Artificial intelligence may come to the rescue of the UK’s sluggish economy, but it is likely to be too late to turn around growth rates in time for the current Labour government, according to analysis by the country’s budget watchdog.
The Office for Budget Responsibility said the technology could provide as much as a 0.8 percentage-point lift to productivity growth within 10 years, a step-change that would transform the country’s delicate fiscal position. However, it warned that the impact is highly uncertain and most of the effects are likely to arrive in the second half of that decade — beyond ...