With Artificial Intelligence (AI) and robotic automation projected to contribute up to $2.2 trillion to the economy by 2030, AI is poised to have a revolutionary effect on enterprises, job markets and the economy. According to PwC, global GDP will be 14% higher in 2030 as a result of AI and productivity improvements are expected to account for half of all gains to 2030.
AI presents real business opportunities in improving the top line revenues as it enables organizations to break prevailing trade-offs between speed, cost, and quality and perform tasks that traditionally could only be performed by humans. However, hype-driven and ill-informed investments in AI will not only fail to capture the benefits of AI but also lead to losses. Thus, appropriate investments and considerations are needed to leverage on AI to dramatically improve performances and create competitive advantages for organizations.