Goldman Sachs estimated the growth of investment in AI by 2025
Date: 2023-08-04 Author: Karina Ziganova Categories: CRYPTO PAYMENTS
Investments in artificial intelligence (AI) can have a greater impact on US gross domestic product (GDP) than the invention of electricity or personal computers. This is stated in the Goldman Sachs report.
"AI has enormous economic potential and could increase global labor productivity by more than 1 percentage point per hour within a decade of its widespread use," Goldman Sachs economists Joseph Briggs and Devesh Kodnani believe.
To achieve such a transformation, American enterprises will need to make "significant upfront investments in physical, digital and human capital to acquire and implement new technologies and change business processes."
"Our economists expect that investment in AI will mainly be related to investments in hardware to train AI models and fulfill AI requests, as well as increased spending on AI-enabled software," Goldman Sachs said.
How much is invested in AI
According to analysts' estimates, investment in AI worldwide could reach $200 billion by 2025. Capital inflows are likely to occur after "adoption and increased efficiency begin to lead to significant productivity gains" in the sector.
In the long term, investments in AI can reach a peak at the level of 2.5% to 4% of the US GDP and 1.5% to 2.5% of other leading countries in the field of AI. However, the short-term impact on GDP is likely to be quite modest, given that AI-related investments currently account for a very small share of US and global GDP.
Therefore, the introduction of AI is likely to have a significant impact on the United States of America between 2025 and 2030.
Americans are not ready to make friends with AI
A Pew Research survey also showed that more than half of Americans (65%) believe that the introduction of artificial intelligence will have a "big impact" on their work in the next 20 years. According to them, working with AI will lead to increased surveillance and improper data management.
Even more than half of the respondents — 56% — expect that AI will seriously affect the American economy. Only every fifth (22%) believes that the impact of AI will be insignificant.
