PwC comments on the AI Opportunities Action Plan

Umang Paw, Chief Technology Officer, PwC UK said:

“Today’s announcement is a welcome step forward as the UK looks to grasp the huge opportunities that AI can provide to the country’s economy and public services. In order for the UK to keep pace in the global race for AI leadership, developing and building AI literacy and proficiency is essential. 

“The plan to use the immigration system to recruit thousands of AI experts, while encouraging students to take up AI-focused courses, is an important measure in challenging the country’s acute AI skills-shortage. Our research shows that the most AI-exposed business sectors see a fivefold increase in the rate of productivity growth, and UK employers are willing to pay a 14% wage premium for jobs that require AI skills.

“What we as businesses should be doing now is leveraging AI as much as possible in the workplace, in the most safe and responsible way. Today’s plan highlights the importance of balancing prosperity with safety and it should be applauded in its aim for the UK to become a world-leader in AI safety, whilst not hindering innovation.”

Rachel Taylor, leader of government and health industries at PwC, said:

“The Government’s AI strategy is a major policy lever to help enhance UK productivity and drive growth. Its success will hinge on how industry, public services and government work together to achieve this vision. 

“There is a critical link in how this strategy enables the successful delivery of an industrial strategy so AI can be harnessed to drive productivity of the UK’s priority and wider sectors. This will enable the UK to strengthen its competitive position in the global market, foster innovation, and enable businesses of all sizes to be equipped to thrive in an increasingly digital economy.

“Importantly, the UK needs to build a hybrid skills base to maximize the potential of AI. The first ever 'AI Skills Hub' is making progress in this, supporting four priority industries to overcome skill and workforce barriers limiting their ability to make greater use of AI technologies.  This is underpinned by large-scale industry engagement to understand the barriers and training requirements. Building on examples like this and industry engagement will be essential in learning best practice and delivering skills at scale.”