The global economy will be $16 trillion bigger by 2030 thanks to AI

It's widely accepted that artificial intelligence (AI) will have a huge impact on our lives in the coming decades -- but what's its value to the global economy? According to a new report, global GDP will be 14% higher in 2030 as a result of AI -- the equivalent of $15.7 trillion, more than the current output of China and India combined. The report, Sizing the Prize, was launched by PwC in a session at the World Economic Forum's Annual Meeting of the New Champions 2017 in Dalian, China. Improvements to labour productivity will account for over half of all economic gains from AI between now and 2030, while increased consumer demand resulting from product enhancements will account for the rest. Regional gains will be most strongly felt in China, which will receive a 26% boost to GDP in 2030, followed by North America (14.5%).