20201215_AI_Productivity_Impact_IBT Projected increase in productivity due to AI in selected economies until 2035 (in percent) Photo: Statista/IBT

The use of artificial intelligence (AI) is already a reality in many industries, but the technology also has significantly more potential, as analysis from Accenture and Frontier Economics shows. The report predicts that labor productivity in developed countries can increase by up to 40 percent until 2035 due to the influence of artificial intelligence. A high increase in productivity is projected in Sweden at around 37 percent. The U.S. (35 percent) and Japan (34 percent) are also expected to benefit greatly from the effects of AI. In Germany and Austria, AI can potentially maximize labor productivity by around 30 percent within the next 15 years.

Nonetheless, as automation advances, fewer unskilled workers will be required by industries, raising questions of what will become of these workers. According to McKinsey, 15 percent of companies in the global automotive industry recorded an AI-related decline in their workforces of 3 to 10 percent in 2019. Approximately 10 percent of companies even exceeded that number.