Generative AI: The Next Trillion-Dollar Frontier

July 03, 2023
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Generative AI: The Next Trillion-Dollar Frontier

According to McKinsey & Company ‘s latest research paper, “The economic potential of generative AI: The next productivity frontier”, this technology could add trillions of dollars in value to the global economy. The research found that generative AI could address specific business challenges in ways that produce measurable outcomes across 63 use cases, adding between $2.6 trillion to $4.4 trillion annually. This could increase the impact of all artificial intelligence by 15 to 40 percent.

The four areas where generative AI could deliver 75 percent of the value are customer operations, marketing and sales, software engineering, and R&D.

By understanding the technology’s potential, companies can make critical decisions about how to implement it and reap the benefits. McKinsey’s research provides valuable insights into where generative AI can deliver the biggest value and how big that value could be.

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