<\/p>\n
The types of business which are most likely to use artificial intelligence are seeing growth in workers’ productivity that is almost five times faster than elsewhere, raising hopes for a boost to the broader economy, accountancy firm PwC said.<\/p>\n
Productivity in professional and financial services and in information technology grew by 4.3% between 2018 and 2022 compared with gains of 0.9% across construction, manufacturing and retail, food and transport, PwC said.<\/p>\n
The data suggested that the rise of artificial intelligence could help countries to break out of a rut of low productivity growth which would boost economic growth, wages and living standards, PwC said.<\/p>\n
Carol Stubbings, leader of PwC Global Markets and Tax & Legal Services, said highly productive sectors had faster growth in job ads for people with AI skills than without, suggesting AI played a role in these sectors’ higher productivity.<\/p>\n
The trend of productivity growth generated by the technology was likely to accelerate as companies increasingly deployed generative AI which can be used by non-AI specialists, she said.<\/p>\n
“The challenge with AI, and particularly generative AI, is the speed of the change,” Stubbings said.<\/p>\n
Last week the head of the International Monetary Fund Kristalina Georgieva said AI was hitting the global labour market “like a tsunami” and was likely to have an impact on 60% of jobs in advanced economies in the next two years.<\/p>\n
The PwC report tracked and analysed over half a billion job ads from 15 rich countries and used data from the Organisation for Economic Co-operation and Development.<\/p>\n
It said jobs that require AI skills \u2014 including AI-specialist and non-specialist roles \u2014 carried a average premium of 25% in the US and 14% in Britain.<\/p>\n
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