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Oct 4, 2024 · Generative AI is transforming sectors like education, healthcare, manufacturing and the media. Responsible governance is vital to achieve equitable impact. Here are the latest insights on genAI from the World Economic Forum. Generative AI is drawing ever wider circles across science, industry, public services and our daily lives.
- Automation Potential Has Accelerated, But Adoption to Lag
- Generative AI’s Potential Impact on Knowledge Work
- Generative Ai Could Propel Higher Productivity Growth
- Companies and Business Leaders
- Policy Makers
- Individuals as Workers, Consumers, and Citizens
Based on developments in generative AI, technology performance is now expected to match median human performance and reach top-quartile human performance earlier than previously estimated across a wide range of capabilities (Exhibit 6). For example, MGI previously identified 2027 as the earliest year when median human performance for natural-langua...
Previous generations of automation technology were particularly effective at automating data management tasks related to collecting and processing data. Generative AI’s natural-language capabilities increase the automation potential of these types of activities somewhat. But its impact on more physical work activities shifted much less, which isn’t...
Global economic growth was slower from 2012 to 2022 than in the two preceding decades.8Global economic prospects, World Bank, January 2023.Although the COVID-19 pandemic was a significant factor, long-term structural challenges—including declining birth rates and aging populations—are ongoing obstacles to growth. Declining employment is among those...
How can companies move quickly to capture the potential value at stake highlighted in this report, while managing the risks that generative AI presents? How will the mix of occupations and skills needed across a company’s workforce be transformed by generative AI and other artificial intelligence over the coming years? How will a company enable the...
What will the future of work look like at the level of an economy in terms of occupations and skills? What does this mean for workforce planning? How can workers be supported as their activities shift over time? What retraining programs can be put in place? What incentives are needed to support private companies as they invest in human capital? Are...
How concerned should individuals be about the advent of generative AI? While companies can assess how the technology will affect their bottom lines, where can citizens turn for accurate, unbiased information about how it will affect their lives and livelihoods? How can individuals as workers and consumers balance the conveniences generative AI deli...
Feb 8, 2024 · In partnership with Oxford Economics, Cognizant analyzed the economic impact of generative AI in the US and forecasts this technology could add as much as $1 trillion to US gross domestic product and boost worker productivity by 10% and total factor productivity by 3.5% by 2032. Increasing the economic pie is broadly viewed as a key route to ...
Aug 25, 2023 · The addition of generative AI increases CAGR by 0.5 to 0.7 percentage points, on average, for early adopters, and 0.1 to 0.3 percentage points for late adopters. In the overall average for global growth, generative AI adds about 0.6 percentage points by 2040 for early adopters, while late adopters can expect an increase of 0.1 percentage points.
Nov 1, 2024 · The White House held a summit on Oct. 31 and Nov. 1 about the use of AI in life sciences, highlighting how AI enables solutions to complex challenges in ways that impact the world. This trend is ...
May 30, 2024 · If 2023 was the year the world discovered generative AI (gen AI), 2024 is the year organizations truly began using—and deriving business value from—this new technology. In the latest McKinsey Global Survey on AI, 65 percent of respondents report that their organizations are regularly using gen AI, nearly double the percentage from our ...
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Aug 31, 2023 · Large productivity shifts are driven by cost reduction —generative AI can do this, but the likely macroeconomic impact should not be overstated. Many firms will be losers as cost leaders reap the benefits, but the true winners will be consumers as technology drives down prices. The astonishing pace of technological progress over recent ...
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