A new study published by Accenture shows that the artificial intelligence boom happening across industries shows strong potential to bring corporate profits up around 38% by 2035. Specifically, the powerful revolutionary force stands to add about $14 trillion across 16 industries. Annual growth figures for some industries, as seen in the charts below, are set to double, or even more in the case of some industries, such as manufacturing and food service. The same growth figures across industries are set to increase in a similar manner from country to country, with the US leading the charge by jumping from 2.6% to 4.6%, Japan having the biggest growth by jumping from .8% to 2.7%, and Italy seeing the least benefit, projected to go from 1.0% to 1.8%.
In the United States, one of the biggest AI production and implementation markets, corporate profits across the industries in the study hit a high mark in 2010, peaking at 25% growth. The projections here have AI helping to not only bring the US back up to that figure, but to boost it by 10%, for a total of 35% annual growth. Sweden is predicted to top the US and grab the top spot for AI-powered profit growth with 37%, followed by Finland at 36%. Japan is projected to see 34% profit growth, Austria is at 30%, Germany is set for 29%, the Netherlands is showing 27%, the UK is at 25%, France is at 20%, Belgium is at 17%, Italy is at 12%, and Spain rounds out the chart with 11% profit growth.
Per-industry profit growth worldwide is based on just how much profit increase and spending decrease AI can bring. Education tops the charts, with an estimated 84% profit growth by 2035. The service industry is at 74%, construction is up to 71%, retail is at 59%, healthcare is at 55%, agriculture and other nature-related enterprises is at 53%, social services sits at 46%, transportation should see 44% growth, manufacturing shows potential for up to 39% growth, financial services sees 31%, public services is at 27%, the arts and entertainment are at 26%, professional services are listed at 24%, information and communication is at 17%, and utilities closes things out with 9%. There is also a separate category that encompasses industries not specifically addressed in a cumulative fashion, and that one boasts 36%. The interesting pattern shown there does not necessarily give the greatest gains to industries that will replace the greatest number of employees with AI programs; instead, the estimations are based on a wide range of factors, including how well an economy can absorb a new technology, the distribution of jobs and how much AI could help or how easily it could replace people, and the estimated prices to set up an AI revolution in a given industry.
