AI-intensive Sectors are Showing Productivity Surge, PwC says

AI (Artificial Intelligence) letters and robot hand miniature in this illustration taken, June 23, 2023. (Reuters)
AI (Artificial Intelligence) letters and robot hand miniature in this illustration taken, June 23, 2023. (Reuters)
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AI-intensive Sectors are Showing Productivity Surge, PwC says

AI (Artificial Intelligence) letters and robot hand miniature in this illustration taken, June 23, 2023. (Reuters)
AI (Artificial Intelligence) letters and robot hand miniature in this illustration taken, June 23, 2023. (Reuters)

The types of business which are most likely to use artificial intelligence are seeing growth in workers' productivity that is almost five times faster than elsewhere, raising hopes for a boost to the broader economy, accountancy firm PwC said.

Productivity in professional and financial services and in information technology grew by 4.3% between 2018 and 2022 compared with gains of 0.9% across construction, manufacturing and retail, food and transport, PwC said.

The data suggested that the rise of artificial intelligence could help countries to break out of a rut of low productivity growth which would boost economic growth, wages and living standards, PwC said in a report published on Tuesday, Reuters reported.

Carol Stubbings, leader of PwC Global Markets and Tax & Legal Services, said highly productive sectors had faster growth in job ads for people with AI skills than without, suggesting AI played a role in these sectors' higher productivity.

The trend of productivity growth generated by the technology was likely to accelerate as companies increasingly deployed generative AI which can be used by non-AI specialists, she said.

"The challenge with AI, and particularly generative AI, is the speed of the change," Stubbings said.

Last week the head of the International Monetary Fund Kristalina Georgieva said AI was hitting the global labour market "like a tsunami" and was likely to have an impact on 60% of jobs in advanced economies in the next two years.

The PwC report tracked and analysed over half a billion job ads from 15 rich countries and used data from the Organization for Economic Co-operation and Development.

It said jobs that require AI skills - including AI-specialist and non-specialist roles - carried a average premium of 25% in the US and 14% in Britain.



SDAIA Utilizes AI Technology to Streamline Process of Pilgrims' Arrival at the Kingdom's Ports

SDAIA's current initiatives result from continuous support from His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the SDAIA Board of Directors. - SPA
SDAIA's current initiatives result from continuous support from His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the SDAIA Board of Directors. - SPA
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SDAIA Utilizes AI Technology to Streamline Process of Pilgrims' Arrival at the Kingdom's Ports

SDAIA's current initiatives result from continuous support from His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the SDAIA Board of Directors. - SPA
SDAIA's current initiatives result from continuous support from His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the SDAIA Board of Directors. - SPA

The Saudi Data & AI Authority (SDAIA) played a key role in streamlining the arrival process for pilgrims this year by employing data and artificial intelligence technologies and investing in enhancing the technical infrastructure at 14 air, sea, and land ports across the Kingdom.
SDAIA leveraged artificial intelligence to bolster its data analysis and anticipatory capabilities. It collaborated with government agencies to secure reliable communication circuits, both core and backups, guaranteeing uninterrupted service at the ports. To further ensure smooth operations, SDAIA assembled a dedicated national technical team for the Hajj season, SPA reported.
The SDAIA team offers services at many locations throughout the Hajj season, including King Abdulaziz International Airport, Jeddah Islamic Port, Taif Airport, Prince Mohammed bin Abdulaziz International Airport, the Empty Quarter, Batha, Salwa, Al-Raqqi, King Fahd Causeway, Halat Ammar, Neom Port, Jadidat Arar, Al-Haditha, and Al-Wadiah.
SDAIA's current initiatives result from continuous support from Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the SDAIA Board of Directors. The objective is to optimize the utilization of data and AI technologies, particularly for the benefit of pilgrims, aligning with the goals of Vision 2030.
SDAIA gave the Kingdom's border crossings, sorting centers, and security control centers a tech boost by providing new systems, services, and tools to improve efficiency.
For this year's Hajj, SDAIA set up a special tech support room to handle any problems faced by different organizations involved. It also equipped teams at all ports with mobile tech kits so they could quickly fix issues on the spot.
Furthermore, SDAIA made sure all the workstations and network equipment in the Hajj halls at the ports were up-to-date by performing preventive maintenance. It built and installed biometric scanners at the Kingdom's border crossings, and took care of setting up the devices, installing the approved software, and training Hajj personnel on how to use everything new.
SDAIA has been rolling out innovative tech solutions to improve the Hajj experience. It launched "Banan," a mobile device that uses biometric data to identify people on-site. This gadget is perfect for field workers managing large groups at different locations during Hajj.
SDAIA also developed Sawaher and Baseer platforms to help manage crowd sizes effectively at various Hajj sites. These platforms ensure each location does not get overcrowded, promoting a safer and smoother experience for pilgrims.
The authority has integrated many pilgrim services into the Tawakkalna app. Pilgrims can now manage everything from Manasik Gate procedures to displaying their pilgrim cards and entry permits for vehicles and personnel working on Hajj in collaboration with Public Security.