Artificial intelligence is setting the foundation for the next wave of the economy. Experts say that by 2030, AI could contribute $13 trillion to the global economy. If your business can adopt a learning mindset, the benefits could be infinite.
While AI will help skyrocket revenues in the economy, it could directly affect society through job modification and displacement, but also create innovation around goods and services, and increase activity in the global marketplace.
Nations preparing for AI economy
In recent years, countries have become directly involved in AI. The U.S. increased AI safety guidelines and resources in 2019; the U.K. has incorporated ethical approaches to AI in 2018, and China has plans to become the world leader in AI.
Between 2019 and 2030, the use of AI will increase by 3x to 5x, and using AI within your business has a direct link to increasing revenue. In fact, about 70% of businesses could utilize AI technology in some form; however, the majority of companies haven’t engaged.
There are several barriers to implementing AI, but many feel it remains the future of work. Those willing to learn new skills will succeed in the AI economy. Think about the big picture, define your own success, and learn as you go along.
The following infographic provides additional steps and statistics around businesses preparing for the future world of the AI economy.