Report: AI to Dwarf Other Tech by Early 2020s
But are these sunny predictions too low?
If you can imagine this you can take advantage of this coming paradigm shift. Remember when the internet was new? When dotcom companies exploded in numbers and wealth? That kind of excitement, along with great wealth-making possibilities, has returned—on steroids—in the development of Artificial Intelligence. The era of AI will see growth potential nothing short of phenomenal.
A recent report on artificial intelligence predicts the industry will be worth $14 billion by 2023, a huge increase from the $525 million it was worth in 2015. Exponential Growth: The report asserts that the artificial intelligence (AI) industry will reach a compound annual growth rate of 17.2 percent by 2023. The market is set to swell to a whopping $14.2 billion over the next six years, up from just $525 million in 2015.
However an even more recent set of figures is revealing far more profitable forecasts.
In another article the headline states that:
Further, the study shows:
- By 2035, AI technologies have the potential to increase productivity 40% or more.
- AI will increase economic growth an average of 1.7% across 16 industries by 2035.
- Information and Communication, Manufacturing and Financial Services will be the top three industries that gain economic growth in 2035 from AI’s benefits.
- AI will have the most positive effect on Education, Accommodation and Food Services and Construction industry profitability in 2035.
Almost daily other information is released that paints a brilliant picture for the future of the economy that relates to the onset of AI, Quantum Computing and similar industries.
Though many jobs will be eliminated by progress, as has been happening since Ford introduced assembly lines to automobile manufacturing, the technology will also create new industries requiring new skill sets. New techniques will be have to be developed and vertical markets will abound across almost every industry.