AI Today is the Future of Tomorrow

In the 1800’s steam engines were introduced to boost labor productivity, the introduction of robots during the 1990s as well as IT during the 2000’s also boosted labor production. Today in the 21^st century we have a new technology introduced to boost labor productivity, the introduction of Artificial Intelligence also known as AI

AI will boost GDP (Gross domestic product) by over 14% between now and 2030 according to the McKinsey report. These economic opportunities will cater to companies and workers worldwide, having tremendous economic benefits.

However, in addition to AI’s economic benefits, there are some negative consequences as well. There will most likely be a replacement of manual human driven labor with cost effective AI manufacturing labor, possible putting many workers out of jobs. With every major transformative technology positively impacting the economy there is always going to be some negative tradeoff one way or another.

https://blogs.wsj.com/cio/2018/11/16/the-impact-of-artificial-intelligence-on-the-world-economy/