how artificial intelligence is changing the global economy


Artificial intelligence plays an increasingly important role in our lives and economy and is already having an impact on our world in many different ways.
  • How artificial intelligence is changing the global economy?

    McKinsey estimates that AI may deliver an additional economic output of around US$13 trillion by 2030, increasing global GDP by about 1.2 % annually. This will mainly come from substitution of labour by automation and increased innovation in products and services.
  • How will AI impact economy growth?

    Generative AI could raise annual US labor productivity growth by just under 1½ percentage points over a 10-year period following widespread business adoption. Generative AI could eventually increase annual global GDP by 7 percent, equal to an almost $7 trillion increase in annual global GDP over a 10-year period.
  • How does artificial intelligence impact the world globally?

    Increasing productivity and trade opportunities: One of AI's impacts on economic growth comes through its macroeconomic effects. For instance, when AI increases productivity growth, that productivity growth increases economic growth as well.
  • Automation. Automation is one of the most common benefits of AI. Technology has made a great impact on transportation, communications, service industries, and consumer products. With automation, businesses can enjoy increased productivity and higher production rates in the sectors mentioned before.
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