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It’s no secret that nearly every big company is excited about generative AI these days and rushing to announce or embrace new AI tools. But what impact will their moves have on the economy?
According to a new report by global consulting leader McKinsey and Company, titled “The economic potential of generative AI,” the impact could be massive. The report finds that GenAI could add “$2.6 trillion to $4.4 trillion annually” to the global economy, which is equivalent to adding an entire new country the size and productivity of the United Kingdom to the Earth ($3.1 trillion GDP in 2021).
To construct the report, McKinsey’s analysts examined 850 occupations and 2,100 detailed work activities across 47 countries, representing more than 80% of the global workforce.
