Generative AI contributes from 2.6 - 4.4 trillion USD to the global economy

Generative AI has begun to be applied in many fields and has the potential to contribute from 2.6 to 4.4 trillion USD to the global economy annually. And among the industries and fields, generative AI brings in the most revenue, including the information technology industry

Contributions of AI to the global economy

Sharing at the Internet Day 2023 Conference, Dr. Le Thai Hung, Strategy Director of VNPT AI, said that the advent of the Internet has given us more, more diverse, and multidimensional ways to access information.


According to statistics from a recent study, more than 5.3 billion users around the world have access to the Internet, accounting for about 67% of the total world population. Of these, each person uses the Internet at least more than 6 hours and 41 minutes/day. In addition, according to a study released in June 2023, we use Google the most with 84.6 billion visits, followed by Youtube and Facebook.

Mr. Le Thai Hung commented that this proves that the main activities of Internet users are exchanging and searching for information. Therefore, the amount of information we receive every day is very large, we have to process a lot of information.

" A simple example is searching for the Internet Day event on the Internet and there will be more than 33 million results. To read all 33 million results would take years, even a lifetime. Meanwhile, there are many applications and many tasks that need to be handled. And to make an accurate and effective decision, it is necessary to take into account many issues, information, policies, decrees, and circulars of the State.

Making an accurate decision in a short period of time is really a challenge. Therefore, Artificial Intelligence (AI) was born to help users handle work effectively and moreover, it can bring new experiences to users.

In his presentation, Dr. Le Thai Hung said that according to statistics, more than 88% of users on the Internet have interacted with chatbots (chat boxes) at least once in 2022, and more than 80% of questions can be answered by bots. And according to Statista, 74% of customers prefer to chat with chatbots rather than with human-answered services. A chatbot is a software application used to manage an online discussion system using text or text-to-speech, rather than providing live discussions with real users.

Chatbots can completely automatically answer questions and simple tasks, without requiring human assistance. In particular, chatbots can operate and respond 24/7. It is forecasted that the upcoming chatbot market revenue will increase and reach more than 450 million USD by 2027 and by 2030, it will reach 3.6 billion USD.

According to Vietnamese technology experts, generative artificial intelligence (generative AI) has begun to form and be applied in many fields. McKinsey's 2023 study shows that generative AI contributes between 2.6 - 4.4 trillion USD to the global economy annually. And among industries and fields, generative AI brings the most revenue to the information technology industry.

Specifically, the proportion of AI contributing to the high-tech industry is up to 240 - 460 billion USD annually. In addition, AI also makes great contributions to industries and fields related to banking, retail, pharmaceuticals, education, tourism, logistics, etc.

VNPT is ready to invest long-term and continuously in AI


Almost every major country in the world from China, Korea and Singapore to the United States and European countries have specific AI development programs and strategies. The Singapore government invested about 4 billion USD in the AI ​​in education program, deployed in Singapore universities.

Dr. Le Thai Hung also said that AI assistant products in the world still have some issues that cause concern about accuracy and data security. In addition, foreign products also have problems related to infrequent data updates, for example, ChatGPT version 3.5 only stops at 2021 data.

Therefore, large Vietnamese enterprises like VNPT are researching and developing specialized AI models on their own. According to a representative of VNPT, VNPT can develop AI assistants specialized for a specific field and profession to better support Vietnamese people and promote all aspects of digital society and digital space.

“VNPT has confidence from pillars such as people, data computing infrastructure and strategy. VNPT is ready to make long-term, continuous investments in AI and also has comprehensive digital transformation ecosystems. Those are "very clean" data feeds to combine with data streams on the Internet for quality AI assistants," said Mr. Le Thai Hung.


Currently, VNPT has developed a number of products such as AI assistants that listen to social networks to help people synthesize and analyze trend information in space, which are practically deployed in more than 50 provinces and cities. Next are customer care assistants and people, supporting quick and accurate information searching 24/7.

VNPT also developed a very successful electronic identification and authentication assistant, helping to promote fast and safe financial transactions in the digital environment. In addition, the traffic monitoring AI assistant has supported government agencies in managing traffic-related work in the digital space. The product has also been deployed in more than 30 provinces and cities across the country.

“VNPT's AI assistants have been trusted by reputable customers. Up to now, there have been more than 1.2 billion requests to the system, of which 955 million requests for authentication and electronic identification alone have been made. request. This number is extremely large compared to the population size of about one hundred million people in Vietnam," a VNPT representative shared.

Meanwhile, Dr. Le Thai Hung said that VNPT is aiming for a future where every employee, every teacher, every journalist or every one of us has a virtual assistant to support searching, reminding and processing information.

"VNPT wishes to create thousands of virtual assistants, specialized AI assistants in the digital environment deployed as services to serve all the needs of agencies, businesses and people of Vietnam", Director Director of VNPT AI Strategy said.