Artificial Intelligence (AI) is expected to significantly boost the global economy, with a projected addition of $15.7 trillion to the global GDP by 2030, according to a joint report by FICCI and Boston Consulting Group (BCG). This growth will be driven by four key dimensions: compute power, data availability, AI models, and skilled talent.
Developed economies are leading the charge, with over 66% having national AI strategies, compared to 30% in developing economies and 12% in least-developed countries. However, sectoral disparities are evident, with sectors like financial services and retail rapidly integrating AI due to data-rich environments. In contrast, socially critical sectors like agriculture and public services lag behind due to infrastructure and funding challenges.
The report highlights that 70% of AI adoption obstacles stem from people and process issues, not technology. Key barriers include siloed infrastructure, skills shortages, and cultural resistance. To overcome these challenges, the report introduces the RISE framework, emphasizing Research, Investment, Skilling, and Ethics to drive AI adoption.
Organizations that invest in reskilling, cultural change, and empowering workforces are best placed to translate AI into real business outcomes. The US and China dominate the AI landscape, with the largest pools of AI professionals and comprehensive national strategies. To ensure inclusive growth, governments and businesses must work together to build supportive ecosystems, invest in infrastructure, and promote cross-border collaboration.
