According the report in The Times published on the 26th April 2018, a trawl through hundreds of years of economic data held by the Bank has revealed what many suspected, that the ‘productivity puzzle’ of the last ten years has been almost unprecedented in UK history.
Guy Kirkwood, Chief Evangelist at UiPath, said: “It is no coincidence that the period surrounding 1761 marked the start of the first industrial revolution when mechanisation was created – for the first time extending the capability, and productivity of endeavour beyond the physical power of an individual human.
“Today marks the period when post-industrial economies move into the fourth industrial revolution, one predicated on the automation of white collar work and the development and deployment of artificial intuition systems that will extend the cognitive power of an individual human.
“I expect that productivity gains wrought by the first industrial revolution will be repeated in this fourth industrial revolution – it’s just going to take several years to show.”