EIU study finds strong majority of business executives expect artificial intelligence (AI) to have positive economic effects for both industries and society

July 30, 2018
Global

EIU study finds strong majority of business executives expect artificial intelligence (AI) to have positive economic effects for both industries and society

  • Over the next five years, businesses expect AI to have a positive impact on growth (90%), productivity (86%), innovation (84%) and job creation (69%) in their country and industry.
  • More than nine out of ten executives from around the world (94%) describe AI as important to solving their organisations’ strategic challenges.
  • More than one in four (27%) say their organisations have already incorporated the technology into key processes and services, while another 46% have one or more AI pilot projects under way.

Intelligent economies: AI’s transformation of industries and societies, a report from The Economist Intelligence Unit and sponsored by Microsoft, draws on a survey of more than 400 senior executives working in various industries, including financial services, healthcare and life sciences, manufacturing, retail and the public sector. Survey respondents operate in eight markets: France, Germany, Mexico, Poland, South Africa, Thailand, the UK and the US.

As AI becomes increasingly embedded in society, it will not only change the businesses that adopt it but also transform the ways in which citizens interact with businesses, governments and each other.  National and regional economies will become more effective in the ways they produce and distribute goods and services. But such transformations will also introduce new challenges such as ethical or security concerns as well as cost and execution risk.

The pace of implementation of AI in advanced and emerging economies will vary based on those countries’ access to resources, capacity for innovation and the readiness of business and citizens to embrace the technology. Nonetheless, executives  from all included countries expect to that five years from now they’ll be living in intelligent economies made up of smarter businesses, giving all organisations—including governments and non-profits—opportunities to leapfrog the competition.

Download a copy of Intelligent economies: AI’s transformation of industries and societies here.

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About The Economist Intelligence Unit

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