AI to significantly boost global GDP: PwC report

Updated 2017-06-29 10:00:37 Xinhua

Global GDP will be 14 percent higher in 2030 as a result of AI (artificial intelligence), with China and North America seeing the greatest economic gains, according to a new research report released by consultancy firm PriceWaterhouse Coopers (PwC).

AI will contribute 15.7 trillion U.S. dollars to the global economy in 2030, PwC said in the report.

Labor productivity improvements are expected to account for over half of all economic gains from AI over the period 2016 to 2030, while increased consumer demand resulting from AI-enabled product enhancements will account for the rest.

The greatest economic gains from AI will be in China, with 26 percent boost to GDP in 2030, and North America, with 14.5 percent boost, equivalent to a total of 10.7 trillion dollars and accounting for almost 70 percent of the global economic impact, according to the report.

North America will experience productivity gains faster than China initially, driven by its readiness for AI and the high fraction of jobs that are susceptible to replacement by more-productive technologies.

However, China will begin to pull ahead of the U.S.' AI productivity gains in ten years, after it catches up on a slower build up to the technology and expertise needed, according to the report.

Europe and Developed Asia will also experience significant economic gains from AI, but developing countries will experience more modest increases due to the much lower rates of adoption of AI technologies expected, according to the report.

"The analysis highlights how the value of AI enhancing and augmenting what enterprises can do is large, if not larger than automation," said Anand Rao, Global Leader of Artificial Intelligence at PwC.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58July 22 2018 01:06:38

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16July 22 2018 01:06:38

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18July 22 2018 01:06:38

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords