Nix Solutions’ estimates: How AI will change the global business

According to PwC’s estimates, the profit from artificial intelligence on a global scale will amount to almost $16 trillion in the next ten years. In this Nix Solutions‘ article, we will tell you how the integration of technology is changing the global business and what problems prevent the implementation of AI even faster

Research results

  • Over the next ten years, global technology-based profits from the use of artificial intelligence (AI) technology are estimated at nearly $16 trillion, with North America and China expected to receive the largest, notes RBC Pro.
  • 18% of the companies surveyed have already implemented these technologies in several areas, and 42% analyze the possibilities of using AI technology.
  • In the United States in 2020, only 4% of executives plan to introduce such technology throughout the company, although a year ago their share was 20%. At the same time, 90% of the managers surveyed said that AI capabilities exceed the risks associated with it.
  • Almost half of executives expect that as a result of using AI technology they will gain advantages in their markets or in their field of activity.
  • The main areas of investment in AI technology are risk management and threats associated with fraud and cybersecurity (38%) and routine tasks automation (35%).
  • Managers underestimate probably the most important issue associated with data: labeling it for use by AI systems. Only a third of US executives cite data labeling among their company’s priorities for 2020.

Risks management

AI technologies are increasingly present in everyday business processes and solutions offered by suppliers. This means that an effective risk management system based on artificial intelligence technology is becoming critical.

Most respondents noted that their companies have corporate-wide AI management departments:

  • 50% said they explain the technology to those who build and operate the system,
  • 49% are focused on explaining technology to those affected.