Transforming Consumer Industries in the Age of AI 2025

Estimated genAI economic contribution in consumer industries to gross domestic product (GDP) growth by 2038 in US dollarsFIGURE 3Looking ahead, the projected economic impact of AI’s transformative power grows exponentially, even over a relatively short period of time. In consumer industries, adopting genAI in a people-centric and responsible manner (focusing on enhancing rather than replacing jobs) could yield an extra $1.2 trillion in economic value by 2038 across just seven nations (Figure 3).3 A responsible, people-centric approach to genAl could unlock at least $1 .2 trillion across seven geographies for consumer industries, adding from 0.3 to 0.7 percentage points to the baseline annual growth scenario by 2038. Developed markets lead in absolute gains: Economies with more sophisticated digital infrastructures are projected to see the highest absolute dollar value. Emerging markets see highest growth rates: GenAl’s transformative power serves as a “great leveller”, illustrating genAl’s potential to enable rapid productivity gains and workforce transformation. +0.3% +0.3% +0.4% +0.4% +0.5% +0.7% +0.3%$586 billion $166 billion $56 billion$86 billion$96 billion$102 billion$122 billion Germany USA Japan Brazil France UK Canada Source: Accenture. In the short term, most companies will continue experimenting and piloting projects, focusing on no-regret initiatives in areas such as marketing and customer service. As they do, they will increasingly find themselves better able to meet and exceed consumer expectations. That’s good news because customer motivations, behaviours and concerns are evolving at speed, right along with technology. There is a clear movement among consumers towards more informed and deliberate decision- making. Yet a significant majority (75%) say they feel bombarded by advertising and options. Almost just as many (74%) have even walked away from making a purchase because they felt overwhelmed, according to Accenture’s Consumer Pulse Research.4 Essentially, consumers say they are faced with too many factors to consider and compare before they make a purchase decision – a phenomenon they also note isn’t confined to high- stakes purchases. Purchasing a beauty product can be as fraught with stress as buying an appliance. Consumer confidence in shopping leaves room for significant improvement. Although they are more confident purchasing groceries, their confidence drops off rapidly in other areas (Figure 4).5Consumers are open to the potential of AI, spurring transformationA profound economic opportunity Transforming Consumer Industries in the Age of AI 8