AI-related activities estimated to contribute nearly one-fifth of UK GDP growth

The Bank of England estimates that AI-related activity accounted for just under one-fifth of UK GDP growth since early this year, after adjusting for long-term tech growth trends, according to its November Monetary Policy Report. The central bank gauged AI activity by bundling output from computer programming and consulting, information services, and publishing, while cautioning that not all output in these sectors stems from AI and that the figures may capture growth in the broader legacy tech industry. Governor Andrew Bailey and the report noted that pinning down AI's exact contribution to UK economic growth is difficult. The estimate matters because it suggests a single emerging technology is shaping a material slice of national output at a time when policymakers are weighing growth and productivity trends.