Artificial intelligence could increase Chile’s GDP by up to 20%, with financial services, commerce and manufacturing leading new productivity gains.
According to a study by Foresight Consultores for Google, the application of AI could generate between US$36.432 billion and US$67.244 billion annually, equivalent to 10.9% to 20% of gross domestic product. This result is in line with an earlier report from Accenture, which estimated a contribution of US$50 billion to US$68 billion by 2038, and approximately US$1 billion in Latin America.
In Chile, the financial services, commerce, and manufacturing sectors will account for around 65% of the overall impact, while industries such as mining, agriculture, energy, and health could also benefit from AI implementation.
An Accenture report predicts that the introduction of artificial intelligence could increase productivity in Chile by 11% to 17%.
However, according to Google, only 5% of Chilean companies have integrated AI into their operations. “If this level of adoption does not improve, the economic benefits will be significantly reduced and remain well below the level needed to boost the country’s economy,” Eleonora Rabinovich, Google’s director of government affairs and public policy, said in a statement.
Chile has a significant foundation for expanding its digital capabilities thanks to its network of data centres, 62,000km of optical fiber, 69,000km of undersea cables and 3.8 million devices connected to 5G technology.
The government says data center projects totaling more than US$2.3 billion will be implemented between 2020 and 2024, with more than 30 initiatives currently under development with investments worth more than US$4 billion.
(The original version of this content was written in Spanish)
