In a recent blog post, I highlighted the positive economic affect AI could have in the next ten years. To realize that benefit, businesses will need to affectively leverage data as a strategic asset to enable AI applications. Assuming a business has access to the right data assets; the question becomes how does it gain the most benefit from what it has? To this end, there are three key themes that companies should consider when shaping their approach: 1.) How can they meet customers’ needs more effectively, 2.) How can they better optimize internal operations, and 3.) How can they directly monetize the data assets at their disposal?
By some estimates, AI is set to add $13 trillion to world GDP by 2030. These results will largely be realized by the early adopters of AI with laggards losing business share.
The World Economic Forum in Davos was eye opening as AI was a prominent topic for discussion throughout event, both formally and in conversations with the delegates.
I had the pleasure of recently presenting at the AI Summit NY 2018 on “Tales from the Future of Work," discussing how businesses and the workforce in general will evolve over the next decade with the onset of AI. AI will undoubtedly revolutionize the world as we know it today. According to McKinsey, by 2030, the global GDP will increase by approximately $13 trillion due to artificial intelligence. That’s equivalent to adding Wal-Mart to Exxon to Apple to AT&T to Amazon… and then adding that to the next 683 largest US companies. Clearly, AI’s impact will be massive and far-reaching.
I had the very distinct honor of being one of the speakers at the inaugural meeting of the Atlantic Future Forum on cyber security and artificial intelligence that took place on HMS Queen Elizabeth on Monday 22nd October in New York Harbor. This was far and away the most unique and impressive conference venue that I have ever seen. The HMS Queen Elizabeth is a technological marvel and Captain Jerry Kyd and the crew were wonderful hosts.