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Firms must seize AI-driven growth
If businesses invest in Artificial Intelligence (AI) and human-machine collaboration with the same results of top performing companies, they could boost revenues by 38 percent by 2022 and raise employment levels by 10 percent.
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If businesses invest in Artificial Intelligence (AI) and human-machine collaboration with the same results of top performing companies, they could boost revenues by 38 percent by 2022 and raise employment levels by 10 percent. (Shutterstock.com/File)
A
s stated in the report entitled Reworking the Revolution: Are you ready to compete as intelligent technology meets human ingenuity to create the future workforce?, and issued at Davos, estimates that if businesses invest in Artificial Intelligence (AI) and human-machine collaboration with the same results of top performing companies, they could boost revenues by 38 percent by 2022 and raise employment levels by 10 percent.
Collectively, this would lift profits by US$4.8 trillion globally over the same period. For the average S&P500 company, this equates to $7.5 billion in revenue and a $880 million lift in profitability.
While the report was largely meant to provoke thought, and doesn’t specifically address Indonesia — the industries it is focused on include energy and automotive, two backbone economic drivers of the nation. Retail executives were also surveyed.
And given Indonesia’s sprawling archipelago and enthusiastic use of mobile technologies it is easy to see how AI-driven technologies, such as chatbots that could answer customer service question, could help retailers sell more.
