THE CITY OF LONDON. REPORT.
AI: Accelerating Innovation How Artificial Intelligence is turbocharging UK financial and professional services.
03 JAN.
Artificial Intelligence (AI)(external link) is rapidly transforming the world around us. From education to innovation, transport to technology, every sector will be impacted by AI.
Our new report, AI: Accelerating Innovation shows how financial and professional services (FPS) is at the forefront of this revolution. FPS businesses are at the vanguard of investing in and adopting AI technologies to boost productivity, develop new products, and improve customer experience. This report finds that the sectors with the highest levels of AI adoption are legal, IT, finance, and accounting.
There are currently 3,000 AI firms in the UK employing over 50,000 people. This report sets out areas, such as digital upskilling, where the ecosystem can be strengthened even further.
By leading on AI and other technologies, the FPS sector can help put the United Kingdom at the centre of a global transition that will boost domestic economic growth.