The Growing Influence of AI in PC and Smartphone Sales
The AI market is experiencing rapid growth, with predictions of double-digit expansion in the near future. Reports suggest that the demand for AI-enabled PCs and smartphones will increase significantly, with smartphone manufacturers projected to ship over 240 million generative AI handsets by 2024. Big tech giants like Intel, Qualcomm, Google, and Apple are incorporating AI-related products into their devices to meet this rising demand. As a result, these companies are expected to generate a substantial portion of their revenue from artificial intelligence products.
Tech Behemoths Prepare for AI Revenue Generation
Although most publicly listed companies have some exposure to AI tools and integration, generative artificial intelligence currently does not contribute significantly to their revenue. However, as the market for AI products evolves, sales and capital generation are expected to increase. Investors have already shown interest in AI revenue models, leading to a significant rally in tech stocks. Nasdaq experienced a 43% climb in 2023, marking one of the sharpest rallies in 20 years.
AI’s Impact on Economic Growth
AI is not only influencing financial markets but also contributing to economic growth on a global scale. Countries worldwide are investing funds to boost AI exports and imports. The global artificial intelligence industry is projected to grow at a compound annual growth rate of 37.3% between 2023 and 2030, reaching $1,811.8 billion by the latter year. China is expected to benefit the most from AI, with a predicted GDP increase of 26% by 2030. North America will also experience a gain of 14.5%. Combined, these benefits will have an impact of over $10.7 trillion on the world economy.
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