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Artificial Intelligence

PwC sees a potential of 430,000,000,000 euros in AI

According to PwC, artificial intelligence could generate 430 billion for the German economy by 2030. The consultants consider the healthcare industry and the automotive sector to be most affected.

17 Jun. 2018
PwC sees a potential of 430,000,000,000 euros in AI (Photo: PricewaterhouseCoopers GmbH)

The total corresponds to an increase in the German gross domestic product of 11.3% by the year 2030. Global growth is even expected to be around 14%. The consultants explain in a study that the AI potential is based on two pillars in Germany. In other words, innovative products, which are of higher quality and more tailored to the individual customers and efficiency gains that come from AI technologies. However, in an international comparison, China and the USA are in the lead. The Federal Republic is doing well at least Europe-wide, because the share of sectors where great productivity gains are possible through AI, is above average. Industrial production is listed as an example.

The healthcare, automotive, finance, transportation and logistics industries are all heavily impacted by AI, PricewaterhouseCoopers said. This can be both opportunity and risk, the latter when companies fail to quickly adapt especially to new technologies. It is also foreseeable that jobs will disappear and new ones will emerge. This could be guides, for example, who control traffic in a world of autonomous vehicles in the future.

In April 2018, the FAZ went so far as to write the headline, "Anyone not using AI is stupid not to." AI is the next logical step in the digital transformation, the paper quoted VDI director Ralph Appel . Whether that is enough to secure market shares remains to be seen. Even author Uwe Marx states that it is "taken for granted" that the United States and China have a head start or at least that is the current scene.