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| the economic potential of generative ai: AI Revolution Tero Ojanperä, 2024-11-14 The AI Revolution is a practical guide to using new AI tools, such as ChatGPT, DALLE and Midjourney. Learn how to multiply your productivity by guiding or prompting AI in various ways. The book also introduces Microsoft Copilot, Google Bard, and Adobe Photoshop Generative Fill, among other new applications. ChatGPT reached a hundred million users in just two months after its release, faster than any other application before. This marked the advent of the generative AI era. Generative AI models generate text, images, music, videos, and even 3D models in ways previously thought impossible for machines. The book explains in an understandable manner how these AI models work. The book provides examples of how AI increases productivity, which professions are changing or disappearing, and how job markets will evolve in the coming years. With this book, you'll learn to recognize the opportunities and risks AI offers. Understand what this change demands from individuals and companies and what strategic skills are required. The book also covers legal questions caused by generative AI, like copyrights, data protection, and AI regulation. It also ponders societal impacts. AI produces content, thus influencing language, culture, and even worldviews. Therefore, it's crucial to understand by whom and how AI is trained. The AI revolution started by ChatGPT is just the beginning. This handbook is for you if you want to keep up with the rapid development of AI. |
| the economic potential of generative ai: Generative AI Business Applications David E. Sweenor, Yves Mulkers, 2024-01-31 Within the past year, generative AI has broken barriers and transformed how we think about what computers are truly capable of. But, with the marketing hype and generative AI washing of content, it’s increasingly difficult for business leaders and practitioners to go beyond the art of the possible and answer that critical question–how is generative AI actually being used in organizations? With over 70 real-world case studies and applications across 12 different industries and 11 departments, Generative AI Business Applications: An Executive Guide with Real-Life Examples and Case Studies fills a critical knowledge gap for business leaders and practitioners by providing examples of generative AI in action. Diving into the case studies, this TinyTechGuide discusses AI risks, implementation considerations, generative AI operations, AI ethics, and trustworthy AI. The world is transforming before our very eyes. Don’t get left behind—while understanding the powers and perils of generative AI. Full of use cases and real-world applications, this book is designed for business leaders, tech professionals, and IT teams. We provide practical, jargon-free explanations of generative AI's transformative power. Gain a competitive edge in today's marketplace with Generative AI Business Applications: An Executive Guide with Real-Life Examples and Case Studies. Remember, it's not the tech that's tiny, just the book!™ |
| the economic potential of generative ai: Generative AI in Practice Bernard Marr, 2024-03-26 An indispensable look at the next frontier of technological advancement and its impact on our world Generative AI is rewriting the rulebook with its seemingly endless capabilities, from crafting intricate industrial designs, writing computer code, and producing mesmerizing synthetic voices to composing enchanting music and innovating genetic breakthroughs. In Generative AI in Practice, renowned futurist Bernard Marr offers readers a deep dive into the captivating universe of GenAI. This comprehensive guide introduces you to the basics of this groundbreaking technology and outlines the profound impact that GenAI will have on business and society. Professionals, technophiles, and anyone with an interest in the future will need to understand how GenAI is set to redefine jobs, revolutionize business, and question the foundations everything we do. In this book, Marr sheds light on the most innovative real-world GenAI applications through practical examples, describing how they are moulding industries like retail, healthcare, education, finance, and beyond. You'll enjoy a captivating discussion of innovations in media and entertainment, seismic shifts in advertising, and the future trajectory of GenAI. You will: Navigate the complex landscapes of risks and challenges posed by Generative AI Delve into the revolutionary transformation of the job market in the age of GenAI Understand AI's transformative impact on education, healthcare, and retail Explore the boundless potentials in media, design, banking, coding, and even the legal arena Ideal for professionals, technophiles, and anyone eager to understand the next big thing in technology, Generative AI In Practice will equip readers with insights on how to implement GenAI, how GenAI is different to traditional AI, and a comprehensive list of generative AI tools available today. |
| the economic potential of generative ai: The Generative AI Practitioner’s Guide Arup Das, David Sweenor, 2024-07-20 Generative AI is revolutionizing the way organizations leverage technology to gain a competitive edge. However, as more companies experiment with and adopt AI systems, it becomes challenging for data and analytics professionals, AI practitioners, executives, technologists, and business leaders to look beyond the buzz and focus on the essential questions: Where should we begin? How do we initiate the process? What potential pitfalls should we be aware of? This TinyTechGuide offers valuable insights and practical recommendations on constructing a business case, calculating ROI, exploring real-life applications, and considering ethical implications. Crucially, it introduces five LLM patterns—author, retriever, extractor, agent, and experimental—to effectively implement GenAI systems within an organization. The Generative AI Practitioner’s Guide: How to Apply LLM Patterns for Enterprise Applications bridges critical knowledge gaps for business leaders and practitioners, equipping them with a comprehensive toolkit to define a business case and successfully deploy GenAI. In today’s rapidly evolving world, staying ahead of the competition requires a deep understanding of these five implementation patterns and the potential benefits and risks associated with GenAI. Designed for business leaders, tech experts, and IT teams, this book provides real-life examples and actionable insights into GenAI’s transformative impact on various industries. Empower your organization with a competitive edge in today’s marketplace using The Generative AI Practitioner’s Guide: How to Apply LLM Patterns for Enterprise Applications. Remember, it’s not the tech that’s tiny, just the book!™ |
| the economic potential of generative ai: Beyond AI Ken Huang, Yang Wang, Feng Zhu, Xi Chen, Chunxiao Xing, 2024-01-27 This book explores the transformative potential of ChatGPT, Web3, and their impact on productivity and various industries. It delves into Generative AI (GenAI) and its representative platform ChatGPT, their synergy with Web3, and how they can revolutionize business operations. It covers the potential impact surpassing prior industrial revolutions. After providing an overview of GenAI, ChatGPT, and Web3, it investigates business applications in various industries and areas, such as product management, finance, real estate, gaming, and government, highlighting value creation and operational revolution through their integration. It also explores their impact on content generation, customer service, personalization, and data analysis and examines how the technologies can enhance content quality, customer experiences, sales, revenue, and resource efficiency. Moreover, it addresses security, privacy, and ethics concerns, emphasizing the responsible implementation of ChatGPT and Web3. Written by experts in this field, this book is aimed at business leaders, entrepreneurs, students, investors, and professionals who are seeking insights into ChatGPT, ChatGPT Plug-in, GPT-based autonomous agents, and the integration of Gen AI and Web3 in business applications. |
| the economic potential of generative ai: Beyond Quantity Andreas Sudmann, Anna Echterhölter, Markus Ramsauer, Fabian Retkowski, Jens Schröter, Alexander Waibel, 2023-11-30 How do artificial neural networks and other forms of artificial intelligence interfere with methods and practices in the sciences? Which interdisciplinary epistemological challenges arise when we think about the use of AI beyond its dependency on big data? Not only the natural sciences, but also the social sciences and the humanities seem to be increasingly affected by current approaches of subsymbolic AI, which master problems of quality (fuzziness, uncertainty) in a hitherto unknown way. But what are the conditions, implications, and effects of these (potential) epistemic transformations and how must research on AI be configured to address them adequately? |
| the economic potential of generative ai: The Work of the Future David H. Autor, David A. Mindell, Elisabeth Reynolds, 2022-06-21 Why the United States lags behind other industrialized countries in sharing the benefits of innovation with workers and how we can remedy the problem. The United States has too many low-quality, low-wage jobs. Every country has its share, but those in the United States are especially poorly paid and often without benefits. Meanwhile, overall productivity increases steadily and new technology has transformed large parts of the economy, enhancing the skills and paychecks of higher paid knowledge workers. What’s wrong with this picture? Why have so many workers benefited so little from decades of growth? The Work of the Future shows that technology is neither the problem nor the solution. We can build better jobs if we create institutions that leverage technological innovation and also support workers though long cycles of technological transformation. Building on findings from the multiyear MIT Task Force on the Work of the Future, the book argues that we must foster institutional innovations that complement technological change. Skills programs that emphasize work-based and hybrid learning (in person and online), for example, empower workers to become and remain productive in a continuously evolving workplace. Industries fueled by new technology that augments workers can supply good jobs, and federal investment in R&D can help make these industries worker-friendly. We must act to ensure that the labor market of the future offers benefits, opportunity, and a measure of economic security to all. |
| the economic potential of generative ai: Logistics in Transition Carlo Secchi, Alessandro Gili, 2024-10-17 International cooperation is essential for fostering global connectivity and building resilient logistics systems. Geopolitical shifts and climate change present significant challenges that could disrupt the efficient operation of these systems. In the face of global instability, diversification and redundancy in transportation systems and modes are vital, with supply security forming the backbone of the global economy's smooth functioning. How can the resilience of value chains be bolstered amidst geopolitical pressures while navigating these dual transitions? How can logistics adapt to and capitalize on the new wave of potentially protectionist industrial policies? What strategies can be employed to mitigate risks, particularly for Europe, Italy, and the businesses involved? |
| the economic potential of generative ai: Predictive Analytics and Generative AI for Data-Driven Marketing Strategies Hemachandran K, Debdutta Choudhury, Raul Villamarin Rodriguez, Jorge A. Wise, Revathi T, 2024-12-10 In providing an in-depth exploration of cutting-edge technologies and how they are used to support data-driven marketing strategies and empower organizations to make the right decisions, Predictive Analytics and Generative AI for Data-Driven Marketing Strategies includes real-world case studies and examples from diverse marketing domains. This book demonstrates how predictive analytics and generative AI have been successfully applied to solve marketing challenges and drive tangible results. This book showcases emerging trends in predictive analytics and generative AI for marketing, and their potential impact on the future of data-driven marketing. This book is meant for professionals and scholars to gather the skills and resources to use predictive analytics and generative AI effectively for marketing strategies. This book: • Examines the different predictive analytics models and algorithms, such as regression analysis, decision trees, and neural networks, and demonstrates how they may be utilized to get insightful conclusions from marketing data. • Includes generative AI techniques, such as generative adversarial networks (GANs) and variational autoencoders (VAEs), showcasing how these techniques can generate synthetic data for marketing insights and decision-making. • Highlights the importance of data-driven marketing choices and illustrates how generative AI and predictive analytics may be quite useful in this context. • Integrates the principles of data science with marketing concepts, offering a cohesive understanding of how predictive analytics and generative AI can power data-driven marketing decisions. • Presents the recent advances in predictive analytics and generative AI and discusses how they can affect the area of data-driven marketing. |
| the economic potential of generative ai: Handbook of Research on Strategic Leadership in the Fourth Industrial Revolution Zeki Simsek, Ciaran Heavey, Brian C. Fox, 2024-07-05 This pioneering Handbook surveys the research landscape of strategic leadership in what is referred to as the ‘Fourth Industrial Revolution’: a fusion of technologies and systems which blurs the boundaries between the digital, physical and biological spheres. |
| the economic potential of generative ai: Decoding Generative AI Farabi Shayor, Kelina Lowther-Harris, Kirthana Srinivasan, Anoushka Samanta, 2024-04-16 The emergence of Generative AI has marked a significant turning point, heralding a new age of innovation and intellectual exploration. Much like a compelling narrative, this advancement in artificial intelligence has captivated the global community and ushered in an unprecedented surge of innovation. For many years, the subtle hum of AI has been interconnected into the fabric of our society. Devices such as Echo (Alexa) and Google Home, once considered avant-garde, are now seamlessly integrated into our homes and vehicles, becoming essential navigators in our daily journeys. However, this new phase of AI evolution is distinct. Capable of enhanced ability, these new generative AI systems could easily discern the intuitive needs of their end-users. With a mere command or a simple image, generative AI systems can draft comprehensive reports, write legal documents, or produce intricate visual masterpieces. Their proficiency can also be extended to routine and mundane tasks, smoothly managing administrative duties, writing correspondences, and providing invaluable support in professional settings. Although these foundation models require a vast amount of training data and billions of parameters to be effective, the outcomes are equally remarkable. Technology companies and investors, recognising the potential, embarked on an investment spree; steering a new era for the development of specialised models such as Microsoft CoPilot, Midjourney, ChatGPT, and so on. As these technology companies continue to improve their language models, each version seems to be more refined than its predecessor. Foremost among these are the Large Language Models (LLMs), emblematic of this AI renaissance. Now, with voice-activated capabilities, generative AIs have become capable of much more in the relatively short span of their existence. With the integration of voice-activated features, combined with their capabilities to speak like a human being, their potential continues to grow exponentially. They aren’t labelled as ‘chatbots’ anymore – these AI systems signify a technological paradigm shift, reshaping humanity’s understanding of technology, automation, and creative expression. However, with such shift comes the imperative need for governance and control. The unchecked expansion of AI poses unmitigated challenges. In reality, these advanced AIs have the potential to be transformative and destructive parallelly. Thus, it is necessary to establish guidelines and oversight to ensure the ethical deployment of such systems which this book focuses on. As society stands at this transformative crossroads, parallels are being drawn to the imaginative world of fiction. The concept of ‘Jarvis’ AI from the fictitious world appears provocatively close to becoming a reality. The epoch of generative AI has truly dawned, promising a future where technological prowess and human aspiration unite. |
| the economic potential of generative ai: New Perspectives and Possibilities in Strategic Management in the 21st Century: Between Tradition and Modernity Martínez-Falcó, Javier, Marco-Lajara, Bartolomé, Sánchez-García, Eduardo, Millan-Tudela, Luis A., 2023-07-28 The field of strategic management is facing new challenges, as two phenomena, sustainability, and information and communication technologies, have altered the classic pillars of business strategy. These far-reaching changes require companies to make rapid adaptations in order to achieve optimal situations, which can no longer be developed as they did in the past. To help academics and managers understand the new fields of study and research within strategic management, Javier Martínez-Falcó, Assistant Professor at the University of Alicante, has written a groundbreaking book, New Perspectives and Possibilities in Strategic Management in the 21st Century: Between Tradition and Modernity. This book is an essential guide for reflection and critique, offering insights into the new currents and challenges of the discipline, shedding light on the modernization of strategies in the corporate world. It addresses the renewal and future directions of the field, covering topics such as sustainability, circular economy, green innovation, and information and communication technologies, including blockchain, big data, artificial intelligence, and IoT. The book serves as a must-read for academics, academic students, and policymakers interested in gaining a deeper understanding of current issues impacting deliberate business planning and organization. It also serves as a valuable support material for undergraduate and master's business students, providing a comprehensive understanding of the new fields of study in the discipline. This book is an excellent addition to any academic collection and offers a thought-provoking perspective on strategic management. |
| the economic potential of generative ai: Mastering the Data Paradox Nitin Seth, 2024-03-18 There are two remarkable phenomena that are unfolding almost simultaneously. The first is the emergence of a data-first world, where data has become a central driving force, shaping industries and fueling innovation. The second is the dawn of the AI age, propelled by the advent of Generative AI, that has created the possibility to leverage the data of the world for the first time. The convergence of these two, with data as the common denominator, holds immense promise and the opportunities are boundless. This book provides us with opportunities to push our thinking, to innovate, to transform and to create a better future at all levels—individual, enterprise and the world. |
| the economic potential of generative ai: Robot-Proof, revised and updated edition Joseph E. Aoun, 2024-10-15 A fresh look at a “robot-proof” education in the new age of generative AI. In 2017, Robot-Proof, the first edition, foresaw the advent of the AI economy and called for a new model of higher education designed to help human beings flourish alongside smart machines. That economy has arrived. Creative tasks that, seven years ago, seemed resistant to automation can now be performed with a simple prompt. As a result, we must now learn not only to be conversant with these technologies, but also to comprehend and deploy their outputs. In this revised and updated edition, Joseph Aoun rethinks the university’s mission for a world transformed by AI, advocating for the lifelong endeavor of a “robot-proof” education. Aoun puts forth a framework for a new curriculum, humanics, which integrates technological, data, and human literacies in an experiential setting, and he renews the call for universities to embrace lifelong learning through a social compact with government, employers, and learners themselves. Drawing on the latest developments and debates around generative AI, Robot-Proof is a blueprint for the university as a force for human reinvention in an era of technological change—an era in which we must constantly renegotiate the shifting boundaries between artificial intelligence and the capacities that remain uniquely human. |
| the economic potential of generative ai: The Secrets of AI Value Creation Michael Proksch, Nisha Paliwal, Wilhelm Bielert, 2024-03-04 Unlock unprecedented levels of value at your firm by implementing artificial intelligence In The Secrets of AI Value Creation: Practical Guide to Business Value Creation with Artificial Intelligence from Strategy to Execution, a team of renowned artificial intelligence leaders and experts delivers an insightful blueprint for unlocking the value of AI in your company. This book presents a comprehensive framework that can be applied to your organisation, exploring the value drivers and challenges you might face throughout your AI journey. You will uncover effective strategies and tactics utilised by successful artificial intelligence (AI) achievers to propel business growth. In the book, you’ll explore critical value drivers and key capabilities that will determine the success or failure of your company’s AI initiatives. The authors examine the subject from multiple perspectives, including business, technology, data, algorithmics, and psychology. Organized into four parts and fourteen insightful chapters, the book includes: Concrete examples and real-world case studies illustrating the practical impact of the ideas discussed within Best practices used and common challenges encountered when first incorporating AI into your company’s operations A comprehensive framework you can use to navigate the complexities of AI implementation and value creation An indispensable blueprint for artificial intelligence implementation at your organisation, The Secrets of AI Value Creation is a can’t-miss resource for managers, executives, directors, entrepreneurs, founders, data analysts, and business- and tech-side professionals looking for ways to unlock new forms of value in their company. The authors, who are industry leaders, assemble the puzzle pieces into a comprehensive framework for AI value creation: Michael Proksch is an expert on the subject of AI strategy and value creation. He worked with various Fortune 2000 organisations and focuses on optimising business operations building customised AI solutions, and driving organisational adoption of AI through the creation of value and trust. Nisha Paliwal is a senior technology executive. She is known for her expertise in various technology services, focusing on the importance of bringing AI technology, computing resources, data, and talent together in a synchronous and organic way. Wilhelm Bielert is a seasoned senior executive with an extensive of experience in digital transformation, program and project management, and corporate restructuring. With a proven track record, he has successfully led transformative initiatives in multinational corporations, specialising in harnessing the power of AI and other cutting-edge technologies to drive substantial value creation. |
| the economic potential of generative ai: Proceedings of the 9th International Conference on Engineering Management and the 2nd Forum on Modern Logistics and Supply Chain Management (ICEM-MLSCM 2024) Colin W. K. Chen, 2024 |
| the economic potential of generative ai: Artificial Intelligence in Architecture Matias del Campo, 2024-05-13 Artificial intelligence (AI) applications in architectural design have achieved a critical mass and exploded into the mainstream of architectural imaginations. From practical applications in design and constructionto the implications for architectural theory to a plethora of novel tools for accelerated morphological studies, what has become clear is that the discipline is passing a threshold that fundamentally changes architecture as a whole. However, the most radical change is the interrogation and novel discussion of authorship and agency in design ecologies driven by synthetic imaginations. What does it mean for authorship when more than 50 per cent of the content is generated by a nonhuman player? This issue seems more pressing than ever. In a world that is being transformed by AI on a daily basis, what is the role of the sole genius, and designers, artists and architects? This AD dives deep into current discussions about the human position in architectural design, which is increasingly entangled in an AI-driven design context. Contributors: Cesare Battelli, Phil Bernstein, Mario Carpo, Benjamin Ennemoser and Ingrid Mayrhofer-Hufnagl, Sarah Fox, Wanyu He, Andrew Kudless, Ryan Vincent Manning, Sandra Manninger, Kyle Steinfeld, Andrew Witt, and Michael Young. |
| the economic potential of generative ai: The New Empire of AI Rachel Adams, 2024-11-05 As AI takes hold across the planet and wealthy nations seek to position themselves as global leaders of this new technology, the gap is widening between those who benefit from it and those who are subjugated by it. As Rachel Adams shows in this hard-hitting book, growing inequality is the single biggest threat to the transformative potential of AI. Not only is AI built on an unequal global system of power, it stands poised to entrench existing inequities, further consolidating a new age of empire. AI’s impact on inequality will not be experienced in poorer countries only: it will be felt everywhere. The effects will be seen in intensified international migration as opportunities become increasingly concentrated in wealthier nations; in heightened political instability and populist politics; and in climate-related disasters caused by an industry blind to its environmental impact across supply chains. We need to act now to address these issues. Only if the current inequitable trajectory of AI is halted, the incentives changed and the production and use of AI decentralized from wealthier nations will AI be able to deliver on its promise to build a better world for all. |
| the economic potential of generative ai: Marketing with AI For Dummies Shiv Singh, 2024-10-01 Stay ahead in the marketing game by harnessing the power of artificial intelligence Marketing with AI For Dummies is your introduction to the revolution that’s occurring in the marketing industry, thanks to artificial intelligence tools that can create text, images, audio, video, websites, and beyond. This book captures the insight of leading marketing executive Shiv Singh on how AI will change marketing, helping new and experienced marketers tackle AI marketing plans, content, creative assets, and localized campaigns. You’ll also learn to manage SEO and customer personalization with powerful new technologies. Peek at the inner workings of AI marketing tools to see how you can best leverage their capabilities Identify customers, create content, customize outreach, and personalize customer experience with AI Consider how your team, department, or organization can be retooled to thrive in an AI-enabled world Learn from valuable case studies that show how large organizations are using AI in their campaigns This easy-to-understand Dummies guide is perfect for marketers at all levels, as well as those who only wear a marketing hat occasionally. Whatever your professional background, Marketing with AI For Dummies will usher you into the future of marketing. |
| the economic potential of generative ai: Human-Machine Collaboration and Emotional Intelligence in Industry 5.0 Kumar, Nitendra, Pal, Surya Kant, Agarwal, Priyanka, Rosak-Szyrocka, Joanna, Jain, Vishal, 2024-07-22 In the rapidly evolving landscape of Industry 5.0, integrating emotional intelligence into the industrial framework is becoming increasingly crucial. Organizations are trying to navigate this uncharted territory and seeking guidance on understanding, implementing, and ethically managing artificial emotional intelligence (AEI). However, the absence of a comprehensive resource addressing these complexities has left a significant void in academic scholarship and industrial practice. Human-Machine Collaboration and Emotional Intelligence in Industry 5.0 offers a holistic exploration of emotion recognition, affective computing, and human-robot interaction. It equips readers with the knowledge and tools to successfully integrate AEI into Industry 5.0, ensuring a harmonious collaboration between humans and machines. This book is a go-to resource for scholars, industry professionals, and decision-makers seeking to leverage emotional intelligence in the Fifth Industrial Revolution by addressing practical implementations, ethical considerations, and real-world impacts. |
| the economic potential of generative ai: The Singularity Is Nearer Ray Kurzweil, 2024-06-25 The noted inventor and futurist’s successor to his landmark book The Singularity Is Near explores how technology will transform the human race in the decades to come Since it was first published in 2005, Ray Kurzweil’s The Singularity Is Near and its vision of an exponential future have spawned a worldwide movement. Kurzweil's predictions about technological advancements have largely come true, with concepts like AI, intelligent machines, and biotechnology now widely familiar to the public. In this entirely new book Ray Kurzweil brings a fresh perspective to advances toward the Singularity—assessing his 1999 prediction that AI will reach human level intelligence by 2029 and examining the exponential growth of technology—that, in the near future, will expand human intelligence a millionfold and change human life forever. Among the topics he discusses are rebuilding the world, atom by atom with devices like nanobots; radical life extension beyond the current age limit of 120; reinventing intelligence by connecting our brains to the cloud; how exponential technologies are propelling innovation forward in all industries and improving all aspects of our well-being such as declining poverty and violence; and the growth of renewable energy and 3-D printing. He also considers the potential perils of biotechnology, nanotechnology, and artificial intelligence, including such topics of current controversy as how AI will impact employment and the safety of autonomous cars, and After Life technology, which aims to virtually revive deceased individuals through a combination of their data and DNA. The culmination of six decades of research on artificial intelligence, The Singularity Is Nearer is Ray Kurzweil’s crowning contribution to the story of this science and the revolution that is to come. |
| the economic potential of generative ai: AI-generated Content Feng Zhao, Duoqian Miao, 2023-12-03 This book constitutes the revised selected papers of the First International Conference, AIGC 2023, held in Shanghai, China, during August 25–26, 2023 The 30 full papers included in this volume were carefully reviewed and selected from 62 submissions. The volume focuses on the remarkable strides that have been made in the realm of artificial intelligence and its transformative impact on content creation. As delving into the content of the proceedings, the readers will encounter cutting-edge research findings, innovative applications, and thought-provoking insights that underscore the transformative potential of AI-generated content. |
| the economic potential of generative ai: Air Travel Partnerships Nawal K. Taneja, 2024-12-02 While change in the aviation sector is hardly a new phenomenon, going forward the rate of change will accelerate due to the emergence, convergence, and intersection of powerful internal and external forces. To deal with the accelerating change in the marketplace, stakeholders in the travel ecosystem need to deepen collaboration that is productive to (1) building adaptable, resilient, and lean businesses, (2) achieving growth and innovation, (3) elevating traveler experience to a much higher level, and, at the same time, (4) reducing the impact on the environment. Undoubtedly, while some innovations implemented by different aviation business sectors—to become more adaptable, more resilient, and leaner as well as to improve customer experience—have been adding some value, the innovations being introduced have been transactional, fragmented, and incremental. What is needed is a step change in proactive collaboration among different stakeholders in the air travel ecosystem at the holistic level, to cocreate value for travelers in terms of experience (relating to simplicity, convenience, and speed) and for businesses to adapt in order to reduce costs and increase profit margins. This book focuses on four types of organizations within the air travel sector: airlines, airports, aircraft manufacturers, and travel intermediaries. It provides a framework, tools, and insights to enhance collaborations by design in an age of increasing uncertainty. Air Travel Partnerships is essential reading for all executives and senior managers within airlines, airports, and air transport supporting industries. |
| the economic potential of generative ai: The Conscious Code Prof. Rocky Scopelliti, 2023-12-08 In an age where Artificial Intelligence (AI) evolves at a breakneck pace, the boundaries of machine capabilities are constantly being redefined. Propelled by advancements in deep learning and related technologies, AI is inching ever closer to mimicking human intellect. But can it achieve consciousness? And if so, at what cost to humanity? This book delves deep into the multi-faceted debate surrounding artificially conscious AI. It untangles ethical quandaries, philosophical dilemmas, technological challenges, political considerations, and the regulatory landscape. By drawing connections between AI research, neuroscience, and cognitive science, the narrative provides a comprehensive understanding of what consciousness might mean in the context of AI. As over a thousand AI luminaries globally sound the alarm, urging a pause on certain AI developments, the book underscores the urgency of its message. Recent incidents have spotlighted AI systems with capabilities so advanced that even their creators grapple to fully grasp or control them. It’s imperative, now more than ever, to critically assess the implications of AI consciousness, weighing its potential risks against its benefits. This book offers both a timely warning and a call to informed action. |
| the economic potential of generative ai: Securing AI Model Weights Sella Nevo, Dan Lahav, Ajay Karpur, Yogev Bar-On, Henry-Alexander Bradley, Jeff Alstott, 2024-05-30 As frontier artificial intelligence (AI) models—that is, models that match or exceed the capabilities of the most advanced models at the time of their development—become more capable, protecting them from theft and misuse will become more important. The authors of this report explore what it would take to protect model weights—the learnable parameters that encode the core intelligence of an AI—from theft by a variety of potential attackers. |
| the economic potential of generative ai: Finance & Development, December 2023 International Monetary Fund. Communications Department, 2023-11-30 Generative AI has introduced tantalizing new possibilities. Yet the initial excitement surrounding AI has given way to genuine concerns. This issue is an early attempt to understand AI’s implications for growth, jobs, inequality, and finance. |
| the economic potential of generative ai: Generative AI in Teaching and Learning Hai-Jew, Shalin, 2023-12-05 Generative AI in Teaching and Learning delves into the revolutionary field of generative artificial intelligence and its impact on education. This comprehensive guide explores the multifaceted applications of generative AI in both formal and informal learning environments, shedding light on the ethical considerations and immense opportunities that arise from its implementation. From the early approaches of utilizing generative AI in teaching to its integration into various facets of learning, this book offers a profound analysis of its potential. Teachers, researchers, instructional designers, developers, data analysts, programmers, and learners alike will find valuable insights into harnessing the power of generative AI for educational purposes. |
| the economic potential of generative ai: Populism, Artificial Intelligence and Law David Grant, 2024-07-12 Political systems across much of the West are now subject to populist disruption, which often takes an anti-Constitutional form. This interdisciplinary book argues that the current analysis of anti-Constitutional populism, while often astute, is focused far too narrowly. It is held here that due to an obscured complex of dynamics that has shaped the history of the West since its inception and which remains active today, we do not understand the present. This complex not only explains the current disruptions across the fields of contemporary religion, politics, economics and emerging artificial intelligence but also how these disruptions derive each from originary sources. This work thereby explains not only the manner in which this complex has functioned across historical time but also why it is that its inherent, unresolvable flaws have triggered the shifts between these key fields as well as the intractability of these present disruptions. It is this flawed complex of factors that has led to current conflicts about abortion reform, political populism, the failure of neoliberalism and the imminent quantum shift in generative artificial intelligence. It is argued that in this, law is heavily implicated, especially at the constitutional level. Presenting a forensic examination of the root causes of all these disruptions, the study provides a toolbox of ideas with which to confront these challenges. This is a book of originality and significance, which will make fascinating reading for academics and researchers working in the areas of Socio-legal Studies, Legal Philosophy, Political Science, Theology, AI and Neuroscience. |
| the economic potential of generative ai: The AI Agent Mandate Marco Buchbinder, 2024-09-10 The Future of Work In an era marked by quiet quitting, burnout, and stagnant productivity, AI presents unprecedented opportunities for workplace transformation. Envision an organization where employees are inspired by groundbreaking work, leading to exceptional satisfaction and retention rates. Here, AI agents seamlessly collaborate with knowledge workers, efficiently handling operational tasks and optimizing productivity. This synergy between humans and AI creates a powerful partnership, resulting in sustained competitive advantage, record-breaking profits, and maximized shareholder value. Tech visionary Marco Buchbinder emphasizes the urgent need to integrate AI agents into thriving organizations at all levels, from the C-suite to HR, sales, and administration. Through data-driven research and compelling case studies, he demonstrates that AI is here not to replace human workers but to amplify our potential for innovative, fulfilling work. The collaboration between AI and knowledge workers is now imperative, determining whether organizations merely survive or truly thrive in this new era. |
| the economic potential of generative ai: "Holistic Leadership Development Habtamu Umer, 2024-07-12 Holistic Leadership Development: A Biblical Framework for a Transformative Leadership-Followership Process by Habtamu Kedir Umer is a profound exploration into the heart of authentic Christian leadership. Rooted in biblical principles and enriched by the author's extensive leadership experience, the book introduces the transformative 7C Model—calling, commission, character, competencies, context, commitment, and completion. Each chapter intricately weaves scriptural insights with practical applications, making it an invaluable resource for personal growth and group discussions. This work empowers leaders to fulfill their divine calling, inspires and develops others, and ensures a legacy of impactful, godly leadership. |
| the economic potential of generative ai: Learning Factories of the Future Sebastian Thiede, |
| the economic potential of generative ai: The Humachine Nada R. Sanders, John D. Wood, 2024-03-11 Updated for a post-Covid world, the second edition of this groundbreaking book explains why becoming a Humachine enterprise is the only way forward for a company to maintain a competitive advantage in the age of artificial intelligence (AI). The first edition of The Humachine offered a foundation for a new form of enterprise, integrating AI technology and human resources to optimize the unique advantages possessed by each. Now, in the face of the ‘Great Resignation’ and ‘botsourcing’—where an activity previously done by humans is replaced by technology—thought leaders Sanders and Wood present a more positive and promising scenario, where an enterprise recognizes human resources as an asset class that possesses skills that cannot be replaced by automation. Enlightened business leaders will look to create synergy between technology and people, enabling the organization to maximize its capabilities by elevating the basis of decision making with closer-to-perfect information and rationality. This book provides a roadmap for how to do this and achieve collective intelligence at the enterprise level: superintelligence. More specifically, it answers these questions, and more. Why must an enterprise achieve superintelligence as a competitive advantage in the age of AI? How can any organization achieve superintelligence by following the 4-I model? What is the step-by-step process an enterprise should follow in becoming a Humachine? What strategies can be used by enterprise leaders to ‘futureproof’ the Humachine against uncertainty? All business leaders, executives, and managers at companies wanting to use AI and technology to survive and thrive in this new age, and students of analytics and decision-making, will value this thought-provoking and practical book, rich with case studies. |
| the economic potential of generative ai: Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance El Bachir Boukherouaa, Mr. Ghiath Shabsigh, Khaled AlAjmi, Jose Deodoro, Aquiles Farias, Ebru S Iskender, Mr. Alin T Mirestean, Rangachary Ravikumar, 2021-10-22 This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight. |
| the economic potential of generative ai: Generative AI for Transformational Management Gomathi Sankar, Jeganathan, David, Arokiaraj, 2024-08-27 The business world today is changing at a breakneck pace. Traditional management practices need help keeping up with the uncertainties and complexities of the digital age. Leaders face a lot of pressure to innovate, adapt, and drive transformative change within their organizations. However, they need more than just conventional wisdom to navigate this terrain. A deep understanding of emerging technologies like artificial intelligence (AI) and their practical applications in management is essential. Generative AI for Transformational Management offers a compelling solution to these challenges. This book provides a roadmap for leveraging AI to drive organizational transformation by exploring the intersection of generative AI and visionary leadership. By examining real-world case studies and practical applications, readers can learn how AI can be integrated into leadership practices to promote innovation and proactive decision-making and effectively navigate the complexities of the digital age. |
| the economic potential of generative ai: Balancing Automation and Human Interaction in Modern Marketing Nair, Arjun J., Manohar, Sridhar, Mittal, Amit, Ahmed, Wasim, 2024-04-05 In modern marketing, a pivotal challenge has surfaced - finding the delicate balance between automation and human interaction. This challenge stems from the rapid advancement of artificial intelligence (AI) technologies, which, while promising unparalleled efficiency and innovation, also lack the personal touch inherent in traditional marketing. As AI gains prominence, marketers grapple with integrating automated processes while preserving the authenticity and emotional resonance that human engagement brings. Balancing Automation and Human Interaction in Modern Marketing positions itself as a guiding force in achieving balance amid the changing marketing landscape. Within the pages of this book lies a comprehensive exploration of contemporary marketing challenges centered on striking the right balance between automation and human interaction. The quest for optimal equilibrium threads through topics such as elevating customer experiences, scalable personalization through AI, emotional intelligence in marketing, and the critical role of human-centered design. By addressing these challenges head-on, the book provides practical advice for implementing AI in marketing but positions ethics at the forefront. It advocates for responsible AI-driven marketing, fostering trust, and ensuring that the human touch remains a cornerstone of brand-consumer relationships. |
| the economic potential of generative ai: Impact of New Technology on Next-Generation Leadership Agnihotri, Alka, Agarwal, Renu, Maurya, Alka, Sinha, Manasi, Balusamy, Balamurugan, 2024-06-03 The rapid advancement of technology is disrupting traditional leadership paradigms, challenging leaders to adapt to new ways of thinking and operating. Emerging technologies such as artificial intelligence, robotics, and the Internet of Things are revolutionizing industries, creating a pressing need for leaders who can navigate this digital landscape effectively. However, many leaders need to gain the knowledge and skills to harness these technologies to their full potential, leading to missed opportunities and ineffective leadership practices. Impact of New Technology on Next-Generation Leadership offers a comprehensive solution to this pressing challenge. This book provides a deep dive into how emerging technologies reshape leadership roles and responsibilities, offering practical insights and strategies for leaders to thrive in this new era. This book is essential reading for graduates, post-graduates, and professionals in management and related fields, as well as academics and researchers seeking to stay ahead in the ever-evolving leadership landscape. |
| the economic potential of generative ai: Research Handbook on Meaningful Human Control of Artificial Intelligence Systems Giulio Mecacci, Daniele Amoroso, Luciano Cavalcante Siebert, David Abbink, Jeroen van den Hoven, Filippo Santoni de Sio, 2024-07-05 This prescient Research Handbook analyses the ethical development of Artificial Intelligence systems through the prism of meaningful human control. It encapsulates a multitude of disciplinary lenses including technical, philosophical and legal, making a crucial contribution to the ongoing discourse about control and responsibility in the field of AI. |
| the economic potential of generative ai: Smart Services Summit Shaun West, |
| the economic potential of generative ai: Fusion Strategy Vijay Govindarajan, Venkat Venkatraman, 2024-03-12 Two world-renowned experts on innovation and digital strategy explore how real-time data and AI will radically transform physical products—and the companies that make them. Tech giants like Facebook, Amazon, and Google can collect real-time data from billions of users. For companies that design and manufacture physical products, that type of fluid, data-rich information used to be a pipe dream. Now, with the rise of cheap and powerful sensors, supercomputing, and artificial intelligence, things are changing—fast. In Fusion Strategy, world-renowned innovation guru Vijay Govindarajan and digital strategy expert Venkat Venkataraman offer a first-of-its-kind playbook that will help industrial companies combine what they do best—create physical products—with what digitals do best—use algorithms and AI to parse expansive, interconnected datasets—to make strategic connections that would otherwise be impossible. The laws of competitive advantage are changing, rewarding those who have the most robust, data-driven insights rather than the most valuable assets. To compete in the new digital age, companies need to use real-time data to turbocharge their products, strategies, and customer relationships. Those that don't risk falling on the wrong side of the next great digital divide. Fusion Strategy is the way forward. |
| the economic potential of generative ai: The Unmanned Systems and Artificial Intelligence Revolution Dr. Terence M. Dorn, 2024-06-27 This book completes my unmanned systems trilogy and provides an update on the capabilities and threat potential of Unmanned Systems since my previous two books, entitled Unmanned Systems: Savior or Threat and The Importance and Vulnerabilities of U.S. Critical Infrastructure to Unmanned Systems and Cyber. The U.S. Congress and military services claim humans will control artificial intelligence (AI)-enhanced autonomous weapon systems, yet they are severely mistaken. The age of autonomous warfare has already arrived, and its incorporation of AI has begun. Our strategic competitors know that AI will digest volumes of information and make decisions far faster than human beings. They have already been unleashed without a human in the loop to authorize engagements against human beings. Our world is embroiled in a technological revolution with unmanned systems and the meteoric rise of more responsive and innovative AI algorithms. These two entities are not in their infancy, for they have emerged and grown immensely in capability, potential, and threat. There is a fierce, modern-day race among countries to conduct research and development to get improved unmanned systems and AI out to military forces, governments, companies, and the general populace. By combining armed and autonomous unmanned systems with AI, we are leap-frogging humanity past science fiction movies towards real-world militarized, AI-enhanced, autonomous unmanned systems and, quite possibly, Skynet. |
The economic potential of generative AI - Three Oaks Advisory
Our analysis of 16 business functions identified just four—customer operations, marketing and sales, software engineering, and research and development—that could account for …
The economic potential of generative AI - McKinsey & Company
14 Jun 2023 · two overlapping lenses in this report to understand the potential for generative AI to create value for companies and alter the workforce. The following sections share our initial …
The transformative power of generative AI - J.P. Morgan
Generative AI will have broad implications for the economy, but its most significant may be accelerating labor productivity after many years of near stagnation.
Assessing the economic impact of generative AI - State Street …
In this paper, we examine whether generative AI can indeed herald a new era of economic and technological evolution or fade in similar ways to several previous technological disruptions.
GENERATIVE ARTIFICIAL INTELLIGENCE: THE …
The recent success of generative artificial intelligence (GenAI) tools capable of generating human-like content has shaken digital markets and started a new technological race. GenAI is …
The economic potential of Generative AI in Norway - McKinsey
Generative AI (GenAI) is experiencing significant momentum globally and is expected to gain traction in Norway with value creation potential of 95-159 bn NOK by 2045 across Norwegian …
Unlocking the potential of generative AI: Three key questions for ...
ince generative AI (gen AI) tools rst captured public attention worldwide. But already the economic value of gen AI is estimated to reach trillions of dollars annually— e. en as its risks begin to …
Generative AI for Economic Research: Use Cases and
Generative artificial intelligence (AI) has the potential to revolutionize research. I analyze how large language models (LLMs) such as ChatGPT can assist economists by describing dozens …
the-economic-potential-of-generative-ai- - U.S. Chamber of …
12 Dec 2023 · AI will increasingly affect our economy over the next 20 years. Generative AI alone is poised to have a 2.6 trillion to 4.4 trillion1 impact annually on productivity, adding trillions of …
GENERATIVE AI: EUROPE’S QUEST FOR REGULATION AND …
The outlook of Generative AI in Europe presents a landscape marked by transformative potential, regulatory challenges, and the quest for industry leadership. As Europe navigates the evolving …
What’s the future of generative AI? An early view in 15 charts
¹Previous assessment of work automation before the rise of generative AI. Includes data from 47 countries, representing about 80% of employment across the world. Source: McKinsey Global …
Potential and Market Trends Insights into Generative AI's Economic
Generative AI could contribute to a 7% rise in global GDP and a 1.5% increase in productivity growth over a decade." This whitepaper explores how Generative AI differs from traditional …
Industrial Use of Generative AI: Opportunities and Risks
1 Jan 2024 · The potential industry applications of generative AI are vast and multifaceted. From the inception of a product to its eventual disposal, this technology is redefining traditional …
AI and the future of work: Linking generative AI with social, …
AI technologies, such as their significant potential to affect the labour market. This Discussion Paper focuses on illustrating the potential of generative AI to affect blue and white-collar …
Generative Artificial Intelligence Foundations, Use Cases and …
Within a very short period, Chat-GPT has triggered discussions about the economic and social impact of AI and whether the rapid difusion of AI technologies is desirable.
The economic opportunity of AI in Denmark - IT-Branchen
Generative AI technology is developing faster than previously anticipated, and the peak economic contribution could come sooner than expected, already in around ten years.
Building an integrated AI governance model The transformative …
The transformative power and economic potential of generative AI cannot be denied. According to a recent KPMG survey of 200 business leaders in the U.S., generative AI was rated as the top …
Generative Artificial Intelligence (GAI): Foundations, use cases …
In this article we provide a brief overview of the foundations of generative AI (“GAI”) including machine learning, important players in this emerging market, possible use cases and the …
Special Feature: ASEAN+3 and the Economic Impact of …
In recent years, AI has steadily transformed from a niche technical domain to a potential agent of transformational economic change. Generative AI (Gen AI)—a branch of AI known for …
Patient-First Health with Generative AI ... - World Economic Forum
14 Nov 2023 · World Economic Forum as a contribution to a project, insight area or interaction. ... 4 To make generative AI for patients a reality, healthcare stakeholders 12 must take these four steps ... Unlocking Impact on High-Potential Use Cases. While generative artificial intelligence (AI) is not a healthcare panacea, it does offer stakeholders ...
Generative AI and Jobs: Policies to Manage the Transition
the productivity benefits that generative AI has to offer. As the potential share of global employment that could be “augmented” by GenAI is much greater, varying between 10-13 per cent across all country income groups, whether its effects on job quality are positive or ... Economic Perspectives, 29(3), 3–30.
Generative AI for Economic Research: Use Cases and Implications …
Generative artificial intelligence (AI) has the potential to revolutionize research. I analyze how large language models (LLMs) such as ChatGPT can assist economists ... generative AI for economic research, and online resources compiled by the author to help readers get started using generative AI. 1282 Journal of Economic Literature, Vol. LXI ...
Technology’s generational moment with generative AI: A CIO and …
1 “The economic potential of generative AI: The next productivity frontier,” McKinsey, June 14, 2023. 2 Technology’s generational moment with generative AI: A CIO and CTO guide ... the potential impact of generative AI on all areas of tech, but it’s important to take action quickly to build experience and expertise. There are three
Australia’s Generative AI opportunity - Tech Council
Generative AI creates novel content in response to user prompts and is becoming more powerful and accessible than ever before Generative AI (GAI), the latest evolution in artificial intelligence, carries the potential for significant economic advancement. While the full economic impact will take years to realise,
Generative AI Governance: Shaping a Collective Global Future
5 Apr 2023 · Generative AI promises economic growth and social benefits but also poses challenges. The rapid onset of generative artificial intelligence ... potential harm AI systems could cause Lays out detailed and specific rules, standards and/or requirements for …
Generative Artificial Intelligence Foundations, Use Cases and Economic …
Generative AI – What sets it apart? Generative AI is a relatively new field of AI that has gained considerable public attention, especially since the release of ChatGPT in November 2022, which is easy to use and demonstrates the power of generative pretrained trans-former systems (Cao et al., 2023). GAI is a category of AI
Economy Generative Building the - scsp.ai
The Economic Potential of Generative AI: The Next Productivity Frontier, McKinsey & Company (2023). Germany’s GDP in 2022 was $4.07 trillion. See GDP (current US$) - Germany, The World Bank (last accessed 2023). 13 Goldman Sachs estimates that GenAI could drive a $7 trillion increase in annual global GDP over
The economic potential of generative AI - AI Unplugged
The economic potential of generative AI: The next productivity frontier 5. Glossary Application programming interface (API) is a way to programmatically access (usually external) models, data sets, or other pieces of software. Artificial intelligence (AI) is the ability of software to perform tasks that traditionally require
Transforming Accounting with Generative AI Potential …
27 Jun 2024 · Transforming Accounting with Generative AI Potential Opportunities and Key Challenges Liu Yang1 1. School of Marxism, Wuhan University, Wuhan, Hubei 430072 ... Asia Pacific Economic and Management Review Vol. 1 No. 3 (2024) 2 of 9 Introduction With the rise of generative AI models, industries worldwide are experiencing unprecedented ...
Transforming Retail & Consumer Brands: Generative AI Cases and Potential
To tap into the potential of generative AI and overcome obstacles, retail and consumer brands should invest in Generative AI capabilities, cultivate collaborations, and explore versatile applications. ... automated by Generative AI by 2026 $660B Economic potential that can be unlocked by Retail & Consumer brands through Generative AI Eliza ...
the-economic-potential-of-generative-ai- - C TEC American …
AI will increasingly affect our economy over the next 20 years. Generative AI alone is poised to have a 2.6 trillion to 4.4 trillion1 impact annually on productivity, adding trillions of dollars in value to the global economy. At the same time, AI will lead to advances in productivity, health care, consumer, and government benefits.
Artificial intelligence, data and competition - Background Note
6 May 2024 · 2.1.1. Generative AI 10 2.2. Potential economic impact of generative AI 12 2.3. Generative AI lifecycle and value chain 14 2.3.1. Generative AI lifecycle and different levels of the value chain 14 2.4. Foundation Models 16 2.4.1. Data requirements 17 2.4.2. Computing power 18 2.4.3. Other factors required to develop foundation models 19 2.5.
Catalyzing economic growth through capital investment in GenAI
AI adoption, particularly in determining the nature and extent of capital investment required for laying a robust AI foundation. Gregory Daco EY-Parthenon Chief Economist New York, NY Economic impact of AI: This EY-Parthenon macroeconomic article series provides insights on the economic potential of GenAI and actionable considerations. Discover ...
Artificial intelligence in developing countries: The impact of ...
In summary, generative AI has the potential to ... and economic diversity. Generative AI offers benefits in art, architectural design, and serving underserved markets by generat-
Generative AI’s potential to accelerate India’s digital …
Generative AI’s potential to accelerate India’s digital transformation. 2 The Adea of india Chapter 2 Rethinking the Enterprise Agenda 20 12 ... Recognizing the ability of Gen AI to serve as an engine of economic growth, governments all over the world are looking to actively promote and regulate AI. Strategies differ across countries and ...
The state of AI in 2023: Generative AI’s breakout year
As organizations rapidly deploy generative AI tools, survey respondents expect significant effects on their industries and workforces. The state of AI in 2023: Generative AI’s ... 2“The economic potential of generative AI: The next productivity frontier,” McKinsey, June 14, 2023. 4 The state of AI in 2023: Generative AI’s breakout year ...
The economic potential of generative AI
The economic potential of generative AI: The next productivity frontier 5. Glossary Application programming interface (API) is a way to programmatically access (usually external) models, data sets, or other pieces of software. Artificial intelligence (AI) is the ability of software to perform tasks that traditionally require
Economic impacts of artificial intelligence - European Parliament
Economic potential of AI The majority of studiesemphasise that AI will have a significant economic impact. Research launched by consulting company . Accenture. covering 12 developed economies, which together generate more than 0.5 % of the world's economic outputforecasts, that by 2035, AI could double annual global economic growth rates.
Digital infrastructure investment is crucial if generative AI is to ...
7 Mar 2024 · Generative AI is already showing up in topline growth Some of the largest US technology companies expect to profit significantly from generative AI. To deploy generative AI on a worldwide scale, we have seen investments in digital infrastructure from Amazon, Alphabet, Meta, and Microsoft increase sharply over the past few years. Digital
HOW CAN AI POLICY SUPPORT ECONOMIC GROWTH? - Frontier …
4 Interdependencies in the generative AI value chain 43 4.1 Compute dependencies 44 4.2 Foundation model dependencies 46 5 Potential barriers to the growth of generative AI in the UK 51 5.1 Reasons why there might be a need for government intervention 51 5.1.1 Positive externalities 52 5.1.2 Capital market imperfections 53
The economic potential of generative AI
The economic potential of generative AI: The next productivity frontier 5. Glossary Application programming interface (API) is a way to programmatically access (usually external) models, data sets, or other pieces of software. Artificial intelligence (AI) is the ability of software to perform tasks that traditionally require
The age of Generative AI: Unveiling the next frontier of digital
Source: McKinsey report, The economic potential of generative AI: The next productivity frontier Generative AI productivity impact by sector (Total, $ billion) High Tech 240-460 Retail 240-390 Banking 200-340 Travel, Transport & Logistics 180-300 Consumer Packaged Goods 160-270 Advanced Manu-facturing 170-290 Health-care 150-260 Administra
Generative Artificial Intelligence (GAI) foundations, use cases and ...
demonstrates the potential of generative AI (GAI) as a relatively new segment within AI. It is widely expected that GAI will shape the future of many industries and society in the coming years. This article provides a brief overview of the foundations of generative AI (“GAI”) including machine
The economic potential of generative AI - Concorso EconoMia
The economic potential of generative AI: The next productivity frontier 5. Glossary Application programming interface (API) is a way to programmatically access (usually external) models, data sets, or other pieces of software. Artificial intelligence (AI) is the ability of software to perform tasks that traditionally require
A Third Transformation? Generative AI and Scholarly Publishing
30 Oct 2024 · generative AI. At least one mentioned the possibility that generative AI could help publishing organizations more efficiently identify reviewers. 7. Incorporating generative AI into peer review would presumably accelerate the flow of scholarly communication, while reducing friction points that burden authors, reviewers, and editorial staff alike.
The Economic Impact of Generative AI in the US - Cognizant
capability of Generative AI (2023) and its potential capability in 10 years’ time (2032). To this end, we defined a set of five distinct categories each reflecting a different potential exposure to Generative AI. Fig. 3. Generating exposure buckets to classify tasks according to …
gen erat Generative Al ive ai - Government.nl
economic, institutional and societal factors. The government therefore stresses the importance of continuing to monitor and analyse the developments and impact of generative AI. ... ine the potential advantages of generative AI in addressing societal issues, such as the energy transition. The government
Canada’s Generative AI Opportunity - microsoft.com
Responsible adoption is key to unlocking the potential economic benefits of Gen AI 4. To expand responsible adoption, key “enablers” must be in place; this requires action from industry and government ... Canada’s Generative AI Opportunity Generative AI (Gen AI) could play a key role in addressing Canada’s productivity challenge – by ...
The economic potential of generative AI
The economic potential of generative AI: The next productivity frontier 5. Glossary. Application programming interface (API) is a way to programmatically access (usually . external) models, data sets, or other pieces of software. Artificial intelligence (AI)
Master thesis Unlocking the Economic Potential of Generative AI ...
„Unlocking the Economic Potential of Generative AI Technologies: Techno-Economic Evaluation for a Successful Adoption in Business” Applications based on generative AI (GAI) technologies such as ChatGPT or DALL-E are predicted to increase the worldwide productivity up to 2.6 - 4.4 trillion USD p.a., out of which 75% are expected
The state of AI in 2023: Generative AI’s breakout year
As organizations rapidly deploy generative AI tools, survey respondents expect significant effects on their industries and workforces. The state of AI in 2023: Generative AI’s ... 2“The economic potential of generative AI: The next productivity frontier,” McKinsey, June 14, 2023. 4 The state of AI in 2023: Generative AI’s breakout year ...
Australia’s Generative AI opportunity - news.microsoft.com
Generative AI creates novel content in response to user prompts and is becoming more powerful and accessible than ever before Generative AI (GAI), the latest evolution in artificial intelligence, carries the potential for significant economic advancement. While the full …
Automating Economic Modeling: The Potential of Generative AI
•The reviewers agreed in their evaluation of the accuracy of the AI-generated and manually adapted reports. •Accuracy was 94.3% for the AI-generated report and 97.1% for the manually adapted report. •There were 2 incorrect edits in the AI-generated report. This included a rounding error, and an incorrect description of a scenario analysis.
Economic opportunity of Generative AI in New Zealand
19 Aug 2024 · 8 02: THE ECONOMIC OPPORTUNITY OF GENERATIVE AI IN NEW ZEALAND Generative AI is projected to raise worker productivity by 15.5% by 2038 by freeing workers to reinvest their time into high-value tasks, a significant uplift in the context of labour productivity growth of only 0.2% over the last decade.2 Ultimately, this could translate into higher wages, …
Generative AI for Economic Research: Use Cases and Implications …
Generative AI for Economic Research: Use Cases and Implications for Economists * by Anton Korinek September 2023. This is a living paper - check back soon for updates. Abstract Generative AI, in particular large language models (LLMs) such as ChatGPT, has the potential to revolutionize research. I describe dozens of use cases along six
GENERATIVE ARTIFICIAL INTELLIGENCE: THE COMPETITIVE …
1 Generative AI attracts attention from Competition Authorities across Europe 6 2 Potential competition concerns could arise from inputs, partnerships or leveraging 11 2.1 Scarcity of key inputs may create barriers to entry in the development of foundation models 12 2.2 Partnerships between large firms and new players may stifle
Boardwalk Empire: How Generative AI is Revolutionizing Economic …
23 Oct 2024 · modellingAghion et al. [2017]. The modeling of economic variables is one important area where the effects of generative AI are seen. The economic variables that fall under the purview of Generative AI encompass a wide range of factors, ranging from microeconomic dynamics to macroeconomic indices. Generative AI models are used to simulate and
The economic potential of generative AI
The economic potential of generative AI: The next productivity frontier 5. Glossary Application programming interface (API) is a way to programmatically access (usually external) models, data sets, or other pieces of software. Artificial intelligence (AI) is the ability of software to perform tasks that traditionally require
The economic potential of generative AI
The economic potential of generative AI: The next productivity frontier 5. Glossary Application programming interface (API) is a way to programmatically access (usually external) models, data sets, or other pieces of software. Artificial intelligence (AI) is the ability of software to perform tasks that traditionally require
Generative-AI, a Learning Assistant? Factors Influencing Higher …
The potential of Generative-AI in education is particularly notable in creating personalised and unique educational materials. It can understand and adapt to individual students' learning patterns and needs, offering customised learning experiences that can significantly enhance engagement and learning outcomes (Celik et al., ...
Generative AI’s fast and furious entry into Switzerland
Generative AI’s fast and furious entry into Switzerland 5 Executive summary Generative AI is already making significant strides in Switzerland, with a large proportion of computer-based professionals using the technology feeling rather positive about its potential and satisfied with its output. In this way Generative AI is spearheading the
The state of AI in 2023: Generative AI’s breakout year
As organizations rapidly deploy generative AI tools, survey respondents expect significant effects on their industries and workforces. The state of AI in 2023: Generative AI’s ... 2“The economic potential of generative AI: The next productivity frontier,” McKinsey, June 14, 2023. 4 The state of AI in 2023: Generative AI’s breakout year ...
The Simple Macroeconomics of AI - Massachusetts Institute of …
the basis of anticipated improvements in a range of AI-related technologies, including computer vision and software building on large language models. Hence, I consider the numbers here to apply to all of arti cial intelligence and thus typically refer to \AI", unless there is a reason to emphasize generative AI.
Economic opportunity of Generative AI in New Zealand
Generative AI can help renew economic progress in New Zealand and directly address long standing structural economic challenges. Current economic conditions in New Zealand are challenging. Economic growth is sluggish at 0.6% and productivity growth is currently negative at -0.4%.1 Generative AI can address these challenges
The impact of generative artificial intelligence on socioeconomic ...
20 Economic & Social Research Institute, Dublin, Ireland. 21 Department of Humanities, University of Turin, Italy. ... Generative AI has the potential to revolutionize the information domain, impacting areas such as work, education, healthcare, law, finance, and policy making. One advantage is the
Harness generative AI to accelerate growth - d1.awsstatic.com
value of generative AI today—so you can keep pace with the market and leapfrog your competition. 5 “The economic potential of generative AI: The next productivity frontier,” McKinsey, June 2023 6 For most businesses, however, the path to achieving these benefits remains unclear.
The economic potential of generative AI - mckinsey.de
14 Jun 2023 · The economic potential of generative AI: The next productivity frontier 1. 2 The economic potential of generative AI: The next productivity frontier. 1. Generative AI’s impact on productivity could add trillions . of dollars in value to the global economy. Our latest research
Transforming Accounting with Generative AI Potential …
27 Jun 2024 · Transforming Accounting with Generative AI Potential Opportunities and Key Challenges Liu Yang1 1. School of Marxism, Wuhan University, Wuhan, Hubei 430072 ... Asia Pacific Economic and Management Review Vol. 1 No. 3 (2024) 2 of 9 Introduction With the rise of generative AI models, industries worldwide are experiencing unprecedented ...
Harnessing Generative AI for Economic Insights - arXiv.org
provides a survey of potential uses of generative AI in economic research. Our study and method may help to open more avenues for economic research with the help of AI. For example, a recent paper bySheng, Sun, Yang, and Zhang(2024) has built on our approach to investigate the reliance on generative AI by investment companies.
