Research indicates that AI technologies can enhance the UK economy and create jobs, particularly in accountancy. Conducted by Demos, ACCA, and Sage, the study highlights that AI adoption could add £2 billion to GDP and generate 20,000 new jobs. A significant majority of accountants believe AI will create more opportunities than risks, with many expressing confidence in utilizing AI in their operations.
Despite the optimistic projections, challenges remain, including the need for firms to adopt AI and address ethical concerns. The study suggests that firms using AI could grow significantly faster than those that do not, but there are fears of job losses due to AI's impact. Trust in AI's accuracy and data quality are critical issues that must be resolved for successful integration into the accountancy sector.
• AI could add £2 billion to UK GDP and create 20,000 jobs.
• 61% of accountants believe AI will create more opportunities than risks.
The article discusses how generative AI is seen as a positive development for the professional services market.
The article highlights that poor data quality can limit the effectiveness of AI in accountancy.
The article mentions Sage's efforts to prevent AI hallucinations through new patents.
The organization collaborated on the study that highlights AI's potential benefits for the economy.
The company is central to the research findings regarding AI's impact on productivity in accountancy.
India Education Diary 12month
The Jamaica Observer 13month
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
How to level up your teaching with AI. Discover how to use clones and GPTs in your classroom—personalized AI teaching is the future.
Trump's Third Term? AI already knows how this can be done. A study shows how OpenAI, Grok, DeepSeek & Google outline ways to dismantle U.S. democracy.
Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.