Technology
Visualizing the Massive $15.7 Trillion Impact of AI
For the people most immersed in the tech sector, it’s hard to think of a more controversial topic than the ultimate impact of artificial intelligence (AI) on society.
By eventually empowering machines with a level of superintelligence, there are many different possible outcomes ranging from Kurzweil’s technological singularity to the more dire predictions popularized by Elon Musk.
Despite this wide gap in potential outcomes, most technologists do agree on one thing: AI will have a profound impact on the society and the way we do business.
The Economic Impact of AI
Today’s infographic comes from the Extraordinary Future 2017, a new conference in Vancouver, BC that focuses on emerging technologies such as AI, autonomous vehicles, fintech, and blockchain tech.
In the below infographic, we look recent projections from PwC and Accenture regarding AI’s economic impact, as well as the industries and countries that will be the most profoundly affected.
According to PwC’s most recent report on the topic, the impact of artificial intelligence (AI) will be transformative.
By 2030, AI is expected to provide a $15.7 trillion boost to GDP worldwide – the equivalent of adding 13 new Australias to the global economy.
A Geographic Breakdown
Where will AI’s impact be most pronounced?
According to PwC, China will be the region receiving the most economic benefit ($7.0 trillion) from AI being integrated into various industries:
| Region | Economic Impact of AI (2030) | % of Total |
|---|---|---|
| China | $7.0 trillion | 44.6% |
| North America | $3.7 trillion | 23.6% |
| Northern Europe | $1.8 trillion | 11.5% |
| Developed Asia | $0.9 trillion | 5.7% |
| Southern Europe | $0.7 trillion | 4.5% |
| Latin America | $0.5 trillion | 3.2% |
| Rest of World | $1.2 trillion | 7.6% |
| Total | $15.7 trillion | 100.0% |
Further, the global growth from AI can be divided into two major areas, according to PwC: labor productivity improvements ($6.6 trillion) and increased consumer demand ($9.1 trillion).
Industries Most Affected
But how will AI impact industries on an individual level?
For that, we turn to Accenture’s recent report, which breaks down a similar projection of $14 trillion of gross value added (GVA) by 2035, with estimates for AI’s impact on specific industries.
| Industry | 2035 GVA (Baseline) | 2035 GVA (AI steady state) |
|---|---|---|
| Manufacturing | $8.4 trillion | $12.2 trillion |
| Professional Services | $7.5 trillion | $9.3 trillion |
| Wholesale & Retail | $6.2 trillion | $8.4 trillion |
| Public Services | $4.0 trillion | $4.9 trillion |
| Information & Communication | $3.7 trillion | $4.7 trillion |
| Financial Services | $3.4 trillion | $4.6 trillion |
| Construction | $2.8 trillion | $3.3 trillion |
| Transportation & Storage | $2.1 trillion | $2.9 trillion |
Manufacturing will see nearly $4 trillion in growth from AI alone – and many other industries will undergo significant changes as well.
To learn more about other tech that will have a big impact on our future, see a Timeline of Future Technology.
AI
Visualizing the Top U.S. States for AI Jobs
Nearly 800,000 AI jobs were posted in the U.S. throughout 2022. View this graphic to see a breakdown by state.
Visualizing the Top U.S. States for AI Jobs
Much ink has been spilled over fears that artificial intelligence (AI) will eliminate jobs in the economy. While some of those fears may be well-founded, red-hot interest in AI innovation is creating new jobs as well.
This graphic visualizes data from Lightcast, a labor market analytics firm, which shows how many AI-related jobs were posted in each state throughout 2022.
In total there were 795,624 AI jobs posted throughout the year, of which 469,925 (59%) were in the top 10. The full tally is included in the table below.
| Rank | State | Number of job postings | % of total |
|---|---|---|---|
| 1 | California | 142,154 | 17.9% |
| 2 | Texas | 66,624 | 8.4% |
| 3 | New York | 43,899 | 5.5% |
| 4 | Massachusetts | 34,603 | 4.3% |
| 5 | Virginia | 34,221 | 4.3% |
| 6 | Florida | 33,585 | 4.2% |
| 7 | Illinois | 31,569 | 4.0% |
| 8 | Washington | 31,284 | 3.9% |
| 9 | Georgia | 26,620 | 3.3% |
| 10 | Michigan | 25,366 | 3.2% |
| 11 | North Carolina | 23,854 | 3.0% |
| 12 | New Jersey | 23,447 | 2.9% |
| 13 | Colorado | 20,421 | 2.6% |
| 14 | Pennsylvania | 20,397 | 2.6% |
| 15 | Arizona | 19,514 | 2.5% |
| 16 | Ohio | 19,208 | 2.4% |
| 17 | Maryland | 16,769 | 2.1% |
| 18 | Minnesota | 11,808 | 1.5% |
| 19 | Tennessee | 11,173 | 1.4% |
| 20 | Missouri | 10,990 | 1.4% |
| 21 | Oregon | 10,811 | 1.4% |
| 22 | Washington, D.C. | 9,606 | 1.2% |
| 23 | Indiana | 9,247 | 1.2% |
| 24 | Connecticut | 8,960 | 1.1% |
| 25 | Wisconsin | 8,879 | 1.1% |
| 26 | Alabama | 7,866 | 1.0% |
| 27 | Kansas | 7,683 | 1.0% |
| 28 | Arkansas | 7,247 | 0.9% |
| 29 | Utah | 6,885 | 0.9% |
| 30 | Nevada | 6,813 | 0.9% |
| 31 | Idaho | 6,109 | 0.8% |
| 32 | Oklahoma | 5,719 | 0.7% |
| 33 | Iowa | 5,670 | 0.7% |
| 34 | South Carolina | 4,928 | 0.6% |
| 35 | Louisiana | 4,806 | 0.6% |
| 36 | Kentucky | 4,536 | 0.6% |
| 37 | Nebraska | 4,032 | 0.5% |
| 38 | Delaware | 3,503 | 0.4% |
| 39 | New Mexico | 3,357 | 0.4% |
| 40 | Rhode Island | 2,965 | 0.4% |
| 41 | New Hampshire | 2,719 | 0.3% |
| 42 | Hawaii | 2,550 | 0.3% |
| 43 | Mississippi | 2,548 | 0.3% |
| 44 | Maine | 2,227 | 0.3% |
| 45 | South Dakota | 2,195 | 0.3% |
| 46 | Vermont | 1,571 | 0.2% |
| 47 | North Dakota | 1,227 | 0.2% |
| 48 | Alaska | 970 | 0.1% |
| 49 | West Virginia | 887 | 0.1% |
| 50 | Montana | 833 | 0.1% |
| 51 | Wyoming | 769 | 0.1% |
The following chart adds some context to these numbers. It shows how the percentage of AI job postings in some of the top states has changed since 2010.
We can see that California quickly became the primary destination for AI jobs in the early 2010s, presumably as Silicon Valley companies began developing the technology.
California’s share has since declined, with a significant number of jobs seemingly moving to Texas. In fact, many tech companies are relocating to Texas to avoid California’s relatively higher taxes and cost of living.
The 10 Most In-Demand Specialized Skills
Lightcast also captured the top 10 specialized skills that were required for AI-related jobs. These are listed in the table below.
| Skill | Frequency (number of postings) | Frequency (% of postings) |
|---|---|---|
| Python | 296,662 | 37% |
| Computer Science | 260,333 | 33% |
| SQL | 185,807 | 23% |
| Data Analysis | 159,801 | 20% |
| Data Science | 157,855 | 20% |
| Amazon Web Services | 155,615 | 19% |
| Agile Methodology | 152,965 | 19% |
| Automation | 138,791 | 17% |
| Java | 133,856 | 17% |
| Software Engineering | 133,286 | 17% |
If you’re interested in a career that focuses on AI, becoming proficient in Python is likely to be a good first step.
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