02/07/2025
A report by Microsoft and Accenture reveals that Generative AI could significantly boost Canada's economy, potentially adding $180 billion annually by 2030. The report reveals several important findings that underscore the potential for AI to contribute significant value to Canadians.
Here are some highlights from the report:
•AI could contribute $180 billion annually to Canada’s GDP by 2030.
$180 billion will come from increased labor productivity, helping workers save up to 125 hours per year, which is equivalent to a half-hour saved each workday, resulting in an 8% increase in productivity!
•$Additionally, 7 billion will come from the creation of new AI products and services.
•Small and medium-sized enterprises could unlock up to $100 billion in economic value.
But challenges remain:
•Canada lags behind its OECD peers in AI adoption. Only 9% of Canadian businesses currently use AI, compared to higher adoption rates in other advanced economies.
•Public trust in AI is low, with just 31% of Canadians expressing confidence in the technology, it is 23% lower than the global average.
•A lack of AI skills and training is an enduring issue and a major barrier to AI adoption.
But why does all this matter?
AI isn’t just about automation, it’s about enhancing human potential, boosting innovation, and unlocking new economic opportunities. If Canada can bridge the adoption gap and invest in AI readiness, it has the potential to lead in the global AI economy.
How can Canada accelerate responsible AI adoption? Let’s discuss in the comments!
A new report from Microsoft, conducted by Accenture, launching today reveals that Generative AI (Gen AI) could add a whopping $180B annually to the Canadian economy in labour productivity gains by 2030 and save workers 125 hours per year, equivalent to a half-hour saved each workday. Seizing this op...