Generative AI to add $359 bn-$438 bn to India's GDP by FY30: RBI DG Patra

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Generative AI to add $359 bn-$438 bn to India's GDP by FY30: RBI DG Patra - Business Standard

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Patra also said that generative AI is projected to boost global GDP by $7-10 trillion over the next three years.

This framework requires breaking down aggregated capital and labour into ICT capital, human capital, and complementary investments that incorporate digital assets as production inputs.

He further said that the KLEMS (Capital, Labour, Energy, Materials and Service) framework is valuable for capturing digitalisation’s impact by measuring its contributions to labour quality, capital quality, value added, and total factor productivity.