Friday, July 7, 2017

AI Can Boost Productivity 40%, Accenture Argues

Artificial intelligence has the potential to increase productivity 40 percent or more by 2035, according to Accenture and Frontier Economics.

AI could increase economic growth rates by an average of 1.7 percent across all industries through 2035, according to consultants at Accenture.

Information and communication (4.8 percent), manufacturing (4.4 percent) and financial services (4.3 percent) are the three sectors that will see the highest annual gross value added growth rates driven by AI in 2035.

The bottom line is that AI has the potential to boost profitability an average of 38 percent by 2035 and lead to an economic boost of $14T across 16 industries in 12 nations by 2035.

Artificial intelligence adds value by boosting the productivity of some other process or product. AI is not so much a “big new product” as a feature of a cloud computing service, analytics capability or an enabler of a product’s features (voice recognition for home computing appliances).

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