Bank of England Estimates AI Accounts for Almost 20% of UK Growth in 2026
TLDR
The Bank of England puts AI at nearly a fifth of UK growth in 2026, while UK firms estimate a 0.5% productivity gain over three years and report almost no job losses so far.
Optimixed Overview
Optimixed's original report on this story.
UK firms put AI's productivity gain at 0.5% over three years and report almost no job losses so far, as covered by PPC Land. The piece also asks whether the AI boom is adding to inflation now or will ease it later.
How we got here: earlier coverage
- Nov 6Most UK Adults Would Abandon an AI Shopping Agent After a Single Error, YouGov Poll Finds
A YouGov poll of 2,080 UK adults found only 19% trust AI to make everyday purchases, compared with 55% for a human adviser.
- Oct 29Barclays Projects AI Will Supply Three-Quarters of S&P 500 Earnings Growth Next Year
Barclays projects AI will supply 75% of S&P 500 earnings growth next year, and a Barclays survey finds 60% of investors see AI financing as a problem while neoclouds already struggle to borrow.
- Oct 28EU Consumers Pay for AI at About 60% of the US Rate While 22% of New Firms on Both Sides Use AI in Code
Consumers in the EU pay for AI at about 60% of the US rate, and 22% of new firms on both sides of the Atlantic code with AI.
- Sep 17Pew's 37-country survey finds more people expect AI to reduce jobs than add them
Pew Research finds a majority across 37 countries believe AI will cost more jobs than it creates, with the sentiment stronger in wealthy nations.