The AI Economy

Artificial intelligence could bring in as much as $13 trillion to the global economy by 2020 – but implementing AI tech comes with many unique challenges due to its distinct nature. By 2030 around 70% of companies could utilize some kind of AI tech and a 16% potential increased GDP of local economies, driven by AI expansion. Between 2019 and 2030, AI utilization will increase exponentially as much as 3 to 5 times and implementing AI can skyrocket growth. Using AI will save money, many global industries need AI, and AI adoption brings net economic benefit.

 

AI could, by 2030, create between 250 to 280 million new jobs across the world and could help retail, healthcare, public works, and agriculture. The people who will succeed the most in a new AI economy will be people that are ready for a change and those that are willing to learn new skills. AI will create new opportunities for innovation as more than a third of workers believe the future with AI is full of exciting possibilities. AI will improve society by working with values, improving systems to better the human race, and AI will focus on good and advance steps taken to the better of our planet and our people.

 

But even with all of these extra benefits of AI, the majority of companies are far behind. Industry struggles in countries lacking in infrastructure and by 2030, 70% of companies worldwide may be utilizing at least one type of AI tech, but less than half would be from widespread adoption. Implementing AI could be further complicated by the flaws that come with people working with AI, such as difficulty analyzing results and even the possibility of bias.

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Find out how AI is changing the economy and how to change your business with it here:

 

Brian Wallace

Brian Wallace is the Founder and President of NowSourcing, an industry leading infographic design agency based in Louisville, KY and Cincinnati, OH which works with companies that range from startups to Fortune 500s. Brian also runs #LinkedInLocal events nationwide, hosts the Next Action Podcast, and has been named a Google Small Business Advisor for 2016-present.

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Brian Wallace

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