Spain | The impact of AI on the economy

Summary

Until a few years ago, the debate on artificial intelligence (AI) was confined to specialized circles. Today, it is a conversation across companies, governments, and public opinion.

Key points

• Key points:
• The emergence of various advanced language models, such as LLMs, and the rivalry between them, the rise of new players such as DeepSeek, and Spain's launch of its models—such as ALIA, within the framework of the HispanIA 2040 strategy—are just a few recent examples of a change of era.
• AI is emerging as a General Purpose Technology (GPT), with a potential comparable to electricity or the Internet. Its ability to integrate into all productive sectors makes it a fundamental driver of growth and productivity, which could also facilitate demographic and energy transitions.
• According to a recent overview by BBVA Research, its adoption in the Spanish economy could increase productivity by around 3% in the next ten years.
• AI will not necessarily destroy jobs overall, but it will transform the nature of many roles, increasing their productivity. According to the HispanIA 2040 report, up to 65% of the employed population in Spain could see their tasks complemented by AI.
• Spain faces the challenge of fully harnessing the potential of AI. Its adoption is very uneven: while 40% of large companies are already using it, only 8% of SMEs have incorporated any AI-based solutions.

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