Page 63 - Are You Future Ready?

Chapter One - To Know the Present
Through the Past

Sideline

/ AI is the new driver for economic
growth /

McKinsey, a consulting firm, estimated that Al
could contribute unprecedented value to the
global economy. Its 2018 report compared the
economic value and productivity gains from various
technological innovations, including steam engines
in the 18th century which increased productivity
by 0.3% a year; while robots in the 19th century
increased productivity by 0.4% a year; and in 2000,
the rate rose to 0.6% due to information technology. 061
What about Al? It is expected to increase productivity
by 1.2% per year and increase global GDP by USD13
trillion by 2030. It is estimated that 70% of the world's
companies will use at least one Al function, and
large companies will fully embrace this technology.

At the same time, the report said that countries
which were pioneers in Al would enjoy an extra
25% of economic growth, while the late comers
could only have half of the extra economic growth.
Therefore, China and the United States have been
working hard on this area in recent years.