Unlocking Economic Potential
Accenture’s new research reveals that generative AI could inject an additional $675 billion into India’s economy by 2038. This potential boost is part of a larger trend across the Asia-Pacific region, where responsible and scaled adoption of generative AI could create $4.5 trillion in economic value over the next 15 years. The study combines economic modeling for four major APAC economies and a survey of business leaders and workers.
Key Findings
- Generative AI is expected to automate or augment 33% of working hours across APAC, with Australia and Japan seeing the highest impact at 45% and 44% respectively.
- In India, 31% of working hours could be affected, potentially leading to a 0.6 percentage point increase in annual GDP growth.
- 96% of APAC business leaders recognize generative AI’s significant impact, and 91% of workers are eager to acquire new skills.
- Capital markets, software and platforms, banking, insurance, and retail are the industries most likely to be transformed by generative AI.
Realizing the Potential
To fully leverage generative AI’s capabilities, Accenture recommends businesses take a people-centric approach. This includes leaders embracing new learning methods, reinventing work processes, reshaping the workforce, and preparing workers for the AI-driven future. The focus should be on continuous talent reinvention, skills mapping, and fostering both technical and soft skills. By prioritizing these areas, organizations can better position themselves to harness the transformative power of generative AI while ensuring their workforce remains adaptable and valuable in an evolving technological landscape.
