Ireland's economy is poised for a massive boost from artificial intelligence (AI). According to a report by Microsoft and Trinity College Dublin, AI is expected to add a staggering €250 billion to Ireland's economy by 2035. This growth is fueled by the surging adoption of AI, which has nearly doubled in the past year, reaching 91% of organizations.
The report highlights the transformative impact of AI on Ireland's economy, with potential benefits including increased GDP and improved competitiveness. AI can help Ireland maintain its competitive edge in industries where it already has a strong presence.
However, the report also notes that there are challenges to be addressed, including the need for smaller businesses to adopt AI and develop an AI-ready workforce. Regulatory hurdles are also more pronounced in Northern Ireland, which could impact AI adoption.
Overall, the report emphasizes the need for a collaborative approach across government, academia, and industry to support the development of AI in Ireland and ensure that its benefits are realized.
