Google Study: Is Generative AI a Growth Engine for the Swiss Economy?

The study "The economic potential of AI for Switzerland", conducted by the Implement Consulting Group and supported by economiesuisse, shows impressive results: The use of generative AI could increase Switzerland's gross domestic product (GDP) by up to 11 percent within the next ten years, which corresponds to an annual increase of CHF 80 to 85 billion. Knowledge-intensive industries in the service sector in particular, which account for around 80 percent of the economic potential, could benefit from this development.

Monika Rühl, CEO of economiesuisse, underlines the potential: "The study shows that the potential of generative AI in Switzerland is enormous and greater than in most other European countries. A rapid implementation of AI could contribute around CHF 80 to 85 billion per year to GDP in ten years' time - a nice AI pension for Switzerland. At the same time, generative AI is helping us to tackle the challenges of our time: from the shortage of skilled workers to climate change and healthcare."

Changing workplaces

Generative AI is expected to impact 3.9 million jobs in Switzerland, with 66% of jobs being supported and only a small proportion being highly automated. For many jobs, AI could become a kind of digital assistant that takes over routine tasks and supports employees in complex activities. Overall employment is therefore expected to remain stable, although some tasks will be automated.

Christine Antlanger-Winter, Country Head of Google Switzerland, emphasizes the opportunities: "Switzerland is ideally placed to exploit the full potential of AI for sustainable economic growth. However, this is not a sure-fire success. We must continue to invest in research and development, strengthen cooperation between universities and companies and promote education and training. At the same time, the responsible development and conscious use of AI is key."

Switzerland must invest - or lose its connection

Switzerland is in a good position: a strong innovation ecosystem, an innovation-friendly regulatory environment and leading positions in research and development give the country an advantage over other European countries. However, in a global comparison, especially with the USA, there is still some catching up to do. According to study author Martin H. Thelle from the Implement Consulting Group, it is crucial to take advantage of the current starting position: "Switzerland has one of the greatest potentials for generative AI in Europe, thanks to its leading role in most innovation indicators such as skilled workers, research and development. In a global comparison, however, Switzerland lags behind the USA. In order to exploit the full potential of generative AI, more specialized AI applications are needed."

The authors of the study emphasize the need for further investment in training, research and infrastructure in order to exploit the full economic potential of AI. The regulatory course must also be set in order to prevent innovation from being slowed down. Monika Rühl warns: "Either we secure the AI pension and make our location fit for the future, or the train will pass us by."

A critical look at AI: not just opportunities, but also risks

However, generative AI not only presents opportunities, but also challenges. Data protection, transparency and the risk of overregulation are at the center of the discussion. AI must be developed and used responsibly in order to create trust in the technology. The critical discourse on the impact of AI on jobs and society must be conducted to ensure that the technology contributes to the prosperity of the entire population and does not just benefit a few. Christine Antlanger-Winter sums it up: "In line with the Google AI principle of 'bold and responsible', we can harness the economic potential and ensure that AI benefits society as a whole."

Conclusion: An opportunity for the future - use it wisely

Switzerland has the potential to become a pioneer in the use of generative AI, but it must invest wisely in its strengths and master the challenges at the same time. This is the only way the country can secure its AI pension and maintain its place at the forefront of the digital economy.