HomeNOTES FROM THE AI FRONTIER : MODELING THE IMPACT OF AI ON THE WORLD ECONOMY

NOTES FROM THE AI FRONTIER : MODELING THE IMPACT OF AI ON THE WORLD ECONOMY

This discussion paper, written by Jacques Bughin, Jeongmin Seong, James Manyika, Michael Chui and Raoul Joshi for the McKinsey Global Institute, looked at the impact of AI on economic growth and made three key discoveries:

  1.  AI has the potential to deliver an additional $13 trillion worth of economic activity globally by 2030
  2. This impact will accelerate over time rather than be linear.
  3. AI will widen the gap between countries with the most gains seen in developed countries.

Approximately half of activities undertaken at work could be automated – meaning there be both job losses and gains. This has happened throughout history as technological advances replace existing jobs, but the end result has nearly always been the creation of more jobs.

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