Artificial intelligence was once a concept confined to the pages of science fiction. However, as we enter a new era of technological and industrial transformation, AI is rapidly becoming an integral part of our daily lives. The world has now stepped into the "Intelligent Age," with nations around the globe racing to secure their positions in this evolving landscape. China, too, has taken decisive steps, launching the "Next-Generation Artificial Intelligence Development Plan" this year. This strategic initiative outlines the guiding principles, goals, and measures for developing AI in China by 2030, aiming to establish a first-mover advantage and accelerate the country’s transformation into a global leader in technology and innovation.
According to reports from the *Economic Information Daily*, authoritative institutions estimate that AI could boost global GDP growth by about 12%—nearly $10 trillion—by 2030. Analysts suggest that AI will drive economic growth through three main channels: enhancing productivity, stimulating consumer demand, and fostering innovation across industries. The U.S. and China are expected to lead in both technology and industry, shaping the future of AI globally.
The global AI market has been growing rapidly. In 2018, it reached 269.73 billion yuan, with a 17% annual growth rate. Over the past five years, the average annual growth rate has been 15%. In China, the AI market, which was under 30 billion yuan in 2016, is projected to exceed 38 billion yuan by 2018, growing at a compound annual rate of 26.3%. As of 2016, there were nearly 1,000 AI companies worldwide, with the U.S. leading the way with 502 firms. Tech giants like Google have also made significant moves into AI, signaling its increasing importance in the global economy.
Analysts from Goldman Sachs and other institutions predict that by 2030, more than half of the growth will come from increased labor productivity, while the rest will stem from higher consumer demand driven by AI. Most agencies agree that all countries will benefit from AI, though North America and Europe are expected to gain the most. Developing regions like Latin America and Africa may see moderate growth due to slower adoption rates.
PricewaterhouseCoopers estimates that AI could add $15.7 trillion to the global economy by 2030, boosting GDP by 14%. China and North America are expected to be the biggest beneficiaries, with total benefits reaching $10.7 trillion—nearly 70% of global growth. While North America may initially see faster productivity gains, China is expected to catch up over time.
Accenture predicts that AI could increase China's total economic value added by $7.1 trillion by 2035 and boost labor productivity by 27%. However, experts emphasize the need to address challenges such as ethical concerns, workforce displacement, and regulatory frameworks. ChuanNeoChong, President of Accenture Greater China, stressed that stakeholders must prepare comprehensively for the future of AI.
AI is set to transform numerous industries. For example, Goldman Sachs estimates that AI could generate $34–$43 billion annually in the financial sector by 2025 through cost savings and new revenue streams. Global investment in AI has surged, with venture capital funding rising from $4.25 billion in 2016 to over $5 billion by 2016, reflecting strong interest in AI startups.
In terms of economic impact, AI can stimulate growth in three key ways: creating smart automation, enhancing human productivity, and driving innovation across sectors. According to Accenture, manufacturing, agriculture, and retail will be among the most benefited industries in China.
While AI brings efficiency, it also poses challenges. For instance, some jobs are being replaced by automation, as seen in Japan, where AI systems replaced 34 white-collar workers. Similarly, Infosys in India lost over 8,000 jobs due to AI implementation. However, AI also creates new opportunities, such as roles in data analysis and AI programming.
As AI continues to evolve, countries like the U.S., China, Japan, and the EU are investing heavily in research and development. The U.S. leads in basic AI research, supported by federal funding and institutions like DARPA and NSF. China, on the other hand, is rapidly catching up, with its national AI plan aiming to make it a global leader by 2030.
Companies like Google, Apple, and Amazon are investing heavily in AI, acquiring startups and developing cutting-edge technologies. Meanwhile, Japan is also making significant strides, allocating billions of yen to AI research and planning to launch new drug development initiatives using AI.
As AI reshapes industries and economies, it is clear that the future will be defined by those who embrace and harness its potential. The race to lead in AI is not just about technology—it’s about vision, strategy, and adaptability.
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