AI Investments Could Reach $200 Billion by 2025, Says Goldman Sachs
According to Goldman Sachs economists Joseph Briggs and Devesh Kodnani, investments related to Artificial Intelligence (AI) are predicted to reach an astonishing $200 billion by 2025. They also believe that the United States is well-positioned to become the global center for AI technology. Here are the key points from their analysis:
– AI has enormous economic potential and could significantly boost global labor productivity.
– Investments in physical, digital, and human capital are necessary for businesses to implement new technologies and reshape work processes.
– These investments are estimated to reach $200 billion globally by 2025.
– AI-focused investments could account for up to 4% of the US GDP and up to 2.5% of other nations’ GDP.
– China could become a major competitor in the AI field.
Goldman Sachs’ research also found that market interest in AI has been rapidly increasing. More companies in the Russell 3000 list have mentioned AI in their earnings calls, with approximately every sixth company doing so. This is a significant increase compared to just 1% of companies mentioning AI in 2016.
Hot Take
The predicted growth in AI investments is a reflection of the increasing importance and potential of AI technology. As businesses recognize the value of AI in boosting productivity, it is likely that more investments will be made in this field in the coming years. The United States has a strong chance of becoming the global hub for AI, but it will face competition from China. It will be interesting to see how this race for AI dominance unfolds and how it will impact the global economy.
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