Management consulting firm McKinsey predicted generative AI will add $4.4 trillion annually to the global economy.
According to the report, generative AI could add between $2.6 trillion and $4.4 trillion to the global economy across 63 generative AI use cases covering 16 different jobs, roughly equivalent to the size of the UK's GDP in 2021. Generative AI could also increase $200 billion to $340 billion in value for the banking sector, and $240 billion to $390 billion for retail.
75 percent of the value of the technology will be found in four areas: customer operations, marketing, sales, software engineering, and research and development.
Source (CNBC Arabic Newspaper, Edited)
