“Technology, via the efficiency gains it enables, has the potential to provide a massive uplift to the economy. KPMG research recently calculated that a productivity boost from generative AI alone could add £31 billion of GDP to the UK economy. This opportunity must be grasped with both hands, yet these numbers cannot be achieved without the right tax incentives to help organisations use these technologies. Emerging technology can initially be expensive to use, so it was disappointing that an increase in tax relief for expenditure on digital services was not included in today’s Autumn Statement.”
“Emerging technologies are often out of reach financially for small organisations. If businesses across the UK are not equally able to use innovative technologies, large organisations with greater resources will accelerate their market lead, resulting in potential digital inequality.”
