Credit from Visual Capitalist
Science fiction didn’t do a great job in preparing us for our first real encounters with AI.
Most people probably still envision AI in the form of a sentient robot that can talk, move around, and experience feelings – something like WALL-E or C-3PO from the movies.
Although that still may be the dream, it turns out that the current iteration of AI is actually quite different. With modern AI, all the “thinking” gets done in the cloud, and the algorithms aren’t tied to the identity of a physical machine like we would have expected from the big screen.
The modern iteration of AI works silently in the background without a face, and it’s starting to impact everything it touches. It’s also set to transform our economy at warp speed.
Putting Modern AI Into Context
Today’s infographic from TechJury helps you understand the context around this emerging force.
Entitled “The AI Revolution”, it covers the brief history of AI, the industries that will be affected, as well as some key AI statistics that are likely to catch your eye.
Note: The infographic references a chatbot named Eugene Goostman that allegedly passed the Turing Test in 2014. Please note that this is a very contentious claim: while it did fool 33% of judges that it was a human, many experts object to the claim for a wide variety of reasons.
Artificial intelligence is here and it’s transforming our economy.
One estimate by PwC puts the global impact of AI at $15.7 trillion by 2030, while Accenture says that AI could double the rate of economic growth in developed countries by 2035.
If either of these two predictions come true, it will mean big change for almost every industry.
The AI Revolution: By the Numbers
What does it look like when AI takes the world be storm?
The following stats will give you an indication on the potential impact of the AI revolution, and how it’s already shaping the future of business thinking:
The number of AI startups has increased 14x since the year 2000
The amount of investment in AI startups has increased 6x since 2000
15% of enterprises in 2018 already use AI, but 31% more will come on board in the next 12 months
72% of executives see AI as being the most significant future business advantage
84% of global businesses see AI as providing a competitive advantage
41% of consumers believe AI will improve their lives in some way
By 2020, businesses using AI to drive consumer insights will see $1.2 trillion more per year than their less-informed competitors
So while the AI revolution is not led by the identifiable face of a friendly (or antagonistic) robot in a physical form, experts agree that impact of AI on business will be profound.