Generative AI can automate 50% of global activities between 2030 and 2060: McKinsey
1 year, 6 months ago

Generative AI can automate 50% of global activities between 2030 and 2060: McKinsey

The Hindu  

McKinsey & Company has on Thursday predicted that half of today’s global work activities could be automated between 2030 and 2060. using generative AI. A report released by the consulting firm also said about 63 new generative AI use cases could add between $2.6 trillion to $4.4 trillion in annual global productivity. The use of generative AI could increase global labour productivity by 0.1 to 0.6% every year until 2043, compensating for declining employment growth due to aging populations, according to the report. According to McKinsey estimates, excluding the effects of generative AI, artificial intelligence, and analytics use cases could deliver $11 trillion to $17.7 trillion in value to the global economy annually.

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History of this topic

Generative AI product user base in China reaches 230 mln
3 weeks, 2 days ago

Generative AI product user base in China reaches 230 mln

China Daily  

A participant visits the exhibition booth of China Mobile at the 2024 Artificial Intelligence for Good Global Summit in Geneva, Switzerland, May 30, 2024. BEIJING -- The user base of generative artificial intelligence products in China had reached 230 million by June 2024, highlighting the country's widespread adoption of generative AI-driven upgrades across various industries, a report released Saturday stated. …

China Leads GenAI Adoption, Significantly Higher Than US: Survey
5 months, 2 weeks ago

China Leads GenAI Adoption, Significantly Higher Than US: Survey

ABP News  

China is at the forefront of adopting generative AI technology, according to a recent survey by US AI and analytics software company SAS and Coleman Parkes Research. A recent report from the United Nations' World Intellectual Property Organization further illustrates China's leadership in the field, showing that the country filed over 38,000 generative AI patents between 2014 and 2023. China's …

Disruptive AI set to transform industry
5 months, 3 weeks ago

Disruptive AI set to transform industry

China Daily  

An AI robot on display attracts visitors during the recent 2024 World Intelligence Expo in Tianjin. TONG YU/CHINA NEWS SERVICE Competition is heating up the fast-developing field of generative artificial intelligence, a cutting-edge disruptive technology that is expected to be increasingly applied to a wider range of sectors and spearhead a new round of industrial transformation and upgrade, domain experts …

Disruptive AI set to transform industry
5 months, 3 weeks ago

Disruptive AI set to transform industry

China Daily  

An AI robot on display attracts visitors during the recent 2024 World Intelligence Expo in Tianjin. TONG YU/CHINA NEWS SERVICE Competition is heating up the fast-developing field of generative artificial intelligence, a cutting-edge disruptive technology that is expected to be increasingly applied to a wider range of sectors and spearhead a new round of industrial transformation and upgrade, domain experts …

Scale of China's AI industry over 578b yuan in 2023: report
6 months ago

Scale of China's AI industry over 578b yuan in 2023: report

China Daily  

A lightweight articular module arm on display at the 2024 World Intelligence Expo at the National Convention and Exhibition Center in North China's Tianjin, June 20, 2024. The number of artificial intelligence enterprises in China has exceeded 4,000 in 2023, said a report released June 20, reported CCTV news on Thursday. According to the report, the scale of China's core …

Scale of China's AI industry over 578b yuan in 2023: report
6 months ago

Scale of China's AI industry over 578b yuan in 2023: report

China Daily  

A lightweight articular module arm on display at the 2024 World Intelligence Expo at the National Convention and Exhibition Center in North China's Tianjin, June 20, 2024. The number of artificial intelligence enterprises in China has exceeded 4,000 in 2023, said a report released June 20, reported CCTV news on Thursday. According to the report, the scale of China's core …

More firms embracing generative AI tools
6 months, 2 weeks ago

More firms embracing generative AI tools

China Daily  

Visitors check out large language models during a high-tech expo in Shenzhen, Guangdong province, on May 23. About 85 percent of Chinese business leaders plan to increase investments in generative artificial intelligence in 2024, as AI and other disruptive technologies evolve to be more human-centric and drive greater capabilities for people to amplify their potential and reinvent commerce, according to …

Global AI Chips revenue will grow 33% in 2024: Gartner
6 months, 3 weeks ago

Global AI Chips revenue will grow 33% in 2024: Gartner

The Hindu  

Revenue from artificial intelligence semiconductors globally is expected to total $71 billion in 2024, a rise of 33% from 2023, according to the latest forecast by Gartner, Inc. “Today, generative AI is fueling demand for high-performance AI chips in data centres,” said Alan Priestley, VP Analyst at Gartner. “In 2024, the value of AI accelerators used in servers, which offload …

Over 100 million humans globally will engage robocolleagues by 2026: Gartner
7 months, 1 week ago

Over 100 million humans globally will engage robocolleagues by 2026: Gartner

The Hindu  

Over 100 million humans will globally engage robocolleagues to contribute to enterprise work by 2026, forecast Gartner, U.S.-based management consulting and data research firm. According to Gartner Market Databook 2024 released by the firm, by 2025, generative AI will account for 10% of all data produced, up from less than 1% today. According to Gartner Market Databook 2024 made available …

AI Is Starting to Threaten White-Collar Jobs. Few Industries Are Immune.
10 months, 1 week ago

AI Is Starting to Threaten White-Collar Jobs. Few Industries Are Immune.

Live Mint  

Decades after automation began taking and transforming manufacturing jobs, artificial intelligence is coming for the higher-ups in the corporate office. The firm estimates the full tally of AI-related job cuts is likely higher, since many companies haven’t explicitly linked cuts to AI adoption in layoff announcements. View Full Image Graphic: WSJ Nearly two-thirds of those white-collar workers said their productivity …

AI will impact 40% of jobs globally, says IMF chief
11 months, 1 week ago

AI will impact 40% of jobs globally, says IMF chief

The Hindu  

Artificial intelligence poses risks to job security around the world but also offers a "tremendous opportunity" to boost flagging productivity levels and fuel global growth, the IMF chief told AFP. With AI expected to have less effect in developing countries, around "40% of jobs globally are likely to be impacted," she said, citing a new IMF report. "Your job may …

Artificial Intelligence to impact about 40 per cent jobs globally: IMF
11 months, 1 week ago

Artificial Intelligence to impact about 40 per cent jobs globally: IMF

India TV News  

Nearly 40 per cent of global jobs will be impacted by artificial intelligence, with advanced economies facing more exposure than emerging markets and low-income countries, according to an International Monetary Fund analysis. According to a media report, IMF Managing Director Kristalina Georgieva said in a blog post that, in most scenarios, AI is likely to exacerbate overall inequality, emphasising the …

India’s developing tech certifications presenting business opportunities: Dell
1 year ago

India’s developing tech certifications presenting business opportunities: Dell

Live Mint  

New technology certifications and standards that are being developed in India are opening up fresh business opportunities for Dell Inc., Peter Marrs, the American hardware and services company’s president for Asia-Pacific and Japan, and John Roese, its global chief technology officer, said at a media roundtable on technology trend projections for the next year. India’s developing technology certifications, regulations and …

Tech mood not as bad as in 2008; bet on strong growth: HCL Tech CEO
1 year, 2 months ago

Tech mood not as bad as in 2008; bet on strong growth: HCL Tech CEO

Live Mint  

NEW DELHI : On Thursday, HCL Technologies Ltd beat Street estimates to report a better-than-expected September quarter. In an interview, C Vijayakumar, managing director and chief executive of HCL Technologies, said the company has slashed its FY24 guidance despite this result due to a weak overall first half of this fiscal. He added that the overall industry sentiment is not …

Generative AI platforms cost millions per day right now, but might become affordable soon
1 year, 2 months ago

Generative AI platforms cost millions per day right now, but might become affordable soon

India Today  

Artificial Intelligence, particularly Generative AI, has transformed industries across the board, revolutionising everything from content creation to medical diagnostics. As of now, the cost of running Generative AI platforms often soars into the millions of dollars per day. These models are more cost effective and you will see that without doubt, the cost of running these models will go down …

AI’s disruptive economic impact, an India check
1 year, 5 months ago

AI’s disruptive economic impact, an India check

The Hindu  

Little did we know that beyond the automated factory machines, self-driving cars, and robocops, Artificial Intelligence would one day crash into our lives, authoring poems, tipping us with pickup lines, and passing the toughest examinations. Only 2% of experts believed that AI would not significantly impact per capita GDP; this included Professor Nicholas Bloom of Stanford, who pointed out historical …

Generative AI can give people 'superpowers', add $4.4 trillion annually to global economy
1 year, 6 months ago

Generative AI can give people 'superpowers', add $4.4 trillion annually to global economy

Firstpost  

A recent report from McKinsey Global Institute has stated that generative artificial intelligence is projected to contribute up to $4.4 trillion annually to the global economy. Generative AI includes chatbots like ChatGPT, Google Bard, which are capable of generating text in response to prompts, and have the potential to significantly increase productivity by automating 60 per cent to 70 per …

Nation to witness quick AI expansion, experts say
1 year, 8 months ago

Nation to witness quick AI expansion, experts say

China Daily  

Tech heavyweights step up development efforts as concerns voiced over new problems Artificial intelligence technology is expected to witness speedy growth in China and inject fresh momentum into a new round of industrial development, experts said. Pan Helin, co-director of the Digital Economy and Financial Innovation Research Center at Zhejiang University's International Business School, said, "Compared with its foreign counterparts, …

Boost to global tech sector as ChatGPT spurs AI investment bonanza
1 year, 8 months ago

Boost to global tech sector as ChatGPT spurs AI investment bonanza

The Hindu  

Published : Apr 22, 2023 16:55 IST - 5 MINS READ The artificial intelligence gold rush is truly underway. “We will talk about it in the same way as the internet itself—how it changes everything that we do as a human species.” Foster noted how generative AI is being integrated into tools companies already have, like Microsoft Office, so they …

Why Generative AI is a house divided
1 year, 8 months ago

Why Generative AI is a house divided

Live Mint  

Generative AI has polarized artificial intelligence experts with some calling for a six-month moratorium on building new systems and others arguing against the idea on the grounds that the benefits of AI far outweigh perceived risks. But the exponential progress in generative AI models that are used to create new content appears to have alarmed many, ever since the launch …

Tech Tonic: Expected technology trends in the year 2023
1 year, 11 months ago

Tech Tonic: Expected technology trends in the year 2023

Firstpost  

Fuelled by accelerated digitalisation, the world is at a fascinating juncture of cutting-edge tech — of super apps, big data, emerging technologies, and path-breaking innovation. While AI, ML, and IoT will rule in 2023 and beyond, the tech trajectory will be partial towards sustainable, energy-efficient climate-saving technology. Here’s what we can expect about the tech trends in 2023: CEOs’ perspectives …

AI and the future of work: will Artificial Intelligence affect the workforce?
2 years ago

AI and the future of work: will Artificial Intelligence affect the workforce?

The Hindu  

Experts thought that Artificial Intelligence would first automate the menial tasks. Today, AI is writing competent code, producing protein structures as well as product strategies, jotting down screenplays, reimagining our sorry bodies as ripped superhero avatars, generating film, playing music. AI systems inside Waymo cars map from current location, speed, relative position of surrounding vehicles, desired destination and related cues …

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