AI thrust for the global economy

Artificial intelligence will increase global GDP by 14 percent by 2030, equivalent to an increase of $15.7 trillion. Growing labor productivity will generate half of all economic gains from AI by 2030.

The recent PwC study "Sizing the prize" examined the economic impact of artificial intelligence on economies, companies and individual industries.

"There is no industry that can escape the impact of artificial intelligence. The impact on productivity alone could upend, even harm, competition.

Companies that don't use AI could quickly fall behind in terms of lead times, costs and experience, and as a result, lose significant market share"

says Gerald Dipplinger, Partner and Digital Leader at PwC Austria.

The highest growth from AI will be in China (26 percent GDP growth by 2030). But Europe will also benefit: Here, growth of nine to twelve percent is expected by 2030.

In developing countries, AI will lead to a lower growth rate of less than six percent due to the expected low adoption of the new technology.