Digital Tech Boost: £520B for UK Economy by 2030

by Mayniaga

The UK Government aspires to be a 'science and technology superpower' by 2030, emphasizing the transformative potential of artificial intelligence (AI).

AWS, in alignment with this vision, conducted a study on the role of digital technologies, cloud computing, and AI in unlocking the UK's digital potential.

Despite positive trends, addressing regional and sectoral disparities in AI adoption is crucial for maximizing the economic impact.

The study reveals a 31% increase in UK companies adopting AI from 2022 to 2023, projecting a potential £520 billion contribution to the UK economy by 2030.

Closing adoption gaps in regions such as Wales and the South West, along with addressing sectoral variations, offers opportunities to enhance the economic potential of digital technologies.

AI adoption is concentrated in regions like London, the South East, the North East, and the North West.

However, businesses adopting AI report notable benefits like enhanced automation, efficiency, cost savings, and increased revenue.

Challenges in hiring staff with digital skills persist, with only 13% of businesses finding it easy.

Proactive initiatives, including AWS programs like AWS Educate and AWS re/Start, contribute to upskilling efforts and align with the goal of significant economic benefits and tech superpower status by 2028.

The study suggests that maintaining AI adoption growth and addressing challenges like the digital skills gap could position the UK as a tech superpower by 2028.

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