Goldman Sachs, a well-known Wall Street investment bank, released the latest report predicting that artificial intelligence (AI) may eventually have a greater impact on the U.S. economy than electricity (industrial revolution) and personal computers. By 2025, it is expected to attract global investment by 2000 One hundred million U.S. dollars.
(Previous summary: Goldman Sachs In-Depth Report “Is generative AI hype? Or a real revolution )
(Background supplement: Signed with the Biden administration, what are the “eight major promises” of AI giants? )
magnificentEconomists Joseph Briggs and Devesh Kodnani of Goldman Sachs, a well-known investment bank in Wall Street, released an investment report forecast on the 1st: By 2025, artificial intelligence (AI) is expected to attract 200 billion US dollars of global investment, half of which will be in the United States. , thereby promoting the growth of US GDP.
Economists at Goldman Sachs estimate that the technology boom driven by the introduction of electricity (the second industrial revolution) and personal computers in the past has increased US GDP by 2%, while the AI industry is expected to account for 4% of GDP in the US in the future; Countries investing heavily may account for 2.5%.
Goldman attributes much of this contribution to the rapid development of generative AI:
Generative AI has enormous economic potential, increasing global labor productivity by more than 1 percent per year within a decade of widespread use.
But these productive benefits of generative AI come at a price. To achieve transformation at scale, companies will need to make substantial upfront investments in physical, digital, and human capital to acquire and implement new technologies and reshape business processes.
AI is expected to have a major impact after 2025
Goldman Sachs also noted that there are a lot of companies mentioning AI, or integrating with it, with 16% of the Russell 3000 companies mentioning AI in their earnings calls, considering that this number has increased from less than 1% in 2016. % rose significantly, putting the U.S. in the lead in AI innovation.
Goldman Sachs economists believe that while the timing of the AI investment cycle is difficult to predict, business surveys show that AI will start to have the most significant investment impact after 2025:
The vast majority of CEOs expect to adopt AI within 3 to 10 years.
If these timelines are correct, AI applications could begin to have a significant impact on the U.S. economy sometime between 2025 and 2030.
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