A Look at the AI Economy

Are you ready for the AI economy? Over the next decade artificial intelligence could add upwards of $13 trillion to the global economy, and by 2030 the majority of companies could be using some form of artificial intelligence. There’s a downside to all this, however. Worldwide as many as 375 million workers could need to be retrained for new jobs as AI takes over the repetitive tasks and the heavy lifting. Overall, artificial intelligence is expected to have a positive impact on the global economy, even if there is a temporary period of human displacement that follows its implementation.

So what can AI do for business? For shipping companies artificial intelligence has helped them to save fuel by optimizing delivery routes, prevented costly breakdowns by predicting when trucks and equipment need maintenance, and has prevented empty space in trucks from being moved around by optimizing deliveries. In agriculture, AI can predict planting and harvesting times for optimal yields. In retail and manufacturing, AI can optimize scheduling, increase quality, predict customer behavior, and more.

Artificial intelligence has the power to do great good in the world if we adequately prepare for it. While it may not be immediately apparent how your company can benefit from AI, more progress is being made with this technology daily. Companies like Google are working to bring AI to everyone, while governments are working to be world leaders in the technology. Learn more about the future of AI and the AI economy from the infographic below: