AI could contribute billions to Irelands annual GDP [Video]

AI could contribute €148bn to Ireland’s annual GDP by 2038, a new report has claimed.

According to the report by Accenture, Ireland is ideally positioned to become a global leader in the Generative AI.

The report, Generating Growth: How generative AI can power Ireland’s reinvention, also revealed a potential double-digit productivity uplift across the private and public sectors.

It suggests the use of AI could boost productivity in sectors such as life sciences and financial services by approximately 20% and 30%, respectively.  

Savings from fully harnessing AI could amount to €22.2bn if the full technology is used to automate and augment.  

The report suggests the public sector stands to benefit the most, with gen AI capable of enhancing 42% of working hours in the Irish public sector although healthcare is excluded.

The authors of the report say this could deliver a productivity boost of up to 18%, translating into annual savings of €2.9bn. 

Hilary O’Meara, pictured …