Sizing the prize
What’s the real value of AI for
your business and how can
you capitalise
+26%
+14%
Artificial intelligence (AI) is a source of both huge excitement
and apprehension. What are the real opportunities and threats
for your business
Drawing on a detailed analysis of the business
impact of AI, we at PwC identify the most valuable commercial
opening in your market and how to take advantage of them.
pwc/AI
According to PwC
research carried
out for this report,
global GDP could be
up to 14% higher in
2030 as a result of
AI – the equivalent of
an additional $15.7
trillion – making it the
biggest commercial
opportunity in today’s
fast changing economy
The greatest gains
from AI are likely to be
in China (boost of up
to 26% GDP in 2030)
and North America
(potential 14% boost).
The biggest sector
gains will be in retail,
fnancial services
and healthcare as AI
increases productivity,
product quality and
consumption.
Human in the
loop
Hardwired
/specifc
systems
Adaptive
systems
In our broad definition, AI is a collective
termfor computer systems that can sense
their environment, think, learn, and take
action in response to what they’re sensing and
their objectives.
Forms of AI in use today include, among
others, digital assistants, chatbots and
machine learning. AI works in four ways:
Automated intelligence:
Automation of
manual/cognitive and routine/non-
routinetasks.
Assisted intelligence:
Helping people to
perform tasks faster and better.
Augmented intelligence:
Helping people to
make better decisions.
Autonomous intelligence:
Automating
decision making processes without human
intervention.
As humans and machines collaborate more
closely, and AI innovations come out of the
research lab and into the mainstream, the
transformational possibilities are staggering.
Defning AI
Assisted
Intelligence
AI systems that
assist humans in
making decisions
or taking actions.
Hard-wired
systems that do
not learn from
their interactions.
Augmented
Intelligence
AI systems that
augment human
decision making
and continuously
learn from their
interactions with
humans and the
environment.
Automation
Automation of
manual and
cognitive tasks
that are either
routine or non-
routine. This does
not involve new
ways of doing
things – automates
existing tasks.
No human in
the loop
Autonomous
Intelligence
AI systems
that can adapt
to diferent
situations and can
act autonomously
without human
assistance.
For a full glossary of AI techniques and their applications,
please see page 26.
2Sizing the prize
Contents
Introduction 4
Big prize, big impact 6
AI Impact Index 12
Realising the potential 22
Conclusion 24
3What’s the real value of AI for your business and how can you capitalise
Business leaders are asking: What impact
will AI have on my organisation, and is our
business model threatened by AI disruption
And as these leaders look to capitalise on AI
opportunities, they’re asking: Where should we
target investment, and what kind of capabilities
would enable us to perform better Cutting
acrossall these considerations is how to build AI
in the responsible and transparent way needed
to maintain the confdence of customers and
widerstakeholders.
These are the strategic questions we’ll be
addressing in a series of reports designed to help
enterprises create a clear and compelling business
case for AI investment and development. While
there’s been a lot of research on the impact of
automation, it’s only part of the story. In this new
series of PwC reports, we want to highlight how
AI can enhance and augment what enterprises
can do, the value potential of which is as large, if
not larger, than automation.
There’s a lot of
expectation
surrounding
artificial
intelligence
(AI). There’s
also a
significant
amount of
wariness.
Introduction:
Getting down to
what really counts
4Sizing the prize
The analysis carried out for this report gauges
the economic potential for AI between now and
2030, including for regional economies and
eightcommercial sectors worldwide. Through
our AI Impact Index, we also look at how
improvements to personalisation/customisation,
quality and functionality could boost value,
choice and demand across nearly 300 use cases
of AI, along with how quickly transformation
and disruption are likely to take hold. Other key
elements of the research include in-depth sector-
by-sector analyses.
In this opening report, we outline the regional
economies that are set to gain the most and the
three business areas with greatest AI potential in
each of eight sectors. Future reports will focus on
specifc sectors, along with functional areas such
as marketing, fnance and talent management.
We’ll also be setting out the detailed economic
projections and, in partnership with Forbes
magazine, publishing interviews with some of the
business leaders at the forefront of AI.
Game changer
What comes through strongly from all the
analysis we’ve carried out for this report is just
how big a game changer AI is likely to be, and
how much value potential is up for grabs. AI could
contribute up to $15.7 trillion1 to the global
economy in 2030, more than the current output of
China and India combined. Of this, $6.6 trillion is
likely to come from increased productivity and
$9.1 trillion is likely to come from consumption-
side effects.
While some markets, sectors and individual
businesses are more advanced than others, AI is
still at a very early stage of development overall.
From a macroeconomic point of view, there are
therefore opportunities for emerging markets to
leapfrog more developed counterparts. And within
your business sector, one of today’s start-ups or a
business that hasn’t even been founded yet could
be the market leader in ten years’ time.
$15.7 trillion
1$ denotes US dollars throughout, estimated values are expressed in real terms at 2016 prices (i.e. excluding the impact of general
price inflation when looking ahead to 2030).
5What’s the real value of AI for your business and how can you capitalise
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