The Portuguese economy could grow by €15 billion thanks to AI technologies

The Portuguese economy could grow by €15 billion thanks to AI technologies

The Public First study, commissioned by Google, estimates that generative AI tools could put the country at the technological forefront. To achieve this, says Bernardo Correa, Google’s Portugal director, entrepreneurs must be “bold”.

Tools like ChatGPT from OpenAI, or Bard from Google, have put the potential of AI at the center of attention. It is precisely this type of generative AI that has the potential to boost the Portuguese economy by €15 billion, equivalent to 6% of GDP, a study has revealed. Commissioned by Google from Public First, Released this Tuesday.

In addition to the potential to accelerate economic growth, there are generative AI tools – that is, those that use artificial intelligence To create new content – ​​such as text, images, music, audio and videos – can “save, on average, more than 80 hours per year per worker,” which equates to two weeks of work.

So this could be a “transformational opportunity for the Portuguese economy,” giving companies the ability to “transcend the lack of scale and maturity in the Portuguese ecosystem,” says Bernardo Correa, Google’s Portugal director, speaking to Negócios. But to do this, entrepreneurs must “have the audacity to invest in this type of tool.”

“The main obstacle we face in Portugal is ourselves (…) The most important thing, when it comes to taking advantage of this opportunity, comes from entrepreneurs and their ability to have the audacity to invest in this kind of tools to internationalize faster. The best thing we need is to have By daring to take risks,” he said, adding that Portugal was no longer the capital-strapped country it was.

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In charge of Google Portugal for 15 years, Bernardo Correa presents e-commerce as an example of the technological backwardness prevailing in the country. “Hey [atual estado] of Portuguese e-commerce is equivalent to the EU average in 2015. If we compare it to the US, it is in 2013, and if we compare it to the UK, it is 2010. Depending on the degree of comparison, we know and confirm that we have a lot to grow in Portugal.”

When asked about the risks that generative AI could bring, Google’s “country manager” in Portugal stated that these tools “face much lower risks.” “The important thing is to find a balance between being bold and benefiting the economy, while being responsible and ethical in its application.” “It always means human control over the end result,” he ensures.

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About the Author: Camelia Kirk

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