Originally aired on June 15, 2023
The use of AI in the global economy has the potential to add $4.4tn annually, with generative AI tools contributing to this forecast. Knowledge workers may take the biggest hit as AI reduces the need for multi-year degree credentials and specific field knowledge, and instead emphasizes the importance of broad conceptual understanding. While inflation and interest rate policies have long been considered effective in controlling economies, some argue that monetary policy no longer has the power to stimulate the economy and fight inflation.
Can AI add value to the global economy?
- Report suggests generative AI can add $4.4tn of value annually
- Half of all work could be automated by 2030
- Generative AI tools will challenge attainment of multi-year degree credentials
Will AI replace knowledge workers?
- AI reduces the need for specific field knowledge
- Broad conceptual understanding will be emphasized
- Knowledge workers may face difficulty in adapting