AI to double global digital economy to $23 bn by 2025

Artificial Intelligence (AI) could almost double the value of the global digital economy to $23 trillion by 2025 from $12.9 trillion in 2017 when it accounted for 17.1% of global GDP.

The Global Connectivity Index 2018, now in its fifth year, found that industries are embedding AI in key enabling technologies – Broadband, data centers, cloud, big data and IoT – to turn connectivity into intelligent connectivity, unleashing innovation to propel a new wave of economic growth. Increasingly, industries are leveraging intelligent connectivity to create whole new business models, products, processes and services that will breathe new life and open a new cycle of economic growth.

The GCI 2018 also discovered that to effectively deploy AI on a large scale, countries need three equally important components in place: computing power, labeled data and algorithms. But the big challenge is scarcity of AI developer talent. Governments need to re-think education for a future workplace redefined by AI and start building a healthy, collaborative, and open AI ecosystem to attract and retain competitive AI talent.

This year, the GCI broadened its research scope from 50 to 79 nations, marking the second time it has enlarged its purview since 2015. Based on GCI scores, the newcomers are classified as 20 Frontrunners, 37 Adopters and 22 Starters – according to their level of economic development.

As AI evolves into a practical enabling technology, new economic potential awaits countries in all three clusters. Whether addressing stagnating growth among Frontrunners or limited resources for Starters, AI is redefining what “connectivity” looks like and steering the focus towards Intelligent Connectivity which can help every country unlock new growth.

Kevin Zhang, President of Huawei Corporate Marketing said, “According to the GCI study, advanced economies that saw growth from ICT development plateau are using Intelligent Connectivity to open new opportunities, while some developing economies are also finding ways to tap the new technology to speed up their own strategic growth plans.”

 

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