Generative AI’s Economic Impact: A report commissioned by Google and conducted by Implement Consulting suggests that generative artificial intelligence (AI) could significantly boost Ireland’s economy. Authored by Martin Thelle, the study predicts an increase of up to €45 billion in Ireland’s gross domestic product (GDP) within a decade, attributing this growth to enhanced productivity and efficiency through AI adoption. The report emphasizes the necessity for Irish businesses to widely adopt AI technology to realize this potential economic benefit. It warns that a delay in embracing AI could reduce the possible GDP growth to just 2 percent.
The report also touches on the job market, forecasting that generative AI will assist approximately two-thirds of jobs in Ireland, particularly in office-based roles by automating tasks and generating content. However, it also predicts that about 6 percent of jobs may be displaced due to automation, with call centers and data entry positions being the most affected. Despite this, the study suggests that generative AI could help bridge the skills gap in the country.
In terms of sector-specific impacts, the manufacturing sector stands to gain the most, with a potential increase in annual productivity growth. The service sector is also expected to benefit from productivity improvements. The report notes that certain job sectors, including manual labor and personal care, are likely to remain unaffected by AI advancements.
Google’s commitment to AI technology is highlighted, positioning the tech giant as a competitor against Microsoft and OpenAI in the AI space. The report’s launch coincides with Google’s new AI education training initiative for small and medium-sized enterprises (SMEs) in Ireland, which is part of a broader digital upskilling program offered in collaboration with Enterprise Ireland and the Local Enterprise Offices.