The global Artificial Intelligence industry must achieve $6 trillion in annual revenue by 2031, according to a recent report. Current consumer and enterprise AI services are projected to generate up to $1.8 trillion in revenue.
Furthermore, new AI applications and markets are estimated to contribute approximately $4.2 trillion in revenue. Additional revenue streams could emerge from autonomous machines, robotics, drug discovery, mental health, and energy generation.
David Crawford, lead author of the report and chairman of Bain’s Global Technology, Media, and Telecommunications practice, stated that "The industry needs a wave of innovation." For AI to support sustainable funding, it must contribute about 1 percent to the annual global GDP growth.
Major technology firms, including Microsoft, Alphabet’s Google, Amazon, Meta, and Oracle, are currently investing trillions of dollars into data centres. Data centre sizes and associated costs are reportedly doubling roughly every 12 to 16 months.
By 2030, data centre spending could reach a figure between $5 trillion and $6.5 trillion. This projected data centre spending by 2030 will add a minimum of 150 gigawatts of capacity.
Moreover, annual spending on AI infrastructure might reach as much as $1.5 trillion by 2031. The economics surrounding AI infrastructure will necessitate trillions of dollars in new revenue beyond mere productivity gains.
In the United States alone, $68 billion worth of data centre projects faced blocking or delays during the June quarter.
