The emergence of consumer-facing generative AI tools in late 2022 and early 2023 radically shifted public conversation around the power and potential of AI. Though generative AI had been making waves among experts since the introduction of GPT-2 in 2019, it is just now that its revolutionary opportunities have become clear to enterprise. The weight of this moment—and the ripple effects it will inspire—will reverberate for decades to come The impact of generative AI on economies and enterprise will be revolutionary. McKinsey Global Institute estimates that generative AI will add between $2.6 and $4.4 trillion in annual value to the global.
economy, increasing the economic impact of AI as a whole by 15 to 40%.1 The consultancy projects that AI will automate half of all work between 2040 and 2060, with generative AI pushing that window a decade earlier than previous estimates. Goldman Sachs predicts a 7%—or nearly $7 trillion—increase in global GDP attributable to generative AI, and the firm expects that two-thirds of U.S. occupations will be affected by AI-powered automation.
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