Artificial intelligence promises to boost profits across industries, says Accenture

The report noted that AI could boost gross value added across 16 industries in 12 economies by about $14 trillion through 2035.


Artificial intelligence can boost corporate profits by 38 percent by 2035, according to an Accenture report that gauges AI's economic impact across various industries.

The report noted that AI could boost gross value added across 16 industries in 12 economies by about $14 trillion.

Accenture's research team developed the report with Frontier Economics. When AI is integrated into the economy, growth rates can grow about 1.7 percent higher than the baseline.

Read also: Accenture CTO Paul Daugherty on how the cloud enables the AI revolution

By industry, information and communication will get an AI growth rate boost of 4.8 percent by 2035, followed by manufacturing at 4.4 percent and financial services at 4.3 percent.

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All industries will see an AI boost including education and social services.

In many cases, AI will augment human labor and in manufacturing the technology will boost returns by improving reliability and eliminating downtime.

Accenture's blueprint for implementing AI includes adoption by the C-suite, adding AI executives in supply chain and HR, transparency, crowd-sourcing, going beyond automation and measuring returns on algorithms.

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