Monday, June 19, 2023

"AI’s Economic Potential Could Reach $25.6 Trillion, McKinsey Predicts"

From, June 18:

Generative AI has the potential to rake in $4.4 trillion annually — but what impact will this have on jobs? 

Due to breakthrough developments in generative artificial intelligence (AI), the global AI market could soon rake in between $17.1 and $25.6 trillion annually, according to a new report by consulting company McKinsey.

As apps like ChatGPT and Copilot continue to transform the way business is conducted, generative AI could contribute up to $4.4 trillion to this total, with estimates doubling when you account for AI-assisted workplace tools like Dynamics 365 AI.

Sales and the marketing industries are looking to benefit the most, thanks to the tech's ability to streamline customer operations, while the manufacturing sector will cash in less from the AI gold rush.

McKinsey: Generative AI Will Add Trillions to Global Economy
While the use of AI has been simmering under the surface for decades, recent developments in generative AI have propelled the industry forward — opening up lucrative opportunities to countless businesses in its wake....

....MUCH MORE didn't link to McKinsey. Bad form.

Here's the landing page at McKinsey, June 14:

The economic potential of generative AI: The next productivity frontier

The report itself is a 64 page PDF requiring a signup.