American leaders are seeing the enormous economic potential of AI. A recent report from McKinsey pegs that global economic impact at between $17 and $25 trillion annually by 2030. (That’s an amount comparable to the current U.S. GDP.)
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A recent McKinsey study projects that generative AI could add between $2.6 trillion and $4.4 trillion annually to the global economy by 2030. In the Asia-Pacific region, generative AI drives significant economic opportunities. In Australia, it is estimated that generative AI could contribute up to AUD 115 billion (around $76 billion) annually to the economy by 2030, depending on adoption and how workers transition to other tasks. In Japan, it is estimated generative AI could unlock JPY 148.7 trillion (around $1.1 trillion) in productive capacity. The five pillars that determine AI readiness include: infrastructure, data, workforce development, ethics, and integration. #sustainability #AI #economic #innovation https://lnkd.in/eTfQ2q2P
How Asia Pacific can use AI to unlock economic opportunity
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How AI is affecting the future of work, economies, industries as well as global issues📌 Not all doom & gloom 🚀
Artificial Intelligence | Strategic Intelligence | World Economic Forum
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|Business Analyst|, More then 10yrs experience |Global Transaction Banking|, |Wealth Management|, |Treasury & Capital Markets|, |Banking Operations|,| Credit|,| Risk Management| |Trade Finance|, |Business Analysis|,|AI|
Embark on a journey through the AI revolution, where technology meets economic transformation and societal shifts. Discover the delicate balance between innovation and regulation, and the impact on global markets and ethical considerations. This narrative isn't just about the future of technology; it's about our economy and our role in shaping it. AI promises increased productivity and economic growth, yet challenges such as job displacement and the need for reskilling loom large. Regulations must balance safety and growth, preventing misuse while fostering innovation. International collaboration is crucial for standardized AI governance, ensuring equitable benefits. The centralization of AI poses risks of monopolistic behaviors and power imbalances, demanding strict regulations. Beyond technological advancements, the misuse of AI in disinformation campaigns threatens democratic processes and market stability. This landscape requires ongoing evaluation and adaptive regulations to maintain a balance between safety and innovation. For Gen Z and millennials, understanding this complex interplay is vital for navigating the future job market and contributing to a balanced, ethical AI-driven economy. The full article delves deeper, offering insights and guidance on thriving in this evolving landscape. Navigate finances with ease: Prosper Pirates, your steadfast guide. #FinancialFreedom #ProsperPirates Contact us at prosperpirates8@gmail.com to join our vibrant community. https://lnkd.in/gRTayqzp
AI Unleashed: Mastering the Economic Revolution & Power Dynamics in the AI Era | Proper Pirates
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From this story by Daron Acemoglu: "While some believe that machines soon will do everything humans can do, ushering in a new age of boundless prosperity, other predictions are at least more grounded. For example, Goldman Sachs predicts that generative AI will boost global GDP by 7 per cent over the next decade, and the McKinsey Global Institute anticipates that the annual GDP growth rate could increase by 3-4 percentage points between now and 2040. For its part, The Economist expects that AI will create a blue-collar bonanza." Art by CoPilot #AI https://buff.ly/4523ato #GDP #economy #AI
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The latest Economist Impact study explores GenAI's transformative impact across Asia-Pacific. Find key insights on how AI is reshaping industries from government to finance: http://spr.ly/60425iYsM
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For Asia-Pacific countries to succeed in the age of #AI — and particularly generative AI — their economies require a sufficient level of AI readiness. Salesforce VP Sassoon Grigorian shares 5 ways Asia-Pacific economies can operationalize AI to unlock economic opportunity. #wef
How Asia Pacific can use AI to unlock economic opportunity
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Don't underestimate the impact of #AI -- in the video below, investor Cathie Wood predicts global GDP growth will accelerate from 2-3% to 6-9% with the proper implementation of AI, leading to historical productivity gains. The boost to GDP can translate to higher profits, wages, and lower prices. As a society, it's our responsibility to ensure these gains end up in all three buckets. Link to the Ted Talk video in comments. #artificialintelligence #productivity #responsibility #globalGDP
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AI's Economic Impact The future of the global economy is being with no doubt shaped by artificial intelligence. A recent study by Price Waterhouse Cooper (PwC) projects that by 2030, AI could contribute a staggering USD 15 trillion. This isn't just a number; it's a testament to the transformative power of AI across industries. As businesses, we need to ask ourselves: Are we ready to harness this potential and be part of this economic revolution? https://lnkd.in/d2R-XW5p
PwC’s Global Artificial Intelligence Study: Sizing the prize
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Operations Officer at Epoch Education, Inc | Leader in Organizational & Structural Transformation | Communication Expert and Facilitator for ED&I and Belonging | Advocate for Inclusive Digital Strategy
Efforts are underway to address algorithmic bias and the effects of automation, tackling biased valuations of historically disadvantaged groups remains a challenge. The authors in this HBR passage propose collaboration between stakeholders, industries, governments, and scholars to forge new strategies prioritizing human-centric and equitable gains from AI. This approach is essential for a smoother, more inclusive, and stable transition into our AI-augmented future. I have to say, I do agree with this approach. #AIBias #BiasesinTechnology #EquitableAI
Eliminating Algorithmic Bias Is Just the Beginning of Equitable AI
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A True Leadership of Excellence: Global Servant Leader, CEO, Board of Directors, Quintessential Academic Intellectual, Risk MGMT Advocate, Consummate Civil Servant with Hands-on Expertise and Digital Growth Mindset.
Is Artificial Intelligence (AI) the defining technology of our time in the digital age of unprecedented change and disruptive era of cutting-edge science, data engineering and emerging technologies? What is Artificial Intelligence (AI)? Does Generative Artificial intelligence (GenAI) have the potential to eliminate waste, streamline inefficient processes, and prevent FRAUD to help organizations save millions, billions, and even trillions of dollars? I read while watching the video of the IMF First Deputy Managing Director, Gita Gopinath. She cautioned that the widespread of AI could turn an ordinary downturn into a deep and prolonged economic crisis by causing large scale disruptions in labor markets, in financial markets, and in supply chain. As a lifelong learner, voracious reader, world-class traveler, and a successful global servant, transformational and inspirational leader with world-class experience, I am passionate about upskilling and reskilling opportunities to sharpen my global leadership skills in highly complex global business operations while enhancing my expert-knowledge of STEM. Together, we can close digital divide, bridge skills gaps, unlock human potential and unleash productivity.
REPLAY: At the AI for Good Global Summit 2024, IMF First Deputy Managing Director Gita Gopinath cautioned that the widespread use of AI could turn an ordinary downturn into a deep and prolonged economic crisis by causing large-scale disruptions in labor markets, in financial markets, and in supply chains. Read her speech and watch the video. https://lnkd.in/eiPt_V3M
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