Strategy& – Embracing the genAI opportunity

The report "Embracing the genAI opportunity" by {authors} discusses how Generative AI (GenAI) will impact businesses and economies in Europe over the next decade. GenAI is seen as a significant technology that will drive advances in various industries. It is estimated that GenAI has the potential to increase annual GDP growth in Europe by 0.4% to 0.7% by 2030, providing a substantial boost compared to the forecasted growth without AI effects. GenAI could also help address Europe's shortage of skilled labor and give companies competitive advantages. The report identifies industries and countries that are most exposed to the opportunities and risks of GenAI, and highlights strategies and public policies needed for a successful implementation. Leaders are urged to understand the technology and its implications as a necessity for future growth.