Artificial intelligence (AI) is expected to reshape the global economy over the next decade, potentially accelerating economic growth, improving productivity and changing the way businesses operate. As companies increasingly explore AI-powered tools, economists are becoming more optimistic about the technology’s ability to generate new opportunities across industries, although significant challenges remain for countries that struggle to adapt.
A survey conducted by the Financial Times among 94 economists from Europe, the United States and Asia found that a majority of respondents expect artificial intelligence to have a positive impact on economic performance in the coming years. Their outlook suggests that AI could become an important driver of productivity growth, helping businesses complete tasks more efficiently, reduce operating costs and develop new products and services.
According to the survey, 54 percent of economists believe that many or nearly all G20 countries could experience substantial economic and productivity gains over the next 10 years as a result of adopting artificial intelligence.
The findings highlight growing expectations that AI will play a central role in the next phase of global economic development. However, the extent of its impact will depend on how effectively governments, businesses and workers prepare for the changes ahead.
How Artificial Intelligence Could Boost Global Economic Growth
Artificial intelligence is increasingly being used to perform tasks that traditionally required considerable amounts of human time and effort. From analyzing large datasets to assisting with administrative work, the technology is creating opportunities for businesses to improve efficiency and make better use of their resources.
Economists believe these improvements could translate into broader economic benefits if companies successfully integrate AI into their everyday operations.
Businesses Could Become More Productive
One of the most significant potential advantages of artificial intelligence is its ability to help workers accomplish more in less time. AI systems can assist with research, data processing, customer communication, document preparation and other repetitive activities.
By automating selected tasks, businesses may be able to reduce delays, lower certain operating expenses and allow employees to concentrate on responsibilities that require judgment, creativity and problem-solving skills.
For example, companies in the financial services industry could use AI to analyze information more quickly, while manufacturers could apply the technology to identify production problems and improve supply-chain management. Retailers could also use AI to forecast demand, manage inventory and offer more personalized customer experiences.
If these improvements become widespread, they could increase the amount of goods and services produced without requiring businesses to expand their workforces or physical resources at the same rate.
Higher productivity can support economic growth by enabling companies to operate more efficiently, potentially creating room for investment, business expansion and higher wages. Nevertheless, these outcomes are not guaranteed and will depend on how productivity gains are distributed throughout the economy.
The Benefits Could Extend Beyond Major Technology Powers
The United States and China are among the countries most closely associated with the development and commercial use of artificial intelligence. However, economists believe the technology’s potential benefits are not necessarily limited to the world’s largest technology markets.
Other G20 economies could also benefit by introducing AI into established industries, improving public services and helping smaller businesses compete more effectively.
Countries with strong digital infrastructure, skilled workers and supportive business environments may find it easier to incorporate AI into their economies. In these markets, the technology could help companies improve their competitiveness and identify new sources of growth.
Artificial intelligence may also give smaller businesses access to capabilities that previously required substantial financial resources. AI-powered software can assist with marketing, translation, accounting, customer support and other business functions, potentially making advanced tools more accessible to companies with limited budgets.
However, adopting the technology alone will not be enough. Businesses will need to invest in appropriate systems, train employees and establish safeguards to ensure AI is used responsibly and effectively.
Why AI Could Widen the Gap Between Economies
Despite the positive outlook among many economists, the expected benefits of artificial intelligence are unlikely to be distributed evenly across the world.
Countries differ significantly in their access to reliable internet connections, computing infrastructure, investment capital and specialized skills. These differences could determine how quickly individual economies benefit from AI-driven productivity improvements.
Developing Countries Face Greater Challenges
Economies with weaker technological infrastructure could struggle to adopt artificial intelligence at the same pace as more advanced markets.
Businesses may face high implementation costs, limited access to skilled professionals and difficulties integrating new systems into existing operations. Smaller companies could be particularly vulnerable if they lack the resources needed to invest in digital transformation.
Countries that rely heavily on low-cost labor could also face additional pressure. If companies in wealthier economies use AI and automation to reduce production costs, some traditional advantages associated with lower labor expenses may become less important.
This could affect industries that depend on routine administrative work, standardized services or labor-intensive production.
At the same time, AI could create opportunities for developing economies to improve public administration, expand access to education and healthcare services, and help local businesses reach international customers.
The outcome will depend partly on whether governments and private companies invest in digital infrastructure, education and workforce development before the gap between early adopters and slower-moving economies becomes more difficult to overcome.
Investment and Education Will Be Essential
For countries hoping to benefit from AI, investment in technology must be accompanied by investment in people.
Workers will increasingly need opportunities to develop digital skills and learn how to use AI tools in their existing professions. Governments and educational institutions may need to update training programs to reflect changes in the skills employers require.
Businesses will also have to consider how AI fits into their long-term strategies rather than treating it simply as a way to cut costs.
Effective adoption may require changes to internal processes, employee responsibilities and management practices. Companies that combine technology with appropriate training could be better positioned to achieve lasting productivity improvements.
Without these complementary investments, the economic benefits of AI could remain concentrated among a relatively small group of companies and countries.
Will Artificial Intelligence Replace Jobs?
The impact of artificial intelligence on employment remains one of the biggest questions surrounding its rapid development.
AI systems can already assist with a range of tasks performed by office employees, customer service representatives and administrative workers. As the technology improves, some businesses may choose to automate parts of their operations, potentially reducing the need for certain roles.
However, economists generally distinguish between automating individual tasks and eliminating entire occupations. Many jobs involve a combination of repetitive activities, communication, decision-making and responsibilities that may be difficult to automate completely.
Routine Tasks Could Face the Greatest Pressure
Administrative processing, basic customer inquiries, data entry and other standardized activities are among the areas where AI could change existing work patterns.
Employees in these fields may need to adapt as employers introduce automated systems. In some cases, workers could be reassigned to more complex responsibilities, while other positions may be reduced or redesigned.
The effects will vary across industries and countries. Businesses may adopt AI at different speeds depending on its cost, reliability, regulatory requirements and suitability for particular tasks.
Although some workers could experience job losses or disruptions during this transition, the economists surveyed do not generally expect AI development to result in mass long-term unemployment.
Instead, the overall employment impact will depend on the balance between jobs and tasks displaced by automation and new opportunities created by economic growth and technological innovation.
New Careers Could Emerge as Industries Change
Previous waves of technological change have transformed the labor market, eliminating some occupations while creating others. Artificial intelligence could produce a similar pattern, although the scale and speed of the transition remain uncertain.
As businesses expand their use of AI, demand could increase for professionals involved in software development, cybersecurity, data management, AI oversight and technology implementation.
New responsibilities may also emerge within existing professions. Marketing specialists, journalists, financial analysts, designers and other professionals could increasingly use AI as an assistant while retaining responsibility for judgment, accuracy and creative decisions.
This does not mean every displaced worker will automatically find a new position. Retraining, access to education and support during career transitions will be important in helping employees adapt.
The challenge for governments and businesses will be to ensure that productivity gains do not come at the expense of workers who lack the resources or opportunities to develop new skills.
