AI has potential to create $6 to $8 tn in global economic value: Report

Generative artificial intelligence (AI) has the potential to impact 44 per cent of all working hours across industries, enable productivity enhancements across 900 different types of jobs and create $6 to $8 trillion in global economic value, a new report said on Tuesday.

According to the global IT services firm Accenture, about 95 per cent of business leaders globally believe that making technology more human will massively expand the opportunities of every industry.

“As AI, spatial computing and body-sensing technologies evolve to a point where tech appears to imitate human capabilities and seem invisible, what you’ll see left are the people — empowered with new capabilities to accomplish things they once considered impossible,” said Paul Daugherty, chief technology and innovation officer at Accenture.

“Organisations that act now to reinvent their business and ways of working using ‘human by design’ technologies will redefine what it means to be an industry leader,” he added.

Moreover, the report noted that 96 per cent of executives agree that leveraging AI agent ecosystems will be a significant opportunity for their organisation in the next three years.

About 94 per cent of executives agree that human interface technologies will let us better understand behaviours and intentions, transforming human-machine interaction.

“Human-centered technologies like generative AI are poised to unleash human potential and deliver a staggering array of business and societal benefits, but only if we take a balanced, ‘human by design’ approach that ensures these technologies are used fairly and responsibly,” said Daugherty.

The report also mentioned that 93 per cent of executives agree that with rapid technological advancements, it is more important than ever for organisations to innovate with purpose.