The Impact of AI on Future Sector Growth & Output

Having now analyzed at length the potential impact AI is likely to have on global market value, its impact on jobs, and how people feel about its use in general, let’s now end our analysis with a look at how AI has the potential to change future global economic industry output for the better.

As we’ve already noted from previous data provided, AI growth is likely to be massive in the coming years, but just how big could this be for certain sectors in particular? And which overarching industries are likely to see the biggest growth rates by correctly using AI?

To answer the above questions, let’s begin by examining how AI could impact industry growth rates around the world over the coming years. Once again turning to Statista, we can see what these comparative potential growth rates might look like, both with and without the integration of AI.

Based on previous AI insights garnered from Statista and Stanford University data, it should come as no surprise that the industry set to see the biggest growth benefits from AI is the information and communication sector, which could grow by as much as 4.8% per year by 2035 – this is compared to just 3.4% without the benefit of AI.[1]

The same levels of yearly growth are true for the manufacturing and financial sectors as well, which have the potential to grow by 4.4% and 4.3% respectively by 2035. Again, without the use of AI, this growth could be as low as 2.3% and 2.4% in these industries.[2]

In fact, the data provided by Statista on global industry growth rates shows a visibly marked increase across all sectors if they choose to make use of AI’s potential, with the average yearly growth rate sitting at a minimum of 1.7% each year.[3]

But perhaps more interestingly, Statista data also suggests that those industries which successfully implement AI could see average profitability increase by up to 38% by 2035[4], yet again showing the potential financial benefits offered by AI.

Once more, AI is likely to play a huge role in boosting the economic activity of sectors worldwide. For example, the global retail industry could see its economic potential increase from a low of $400 billion to a high of $800 billion in the coming years.[5]

And this is proving to be the same for all sectors, with transport and logistics economic activity growing anywhere from $400 to $500 billion down the line, and the consumer-packaged goods sector seeing its economic activity go from $200 billion to $500 billion by the turn of the decade.[6]

All of this indicates that AI is set to provide a major boost to the economic activity of global markets and will very likely lead to new avenues of revenue and profit for numerous businesses worldwide.

And with that last point wrapped up, we’ve come to the end of our analysis of AI and its potential impact on businesses around the world in the coming years. Should these predictions prove true, then it goes without saying that the impact of AI on business revenue, profitability, and productivity is going to be huge, and with many people already indicating a willingness to incorporate AI into their daily lives right now, the only question left to answers is not when will your business start using AI, but how?

Naturally, if your business is unfamiliar with AI, or you don’t have the capacity to maintain and monitor its systems, then this might seem like a daunting task. Fortunately, that’s where GoTo can help.

With award-winning solutions like GoTo Resolve, we empower business leaders to simplify and streamline their operations by providing refreshingly simple, remarkably secure IT management and support software designed for the ways teams work today. Our experts are on hand to ensure you and your team stay connected, productive, and receive the resources you need to take your business to greater heights. Get in touch today or visit our website to find out how we can grow your business together.