AI ‘could add CHF85 billion to Swiss economy’

WEF Davos: AI can boost Swiss GDP by 85 billion Keystone-SDA

Artificial intelligence (AI) has the potential to significantly increase Switzerland's economic output, according to a study presented at the World Economic Forum (WEF) in Davos.

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The research – carried out by the consulting firm Implement Consulting Group and commissioned by the American IT giant Google as well as Digitalswitzerland, an organisation promoting the digitisation of the country, estimates that the widespread adoption of AI could lead to an 11% increase in Swiss gross domestic product (GDP) within a decade, equivalent to CHF80-85 billion.

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The analysis focuses on the specific contribution in research and development (R&D) processes, where AI could increase efficiency by 10-20%, with a potential of CHF15 billion per year by 2034.

The opportunities lie in three key dimensions: the first is the use of AI to accelerate innovation in scientific and industrial research; the second is the production of AI technology itself; the third crucial element is the commercialisation of innovations through digital companies.

Switzerland’s ability to grow these companies will be crucial to fully exploit the potential.

“AI can significantly push R&D processes,” Christine Antlanger-Winter, director of Google Switzerland, was quoted in a statement. “To remain competitive and ensure that the benefits of artificial intelligence reach the entire population, we must seize these opportunities boldly and responsibly.”

For her part, Franziska Barmettler, CEO of Digitalswitzerland, emphasises the importance of bringing the benefits of AI to small and medium-sized enterprises, as well as to traditional industries.

This is why the association has promoted a specific Swiss action plan for AI. Hvidt Thelle of Implement Consulting pointed out that the potential of new technologies is greatest in research-intensive sectors such as pharmaceuticals, with an expected impact on Swiss GDP that is higher than the European Union average.

Translated from Italian by AI/mga

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