McKinsey: AI could boost world economy by $2.52 trillion annually
AI could give the world's economy a serious boost, up to $2.52 trillion every year, according to a new McKinsey report.
This comes from automating and supporting existing work, and a 30% increase in the effective cost of AI could shrink those gains by about 34%.
Finance to gain $530 billion annually
Finance is set to benefit the most from AI, with an extra $530 billion expected each year. Education and health care aren't far behind, with projected boosts of $410 billion and $310 billion.
The report also points out that where you live matters: a country's labor costs can really shape how much it benefits from AI.
McKinsey suggests companies focus on using AI where it clearly pays off and make plans for how jobs will change as tech evolves, so investments actually work in the long run.