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Artificial intelligence: the greatest business opportunity

10.10.2017 Print

$15.7 trillion. This is the value that global GDP will reach by 2030 thanks to the development of artificial intelligence. That is 14% more than today and also more than the current gross domestic product of China and India combined.

Almost half of the global GDP growth will be achieved thanks to increased labour productivity. Another driver of the growth will be increased consumer demand for more advanced products of artificial intelligence.

Highest returns can be expected in the retail, finance and health care sectors, where the introduction of artificial intelligence will increase not only productivity but also the value of products and overall consumption.

China (26%) and North America (14.5%) will account for the largest volume of GDP growth, totalling $10.7 trillion and representing a 70% impact on the world's economy. Therefore, by 2030 artificial intelligence will represent the greatest business opportunity.

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These are the conclusions of a study entitled Sizing the Prize - PwC's Global Artificial Intelligence Study: Exploiting the AI ​​Revolution. The study also brought the following findings:

  • Initially, North America will see higher returns, mainly thanks to its readiness for artificial intelligence and a large number of jobs that could be replaced by more powerful technologies.
  • Even Europe and developed regions of Asia will experience significant artificial intelligence revenues of 9-12% by 2030.
  • China will start outperforming US revenues within a decade, after acquiring the necessary technology and expertise to implement artificial intelligence.
  • Developing countries (including Latin America and Africa) will show a modest GDP increase (less than 6%), mainly due to much lower expectations for the introduction of artificial intelligence technologies.

Sizing the prize - PwC’s Global Artificial Intelligence Study: Exploiting the AI Revolution Sizing the prize - PwC’s Global Artificial Intelligence Study: Exploiting the AI Revolution Sizing the prize - PwC’s Global Artificial Intelligence Study: Exploiting the AI Revolution

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Article source PriceWaterhouseCoopers - multinational professional services network
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