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GenAI to generate economic value worth $2.6-$4.4 trillion annually: Report

Economic TimesEconomic Times · 1y ago
GenAI to generate economic value worth $2.6-$4.4 trillion annually: Report
Medial

Generative AI (GenAI) is projected to generate annual economic value ranging from $2.6 trillion to $4.4 trillion. Around 75% of this value is expected to be concentrated in core service lines such as software engineering, customer operations, R&D, and sales and marketing, which are essential for technology service providers in India. Over the next five years, more than 100 GenAI use cases are predicted to drive 15-20% additional growth, with potential productivity improvements of 30% in the next two to three years. The generative AI space is rapidly evolving, with providers reshaping their approaches and increasing investments in areas like technology, talent, and risk management.

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