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Reports suggest that Artificial Intelligence technologies can boost employment and business revenues

Reports suggest that Artificial Intelligence technologies can boost employment and business revenues

It is believed that with the use of Artificial intelligence in the work places and business fields, many of them may lose their jobs. But, in a recent report, after surveying over 2000 business leaders across the world including India, it is found that AI has the potential to increase the job opportunities and is very critical to the development of the business organizations.

In its report titled “Leadership in the Age of AI,” Infosys said that “India, the United States and China led geographies with the most respondents stating that their organisation has realised direct, tangible results from deploying AI technologies with 75 percent, 71 percent and 61 percent respectively.”

As per an article published in ibtimes, According to Gartner in a recent report, Artificial intelligence would create 2.3 million jobs by 2020 though it may also result in elimination of 1.8 million jobs. By 2021, Artificial Intelligence and Human intelligence, combined together called as AI Augmentation would generate $2.9 trillion business value and also enhance business productivity.

In another report by Accenture titled as “Reworking the Revolution,” for businesses to thrive, there is greater need to invest in Artificial intelligence and human intelligence combined. The report further said that

“Collectively, this would lift profits by US$4.8 trillion globally over the same period. For the average S&P500 company, this equates to US$7.5 billion of revenues and a $880 million lift to profitability.”