Study predicts growth through AI
A new study suggests that the application of artificial intelligence could boost the German gross domestic product by 13 per cent.
Berlin (dpa) - Technologies and applications based on Artificial Intelligence (AI) could provide an enormous boost to Germany's economic performance, a new study says.
In their joint study published Tuesday in Berlin, the corporate consultants Arthur D. Little and the Internet Economy Association (eco) said that if German companies were to make broad use of AI, the country's gross domestic product could realistically grow by more than 13 per cent by 2025, compared with 2019.
The potential can only be exploited if certain framework conditions are met, it cautioned. The political sector must remove certain legal uncertainties covering AI applications that still exist under the aegis of the European data protection basic regulation (DSGVO).
Algorithms must not be slowed down by overregulation in the research and development phases, the study said. The provision of basic knowledge about AI systems and methods must become part of public education. "Users must be able to rely on AI technologies and to understand their ways of functioning," it said. For this, integrated pedagogical concepts are essential, said Inger Paus, managing director of the Vodafone Institut which supported the study. "There is a great deal of backlog demand here," she said.
The study's authors calculated that the total potential for systematic AI applications could be 488 billion euros (542 billion dollars), of which 330 billion euros would be in cost savings and 150 billion euros in potential revenues. In most cases, the fear of job losses from AI are unfounded.
"Over 70 per cent of AI-supported applications by 2025 would not replace workers but instead would strengthen the cooperation with employees in the value added chain and competitive position," it said.
The study examined a total of 150 potential AI applications, from automated expense account calculations from the photographing of documents all the way through to automated supplier analyses. Some 50 application areas were given yet more detailed examination.
According to the study, such business areas as "commerce and consumption" as well as "energy, enviroment and chemicals" would profit the most, each at nearly 100 billion euros, from AI applications.