Bank of England analysis finds AI development and adoption have raised
productivity in UK firms while reducing employment. Software and IT consulting
firms’ contribution to annual productivity growth has increased tenfold versus
the pre‑pandemic decade, adding 0.1 percentage point to productivity in 2023–25.
Information service providers shifted from a drag to a positive contributor over
the same period. AI adopters show rising productivity particularly in office
administration and business services, where repetitive tasks (scheduling,
invoicing) are prone to automation. Vacancies in occupations most exposed to AI
fell 15% over the past three years; medium‑exposure occupations fell 10% and
low‑exposure 6%. Customer service and administrative vacancies declined by more
than 20%.
