- We are at a defining moment – like the internet of the 90s – where Artificial Intelligence (AI) is moving toward mass adoption. According to Statista, at over 8 billion, there are now more AI digital voice assistants than people on the planet. To navigate this crossroad, we consider 10 key questions about AI and beyond.
- But let’s back up – what is AI? AI leverages large data sets and uses algorithms to find underlying relationships, which can be used to drive new or better business outcomes. Generative AI (think ChatGPT) is a type of AI technology that can produce various types of content, including text, imagery, audio, and synthetic data.
- And this could be big – AI could potentially contribute up to $15.7 trillion to the global economy by 2030 (source: PwC), while open data (i.e., data that anyone can access, use and share) has the potential to unlock $3.2-5.4 trillion in economic value annually by, for example, reducing emissions, increasing productivity, and improving healthcare (source: McKinsey).
Read our full analysis for a more in-depth look at these trends.
Digital machinations: payback time
Digital strategies are driving real-world productivity gains with the potential to reduce manufacturing costs by 25%.
Manufacturing: near term pressures, but longer term positives
Manufacturing faces cyclical downward pressure in the near term; autos and on-shoring should provide a longer term support.