AI to add $15.7 trillion to global GDP by 2030: FICCI-BCG report

Federation of Indian Chambers of Commerce & Industry in collaboration with Boston Consulting Group has released a white paper on The Global AI Race, which highlights the widening divide in AI adoption, calling for action to ensure AI drives inclusive global progress.

Artificial Intelligence (AI) has emerged as the defining technology of the 21st century, reshaping economies and businesses. The paper reports that by 2030, it is projected to add nearly USD 15.7 trillion to global GDP, unlocking unprecedented productivity gains and accelerating innovation across sectors.

In 2023, over 66% of developed economies had an AI strategy in place, compared to only 30% in developing and 12% in least developed ones. On the business front as well, organizations that adopt AI in strategic ways are seeing an outsized improvement in their performance.

The global AI race is unfolding across four related dimensions: compute, data, models, and talent. A few countries, such as the United States (US) and China, have taken an early lead by investing in research and development. Others, such as India, the European Union (EU), Singapore, the United Arab Emirates (UAE), and Israel, have endeavored to focus on building applications, specialized talent pipeline, and regulatory innovation.

Despite billions in investments, nearly half of AI pilots are scrapped before production and fewer than one in eight prototypes reach deployment. Key barriers include siloed infrastructure, skills shortages, and cultural resistance.

The report also highlights that access to compute is expensive, talent and funding are concentrated. USA accounts for nearly one in three AI experts. Such a divide means that without supportive ecosystems of infrastructure, talent, financing, and governance, progress will remain fragmented and unequal.

Meanwhile, adoption is more sociological than technical, 70% of AI adoption obstacles stem from people and process issues, not technology. Organizations that invest in reskilling, cultural change, and empowering workforces are best placed to translate AI into real business outcomes. For example, a telecom operator achieved a 40% increase in sales conversions by reskilling 300+ frontline staff to use AI-driven customer engagement tools.

The report introduces the RISE framework - Research, Investment, Skilling, and Ethics, as a call to action for governments. Research is to foster public-private ecosystems, open research, and innovation hubs. While investment expand capital and infrastructure to democratize access, especially in underserved regions.

Skilling helps bridge the talent gap by reskilling workforces and enabling knowledge-sharing at scale. Ethics establish robust governance frameworks to ensure responsible, transparent, and safe AI adoption.

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