According to multiple reports over recent weeks and months, growth inside the Artificial Intelligence industry is forecasted to begin exploding over the coming years, potentially reaching up to $22 trillion of the global Gross Domestic Product (GDP) by the year 2030. For example, speaking to an audience at the Sberbank Data Science Day in Moscow last week, Herman Gref, head of Sherbank, Russia’s largest national bank, said that “Expansion of artificial Intelligence in the coming years is likely to only grow. According to forecasts of a number of companies, if today AI contributes $1 trillion to global GDP, then according to forecasts of consulting companies, this figure will increase 16-fold over the next 12 years, until 2030, reaching $16 trillion.” While that was just an example to help people understand, the real numbers should rise somewhere closer to around $22 trillion by 2030.
Reportedly and somewhat ironically, despite AI technology inevitably stealing at least some of the jobs from the international workforce in the future, the growth of the industry itself is actually expected to add close to 10 million jobs in total to the global economy over the same time period. This includes development and growth in fields such as computing, software, robotics, drones and driverless vehicles – among others. Other fields expected to benefit greatly from the growth of AI are banking, finance, medicine, bio-information, retail, manufacturing, media and telecommunications.
According to a recent report from research firm PwC for example, in the United Kingdom alone “AI could displace roughly seven million jobs in the country” from now to 2030, but “could also create 7.2 million roles, resulting in a modest net boost of around 200,000 jobs.” A different study by McKinsey Global Institute suggests that AI could boost annual overall GDP growth by 1.2% annually percent for at least the next decade. Adding that they expect about 70% of businesses worldwide to begin utilizing AI technology in one form or another by 2030. While it might be a bit of an over-statement, some researchers are on record as stating that the global impacts/implications of the coming boom of artificial intelligence over the course of the next decade could rival that of ‘the rise of machines’ during the industrial revolution.
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