#THE HISTORY OF AUTOMATION AI DRIVER#

#THE HISTORY OF AUTOMATION AI DRIVER#

Labor productivity growth, a key driver of economic growth, has slowed in many economies, dropping to an average of 0.5 percent in 2010вЂ“2014 from 2.4 percent a decade earlier in the United States and major European economies, in the aftermath of the 2008 financial crisis after a previous productivity boom had waned. Please email us at: of AI and automation technologies can do much to lift the global economy and increase global prosperity, at a time when aging and falling birth rates are acting as a drag on growth. If you would like information about this content we will be happy to work with you. We strive to provide individuals with disabilities equal access to our website.

An analysis we conducted of several hundred AI use cases found that the most advanced deep learning techniques deploying artificial neural networks could account for as much as $3.5 trillion to $5.8 trillion in annual value, or 40 percent of the value created by all analytics techniques (Exhibit 1). The latest generation of AI advances, including techniques that address classification, estimation, and clustering problems, promises significantly more value still. These technologies are already generating value in various products and services, and companies across sectors use them in an array of processes to personalize product recommendations, find anomalies in production, identify fraudulent transactions, and more.

Potential to transform businesses and contribute to economic growth Spectacular breakthroughs are making headlines, many involving beyond-human capabilities in computer vision, natural language processing, and complex games such as Go. AI has made especially large strides in recent years, as machine-learning algorithms have become more sophisticated and made use of huge increases in computing power and of the exponential growth in data available to train them. Much of this progress has been driven by improvements in systems and components, including mechanics, sensors and software. In summary: Rapid technological progressД«eyond traditional industrial automation and advanced robots, new generations of more capable autonomous systems are appearing in environments ranging from autonomous vehicles on roads to automated check-outs in grocery stores. Our research suggests that society needs these improvements to provide value for businesses, contribute to economic growth, and make once unimaginable progress on some of our most difficult societal challenges. Please email us at: Accelerating progress in AI and automation is creating opportunities for businesses, the economy, and societyДЄutomation and AI are not new, but recent technological progress is pushing the frontier of what machines can do. Key workforce transitions and challenges.

Accelerating progress in AI and automation is creating opportunities for businesses, the economy, and society.This executive briefing, which draws on the latest research from the McKinsey Global Institute, examines both the promise and the challenge of automation and AI in the workplace and outlines some of the critical issues that policy makers, companies, and individuals will need to solve for. They may have to move from declining occupations to growing and, in some cases, new occupations. Workers will need to acquire new skills and adapt to the increasingly capable machines alongside them in the workplace. While we believe there will be enough work to go around (barring extreme scenarios), society will need to grapple with significant workforce transitions and dislocation. As a result, some occupations will decline, others will grow, and many more will change. Machines will be able to carry out more of the tasks done by humans, complement the work that humans do, and even perform some tasks that go beyond what humans can do. At the same time, these technologies will transform the nature of work and the workplace itself.

The history of automation ai