Economy

Changing the economy

AI can also change the way value creation takes place in different industries and sectors.

The introduction of AI into business is expected to improve efficiency by automating routine tasks and increasing employee productivity. Companies will need to adapt to use the technology effectively and may even need to rethink their business models to improve their products and services or drive new innovations. The impact of AI on growth is more complex. Although AI can lead to an increase in production, which has a positive impact on GDP, it could also lead companies to focus on more efficient production without necessarily leading to GDP growth. While the right use of AI could increase living standards, it may not have a positive impact on earnings-based growth indicators such as GDP.

Ultimately, AI can be said to lead to a concentration of income and resources among those in a position to benefit from the AI revolution.