Bank of England: AI boosts productivity but affects employment
2026-08-06 19:03:15
According to CoinMeta, the Bank of England pointed out in an analysis that the productivity of companies using artificial intelligence (AI) is increasing, but this growth comes at the cost of employment. Compared to the decade before the pandemic, the contribution of software and AI consulting firms to annual productivity growth has increased tenfold, and it is expected to contribute 0.1 percentage points between 2023 and 2025. At the same time, the role of information service providers has also changed, shifting from being a drag on productivity to becoming a driving force. The Bank of England found that companies adopting AI are seeing continuous improvements in productivity, especially in industries such as office administration and business services, where repetitive tasks are suitable for automation. However, this increase in labor productivity is, to some extent, coming at the expense of job opportunities. Over the past three years, job vacancies in occupations most affected by AI have decreased by 15%, with the largest decline in customer service and administrative positions, which have seen a reduction of more than 20%.
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Source:Jin10 Data
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