Key facts:
Generative AI (GenAI) is considered one of the most important technologies of our time, and the next ten years will be shaped by advancements driven by GenAI. The potential impact is significant: it could potentially boost Europe's annual GDP growth by 0.4% to 0.7% by 2030, a substantial increase compared to the forecasted growth rate of around 1.4% without AI effects. This technology has the potential to address Europe's ongoing shortage of skilled workers and provide companies with competitive advantages in both the short and long term if they quickly adopt GenAI.
In this report, we explore how the technology will reshape businesses and economies in Europe over the course of this decade. We identify the industries and individual countries most exposed to the opportunities as well as the risks of GenAI.