The Economic Impact of Artificial Intelligence

by - over 2 years ago

Visualizing the Massive $15.7 Trillion Impact of AI

AI is often a controversial and sometimes frightening topic, but it can't be denied that AI will have an enormous impact on the world's economy, society, and the way we do business.

AI is expected to provide a $15.7 trillion boost to GDP worldwide by 2030. This would be the equivalent of adding 13 new Australias to the global economy.

According to a study by PWC, China will receive the most economic benefit ($7.0 trillion) from AI integration across a variety of industries.

In the study, the global growth from AI can be divided into two major areas: labour productivity improvements ($6.6 trillion) and increased consumer demand ($9.1 trillion).

A recent report from Accenture breaks down the industries to an individual level in order to gauge which will be most affected.

Manufacturing tops this list with an estimated $4 trillion growth from AI alone. Other industries topping the list include professional services ($2 trillion growth) and wholesale and retail ($2 trillion growth).

Courtesy of: Visual Capitalist.

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