Artificial intelligence (AI) is poised to have a massive impact on the global economy and job market by 2030, according to IDC.
In its The Global Impact of Artificial Intelligence on the Economy and Jobs study, the research firm projects that AI-related business spending will generate a cumulative economic impact of US$19.9 trillion through 2030, accounting for 3.5 percent of global GDP in 2030.
If ever there was doubt about waning interest in AI, this study dispels the concern. Widespread integration of AI is driving a surge in enterprise investments, with 98 percent of business leaders prioritising AI. Across various industries, enterprises are accelerating AI adoption mainly for optimising operational costs and timelines.
By 2030, every dollar spent on business-related AI solutions and services will generate US$4.60 in the global economy through indirect and induced effects. The multiplier effect can be attributed to increased spending on AI solutions and services, economic stimulus among AI adopters, and positive impact on the AI providers’ supply chain.
Future of work
While AI is expected to automate many tasks, it will also create new job opportunities. IDC’s Future of Work Employees Survey reports that 48 percent of employees expect some parts of their work to be automated by AI, while 15 percent anticipate most of their work will be automated. Only three percent expect their jobs to be fully automated.
New job oportunties are arising to address the evolving needs of organisations as AI becomes more prevalent. These include AI Ethics Specialists and AI Prompt Engineers, which are becoming dedicated roles within global organisations.
The future of jobs will be determined by human touch intensity and level of task repetitiveness. Jobs requiring strong social and emotional capabilities, such as nursing or those involving ethical decision-making are likely to remain robust in the face of AI automation.
A CEO interviewed by IDC’s Andrea Siviero said, “Based on this research, it’s clear that we should be asking ourselves how our jobs can be made easier and better by AI. AI will not replace your job but someone who knows how to use AI better than you will.”
Entelechy Asia 