The introduction of generative artificial intelligence (AI) technologies can bring the BRICS+ countries up to 600 billion USD by 2030. This conclusion was reached by experts from the consulting company "Yakov and Partners".
"According to the results of the study "Generative AI in the BRICS+ countries: trends and prospects" by 2030, the expected realized economic potential from the introduction of generative AI technologies in the BRICS countries could amount to 350-600 billion. USD“, the analysis states.
According to analysts, at the moment the full economic effect of the introduction of generative AI models in the economies of the countries included in the association can range from 0.9 USD to 1.4 trillion. USD. This will amount to approximately 20% of the total economic effect of AI in these countries.
However, according to experts, as of 2022 the development of generative AI in the BRICS countries and other regions of the world is uneven.
By mid-2023, China had already released its own solutions that reached the level of Western colleagues.
At the same time, Russia and the UAE have just begun to actively implement their own models. According to analytical data, 54% of Russian companies have already implemented solutions based on generative AI in at least one functional area of their organization.
In other BRICS countries, the technology has not developed so quickly or on such a large scale. “However, by the end of 2024, the BRICS+ countries, largely thanks to China, will be on par with or slightly behind (less than six months) the leader in this area - the United States“, the authors of the study indicate.
According to experts, almost 70% of the potential effect of the introduction of generative AI in the economies of the countries included in the association will be concentrated in six key industries: banking, retail, mechanical engineering, energy, electronics and information technology. The study found that from a geographical point of view, over 86% of the combined effect of the merger comes from China. India, Brazil and Russia account for 12%, and the remaining countries less than 2%. This distribution is mainly determined by the size of the economies of these countries.
Experts have identified five key areas of cooperation in the development of generative artificial intelligence among the BRICS+ countries. These include joint development of generative AI models and products, sharing computing power and data, personnel and training in this area, and the creation of self-regulatory organizations and regulatory systems.
According to experts, China will continue to compete with the United States for leadership in both scientific research and industrial application of its solutions. Saudi Arabia, the UAE, India and Brazil will focus on developing the domestic market by creating national language models and business solutions. The best of them can subsequently be exported to other countries.
The study was conducted as part of the study “Generative AI in the BRICS+ countries: trends and prospects“. About 100 CTOs from the top 300 companies in each of the association countries took part in it. In addition, a number of interviews were conducted with leading experts in the field of generative AI in the BRICS+ countries, who assessed their level of development based on five factors.