EY’s analysis indicates that the rapid spread of artificial intelligence will lead to increased economic activity over the next three to five years. Capital investments and productivity benefits are expected to add between $1.2 to $2.4 trillion in additional global production value over the decade. Among the beneficiaries of AI will be Poland, which could gain up to $90 billion annually. Our country ranks seventh among the EU, US, UK, and Switzerland economies with the highest annual production capacity generated by this technology. According to the Wired for AI report by EY and Liberty Global, AI will enable Poland to achieve production value equivalent to the work of 4.9 million people.
The ambitious goals of the European Union reflect the high hopes placed in this new technology. According to the EU’s State of the Digital Decade report, the Union aims for 75% of enterprises to use cloud services, big data, and/or AI by 2030. However, EU enterprises are currently far from this target. Without further investments and incentives, the goals will not be met, and by 2030, only 20% of enterprises will be supported by AI. Nevertheless, there is no doubt – the technological revolution is in full swing globally, with AI at its center, including in Poland.
– The extent of the transformation we face in the coming years will depend on several factors. Key will be companies’ openness to the benefits of AI and employees’ readiness to enhance their digital skills. Additionally, the presence of efficient infrastructure in individual countries is crucial. One of the fundamental issues for AI development remains the expansion of the global 5G network, which has great potential to accelerate global economic growth. For Poland, unlocking EU funds from the Recovery and Resilience Facility and cohesion funds is significant – part of nearly PLN 600 billion will be allocated to financing digital transformation. Businesses should now focus on identifying areas where the new technology can quickly generate financial and organizational benefits – comments Radosław Frańczak, Partner at EY Poland, Leader of the Technology Consulting area.
Specific Benefits for the Economy
Rapid AI implementation will benefit enterprises and the entire economy. EY-Parthenon experts estimate that capital investments and productivity growth benefits could result in $1.2 to $2.4 trillion in additional global production over a decade, translating to a 1.5-2.5% GDP increase. The biggest beneficiaries of AI development will be the United States, China, and Europe.
The Wired for AI report indicates that nearly half of jobs (49%) in Poland will benefit from AI implementation. However, only 32% of them will experience significant benefits. This is related to the percentage of positions in our country that have access to advanced digital solutions. The highest gains are expected in Luxembourg, the UK, and Iceland. Among the countries in our region, Latvia, Lithuania, and Estonia outperform Poland.
EY and Liberty Global’s analysis shows that AI implementation in Polish enterprises can be equated to the work of 4.9 million people, translating to $90 billion in additional annual production value. In other words, this is the sum of annual salaries for virtual positions filled by technology. This result places our country seventh among the ten that can expect the highest productivity growth related to AI development. The analysis considered the EU, Switzerland, the US, and the UK. The most favorable forecasts include the US, Germany, and the UK, where AI implementation could mean 51, 13, and 9.8 million “additional” jobs, respectively. Although Poland is ahead of three countries – the Netherlands, Sweden, and Romania – only the latter will we surpass in expected additional production value, due to lower wages in Poland compared to Western Europe.
Extensive Use of AI
EY-Parthenon’s analyses indicate that globally, 59% of jobs are at high or moderate risk of AI impact, with this percentage rising to 67% in developed economies. Most repetitive data-driven tasks are found in positions such as factory and system operators, physicists, programmers, engineers, and architects. AI can assist them in data analysis and monitoring, operational planning, document review, design work, and safety control processes.
Importantly, AI’s role in enhancing human skills and productivity growth depends on the specific field, reflecting the technology’s limitations. In a set of 10 selected skills, programming and mathematics show the highest correlation with AI capabilities. The numerous ways to use AI make it a helpful tool for senior management as well.
– It is a common belief that AI is highly effective in relieving employees from performing monotonous and time-consuming tasks, such as translations, transcriptions, data compilations, or creating summaries. Currently, with its dynamic development and ability to learn quickly using large data sets, AI is also invaluable in more complex fields, such as processing financial transactions, talent management in organizations, or recruitment. HR departments increasingly use AI to manage documentation and filter candidate applications, while developers use innovative technologies to speed up software development processes. Additionally, managers can rely on AI to make more informed decisions about employee development, using in-depth analyses based on collected data. AI continuously evolves, becoming a support not only in routine tasks but also in those requiring specialized knowledge and skills, and we await when it will also support us in “understanding emotions” – explains Artur Miernik, Partner at EY Poland and Leader of the People Advisory Services team.
The development of new solutions still means many challenges, primarily the adoption of comprehensive ethical and legal regulations, which will be helped by the EU AI Act. However, many issues need to be internally defined and refined by entrepreneurs, as the way technology is used and potential risks depend on the organization’s profile. Different regulatory scopes will apply to enterprises creating their solutions compared to those collaborating with external partners.
– EU regulations introduce new regulatory standards for both providers and users of AI systems. Enterprises from all industries should review and adjust their standards, principles, and processes to prepare their organizations for the new regulatory landscape. It will be necessary to create comprehensive AI governance frameworks. This will require an interdisciplinary approach from entrepreneurs, considering various aspects such as legal compliance, risk management, ethical issues, and transparency of principles. This will enable responsible use of the opportunities offered by this technology. It is also worth checking to what extent our business partners use AI, where they store personal data, and how they secure it – advises Justyna Wilczyńska-Baraniak, Partner at EY, Leader of the Intellectual Property, Technology, and Data Protection Law Team at EY Law.
About the Study
This analysis is based on the Wired for AI report published in February 2024 by EY and Liberty Global. It presents the transformative impact of AI on jobs in four studied markets: the EU, the US, Switzerland, and the UK. Additionally, two materials developed by EY-Parthenon were used: The impact of GenAI on the labor market from February this year and Harness the productivity potential of GenAI published in March this year.
