Goldman Sachs has raised its long-term GDP growth estimates for the U.S. and several major economies, anticipating that generative AI will enhance productivity over the next decade. The firm projects that by 2034, AI technology will contribute 0.4 percentage points to U.S. GDP growth, pushing the GDP growth rate to 2.3%. Additionally, Goldman Sachs has upgraded its long-term GDP growth forecast for the Eurozone, expecting it to reach 1.4% by 2034. The firm noted that companies will need time to adopt AI technologies, and their impact may take years to materialize. The report acknowledges uncertainty regarding the timeline and magnitude of these effects.
