Nand Kishor Contributor

Nand Kishor is the Product Manager of House of Bots. After finishing his studies in computer science, he ideated & re-launched Real Estate Business Intelligence Tool, where he created one of the leading Business Intelligence Tool for property price analysis in 2012. He also writes, research and sharing knowledge about Artificial Intelligence (AI), Machine Learning (ML), Data Science, Big Data, Python Language etc... ...

Full Bio 
Follow on

Nand Kishor is the Product Manager of House of Bots. After finishing his studies in computer science, he ideated & re-launched Real Estate Business Intelligence Tool, where he created one of the leading Business Intelligence Tool for property price analysis in 2012. He also writes, research and sharing knowledge about Artificial Intelligence (AI), Machine Learning (ML), Data Science, Big Data, Python Language etc...

3 Best Programming Languages For Internet of Things Development In 2018
879 days ago

Data science is the big draw in business schools
1052 days ago

7 Effective Methods for Fitting a Liner
1062 days ago

3 Thoughts on Why Deep Learning Works So Well
1062 days ago

3 million at risk from the rise of robots
1062 days ago

Top 10 Hot Artificial Intelligence (AI) Technologies
345660 views

2018 Data Science Interview Questions for Top Tech Companies
97704 views

Want to be a millionaire before you turn 25? Study artificial intelligence or machine learning
92640 views

Here's why so many data scientists are leaving their jobs
90261 views

Google announces scholarship program to train 1.3 lakh Indian developers in emerging technologies
70095 views

Artificial Intelligence GDP Machine Learning

$7 Trillion boost in GDP with Artificial Intelligence

By Nand Kishor |Email | Jul 6, 2017 | 17562 Views

A new report by PwC predicts a 14% growth in global GDP by 2030(equivalent to $15.7 trillion), supporting about 10% GDP growth in UK (equivalent to $232 billion), with Artificial Intelligence as the catalyst.

Major gains will be made largely through an increasing consumer demand and their favorability of AI-enabled resources leading a rapid personalization of products and their affordability with time. This makes AI the "biggest commercial opportunity" in the economy today.

However, it may directly impact the number of jobs as per Jonathan Gillham, economist at PwC who emphasizes "Much of the focus on AI to date has been on the impact that increased automation of tasks will have on jobs".

"While we expect that the nature of jobs will change and that some will be susceptible to automation, our research shows that the boost to UK GDP that AI-driven products and services will bring will also generate significant offsetting job gains, as well as boosting average real wage levels," he says.
Here is a chart of expected GDP growth over years:

The AI sector is only becoming more competitive and the research shows gains in productivity as new products are developed and rolled out in the market.
 
The greatest economic benefits of AI are predicted to be felt in China, which could see a boost to its GDP of up to 26% by 2030 affecting sectors of retail, financial services, and healthcare.

Not just China, growth is forecasted in other countries stretching from $0.5 trillion to a whopping $7 trillion.


Know more on how AI will impact your business and GDP growth, read here



Source: HOB Team
Previous Story Next Story