I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First. ...
Full BioI work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First.
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Artificial Intelligence can boost revenues by 38%, employment by 10%: Accenture
If businesses invest in Artificial Intelligence (AI) and
human-machine collaboration at the same rate as top-notch companies, they could
boost revenues by 38 per cent by 2022 and raise employment levels by 10 per
cent, a new report said on Tuesday.
Collectively, this would lift profits by $4.8 trillion
globally over the same period, said the Accenture Strategy report released here
during the world Economic Forum (WEF).
"For the average S&P500 company, this equates to
$7.5 billion of revenues and a $880 million lift to profitability," the
report noted.
Seventy two percent of the 1,200 senior executives surveyed
said intelligent technology will be critical to their organisation's market
differentiation and 61 per cent noted that the share of roles requiring
collaboration with AI will rise in the next three years.
"To achieve higher rates of growth in the age of AI,
companies need to invest more in equipping their people to work with machines
in new ways," said Mark Knickrehm, Group Chief Executive, Accenture
Strategy.
More than two thirds (69 per cent) of the 14,000 workers
surveyed said it is important to develop skills to work with intelligent
machines.
Yet, a disconnect between workers' embracing AI and their
employers' efforts to prepare workers puts potential growth at risk.
While a majority (54 per cent) of business leaders say that
human-machine collaboration is important to their strategic priorities, only
three percent noted that their organisation plans to significantly increase its
investment in reskilling their workers in the next three years.
Sixty three percent of senior executives think that their
company will create net job gains in the next three years through AI.
Meanwhile, the majority of workers (62 per cent) believe AI
will have a positive impact on their work.
"Business leaders must take immediate steps to pivot their
workforce to enter an entirely new world where human ingenuity meets
intelligent technology to unlock new forms of growth," said Ellyn Shook,
Chief Leadership and Human Resources Officer, Accenture.