PwC has released a report titled "Sizing the prize: What’s the real value of AI for your business and how can you capitalise?" It highlights how artificial intelligence (AI) will enhance and augment what enterprises do.

According to the analysis, artificial intelligence may transform the productivity and GDP potential of the global economy. However, for that to occur, there will need to be strategic investment in different types of AI technology.

PwC research shows a global GDP increase of 14% by 2030, propelled by AI. That equals an extra $15.7 trillion. The report states that improved labor productivity should drive initial GDP gains as a result of enterprises looking to augment their labor force’s productivity with AI and automate more tasks and roles.

The PwC research further revealed that 45% of total economic gains by 2030 will be a result of product enhancements, which will increase consumer demand. As AI drives more product variety over time, it will increase more personalization, attractiveness, and affordability.

PwC’s analysis suggests that China will experience the most significant economic gains, perhaps a 26% boost to GDP in 2030. In North America, the increase could range as high as 14.5%. Combined, it would represent a $10.7 trillion boost, nearly 70% of the global economic impact.

According to PwC’s website, with offices in 151 countries and employing over 364,000 people, PwC is a worldwide assurance, tax and advisory services provider.