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Financial Benefits and Cost Efficiency
For businesses, adopting these technologies can lead to significant cost savings and competitive advantages. Automation through AI can reduce operational costs by streamlining processes and minimizing human error. Blockchain technology can cut costs associated with intermediaries and fraud prevention. A report by McKinsey & Company suggests that AI could potentially deliver global economic activity of around $13 trillion by 2030, boosting global GDP by about 1.2% annually3.