AI could increase global GDP by $15.7 trillion by 2030

❝ Much has already been made about how artificial intelligence is going to transform our lives, ranging from visions of the future in which robots make humans obsolete to utopias in which technology solves intractable problems and frees up people to pursue their passions. Consultancy firm PwC ran the numbers, and came up with a relatively rosy scenario with regards to the impact AI will have on the global economy. By 2030, global GDP could increase by 14%, or $15.7 trillion, because of AI…

❝ Almost half of these economic gains will accrue to China, where AI is projected to give the economy a 26% boost over the next 13 years—the equivalent of an extra $7 trillion in GDP. North America can expect a 14.5% increase in GDP, worth $3.7 trillion…

❝ A large part of the forecast GDP gains — $6.6 trillion—are expected to come from increased labor productivity, with businesses automating processes or using AI to assist their existing workforce. This suggests PwC believes AI will generate a productivity boost that’s bigger than previous technological breakthroughs—despite recent advancements, global productivity growth is very low and economists are puzzled about how to get out of this trap.

The rest of the projected economic growth would come from increased consumer demand for personalized and AI-enhanced products and services. The sectors that have the most to gain on this front are health care, financial services, and the auto industry.

Given appropriate political smarts, I’m in the Utopian crowd. Contemporary global economics says there’s a chance. Even in a nation silly enough to elect a fake president.