Morgan Stanley analysts reveal that artificial intelligence (AI) technologies are making a substantial economic impact, currently estimated at $2.1 trillion, affecting a quarter of the global workforce. Over the next three years, this impact is set to surge to $4.1 trillion, encompassing approximately 44% of the labor market, as per expert projections.
The Expanding Role of Generative AI
Generative artificial intelligence is steadily extending its influence across a widening spectrum of human activities. Simultaneously, the cost of implementing these technologies is steadily declining. Morgan Stanley forecasts suggest that AI software developers will capture a market share valued at $205 billion within the next three years. If AI systems account for 20% of corporate computing workloads during that period, companies are poised to allocate $150 billion annually to them.
Reshaping Data Acquisition and Processing
These transformations are reshaping the methodologies employed by numerous corporations for data acquisition and processing. Cloud services will see increased investment, given that the infrastructure for many AI systems relies on them. Additionally, isolating such systems is a plausible approach to safeguard sensitive information. For example, Samsung Electronics is set to adopt this strategy following an incident involving employees attempting to utilize the public ChatGPT service for processing proprietary, non-public information, notes NIX Solutions.
In summary, artificial intelligence is leaving an ever-expanding footprint on the economy, with profound implications for businesses and industries worldwide.