Tony Blair: Artificial intelligence could ‘turbo charge’ Britain’s faltering economy

Artificial intelligence (AI) is the "game changer" that could "turbo charge" Britain’s faltering economy, Tony Blair has said.

Speaking at an event hosted by his think-tank - the Tony Blair Institute for Global Change (TBI) - the former prime minister painted a gloomy picture of the economic future facing the new Labour government.

But technology offers the answer, he said.

Mr Blair described the potential impact of AI as being at least as big as the impact of the Industrial Revolution.

He said the UK is well placed to be a world leader and named it as the home to the world’s third-largest computing capacity and as top three in global AI.

But, he warned that we risk falling behind.

He urged the government and British businesses to ensure the UK is an AI maker, not just an AI taker.

By unlocking investment, improving workplace efficiency and improving health outcomes - economists from the TBI forecast net annual savings of £34 billion by 2034.

"Things that were impossible, will become possible. Advances which would of taken decades, will happen in a few years or months," Tony Blair said when speaking at an event hosted by his think tank for global change.

One of the key focuses of the conference is the NHS.

The audience was told AI has the potential to pivot healthcare from treatment to prevention. Enabling people to be healthy longer and therefore stay economically active for longer.

Speaking on the same stage, the new Health Secretary Wes Streeting agreed there was a need for focus on longer term policies.

He said: “Our love for the NHS is not in doubt but sometimes if you love somebody you have to help them change.”

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