AI uptake by companies and households appears to have increased significantly in recent months. This is one of the factors that will determine whether AI will increase productivity gains significantly. As we will show in this section, a lot of new data and statistics have been published over the past quarters, and related knowledge has improved.
Key takeaways
- The adoption of AI among businesses and households is progressing quickly, although it is still in its initial phases. There is considerable potential for wider implementation. The productivity improvements driven by AI are expected to be substantial.
- The macroeconomic impact varies across countries. Generally, advanced economies are readier than emerging ones to adopt AI. However, some emerging economies, such as China and a few Eastern European countries, are among the leaders in AI preparedness.
- We expect AI-driven capex to be more broad-based going forward. The United States will be an early winner in the first decade of AI adoption, while DM Europe will follow in the second decade, with a lower contribution to GDP growth (around 0.3pp). Asia currently lags behind in the estimated impact.
- Competition and innovation should help broaden the benefits of the new technology across the economy by lowering barriers to entry, accelerating adoption and creating new opportunities.
You can now read the full whitepaper at the link below
