Axios

The rise of artificial intelligence will boost the global economy a cumulative $19.9 trillion by 2030, according to a new IDC study released Tuesday.

Why it matters: The study takes a broad look at AI’s impact, including the revenue of AI companies, AI’s impacts on consumer spending and the massive spending on infrastructure needed to power AI systems.

By the numbers: IDC, the market-forecasting giant, projects that AI — including but not limited to generative AI — will boost the global economy by $4.9 trillion in 2030, up from just below $1.2 trillion this year.

• If so, that means AI-related activity could account for 3.5% of global GDP, based on IMF estimates for the global economy.