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By Dr. Andreas SCHEUERMANN, Achim POGADL, Julian STORZ and Philipp WAFFLER, zeb consulting*
Artificial intelligence (AI) could become the strongest economic driver in the coming decades. Estimates of the isolated impact of AI on the global economy range from 15% growth by 2030 to a doubling of economic output by 2035.
All these projections can be reduced to one common denominator: AI has the potential to initiate the next long-term economic wave, better known as the Kondratiev wave, and become the «steam engine» of the 21st century. In this respect, the potential economic changes brought about by AI differ significantly from previous Kondratiev waves. For example, while the steam engine was largely limited to the secondary sector, AI applications...
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