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
The types of businesses 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.
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.
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…
