The Real Value of AI for Business_
Experts suggest that Artificial Intelligence (AI) is a source both for excitement and apprehension. It is important to understand the real opportunities and threats for your business. Drawing on a detailed analysis of the business impact of AI, this PwC report, Sizing the Prize, identifies the most valuable commercial openings in your market and how to take advantage of them.
Some of the interesting points highlighted in the report are:
  1. Global GDP could be up to 14% higher in 2030 as a result of AI – the equivalent of an additional $15.7 trillion, making it the biggest commercial opportunity in today’s fast-changing economy.
  2. The greatest gains from AI are likely to be in China (a boost of up to 26% GDP in 2030) followed by North America (a potential 14% boost).
  3. The biggest sectoral gains will be in retail, financial services, and healthcare as AI increases productivity, product quality, and consumption.
The report answers some of the real strategic questions that business leaders often ask:
  • What impact will AI have on my organization, and is our business model threatened by AI disruption? And as these leaders look to capitalize on AI opportunities, they’re asking: Where should we target investment, and what kind of capabilities would enable us to perform better? Cutting across all these considerations is how to build AI in the responsible and transparent way needed to maintain the confidence of customers and wider stakeholders.
We have attempted to extract and put together some of the valuable information out of the report in a 2-minute video that highlights how AI can enhance and augment what enterprises can do, the value potential of which is as large, if not larger, than automation.

 

The report can be found at this URL: https://www.pwc.com/gx/en/issues/analytics/assets/pwc-ai-analysis-sizing-the-prize-report.pdf

Image credit: PwC report

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