Agentic AI Spending to Triple to $155 Billion by 2030

Autonomous AI agents are set to revolutionize the way enterprises operate, with new research indicating that their potential value is significantly underestimated. According to a Bank of America Global Research report released this week, spending on agentic AI could reach $155 billion by 2030, which is triple the estimates of most industry analysts. This projection underscores the growing belief that agentic AI could fundamentally transform workforce productivity.

Agentic AI is described as the “defining catalyst for AI monetization” by BofA analysts, as these agents can measurably boost workforce productivity. The analysts developed a framework to estimate how much of the total value of human work, measured by salaries and wages, could shift to AI agents. They calculated that global knowledge worker wages across seven major fields—sales, marketing, customer support, finance, human resources, IT, and operations—total $18.6 trillion annually. By 2030, they project AI agents could handle 10% of these workflows, unlocking $1.9 trillion in value. If software vendors capture 8% of this, agentic AI spending could reach $155 billion, according to the findings.

Despite the rapid adoption of generative AI, with 78% of companies using it, more than 80% see no material earnings impact. This is because productivity gains from tools like chatbots are hard to measure thus far, and most advanced use cases are still in pilot phases. BofA analysts believe this could change as agentic AI matures. Unlike simple chatbots, agents can automate complex, multi-step processes, acting as proactive collaborators rather than reactive tools.

Amazon CEO Andy Jassy recently discussed the future of AI agents. In an email to employees, Jassy wrote: “We have strong conviction that AI agents will change how we all work and live.” He added, “There will be billions of these agents, across every company and in every imaginable field. Many of these agents have yet to be built but, make no mistake, they’re coming, and coming fast.” Jassy also noted that the company’s total corporate workforce would likely reduce as a result of efficiency gains from using AI extensively.

During a recent event, Jamie Miller, chief financial and operating officer at PayPal, called AI agents a “game changer.” PayPal is targeting use cases involving high-volume manual work, such as invoice processing and accruals. Agents can harmonize data from multiple formats and automate tasks like travel and expense compliance by auditing receipts and making recommendations. Miller emphasized the importance of having the right checks, balances, and oversight as CFOs are responsible for financial statements and compliance.