The AI-boost: Using more artificial intelligence will boost GDP growth – The Financial Express
A PwC study in 2017 estimated the world would gain $15.7 trillion by 2030 if artificial intelligence (AI) was adopted across nations. The study said that AI would first lead to productivity enhancement, and a major portion of gains would accrue from consumer-side effects. China, it had said, could see its GDP rising by around a fourth as it was using AI more aggressively. Although the study did not estimate how much India would gain from using AI, new research by Icrier along with Nasscom and Google shows that even a marginal increase in artificial intelligence adoption may add 2.5% to GDP in the immediate term. Moreover, it highlights that if the government spends the Rs 7,000 crore it had envisaged for the national AI programme, GDP could get boosted by as much as $86 billion. The way Icrier sees it, as AI becomes what it calls a general purpose technologylike the internetits impact rises; essentially, then, the pace of Indias digitisation drive will determine how fast AI is adopted.
To understand how fast the adoption of AI can take place and its impact on total factor productivity, Icrier studied 1,553 firms that have some software investment. What it found was that there was a huge gap in the use of AI, suggesting a large untapped potential. AI-intensity was defined as the ratio of software investment to total sales, and the study found that, for instance, in the case of agriculture, while the average AI intensity is 0.001, the maximum intensity was 20 times as much. For electrical and optical equipment manufacturing, the difference between the average and the top in the industry was 145-times; it was 742 in the case of trade and in the case of services, the average intensity was 0.159, while the maximum intensity was 110.
The report, however, argues that businesses alone wont be able to push AI, the government will have to play a bigger role, by setting up a nodal AI agency to push for AI-adoption and also drive business, government and academia partnerships. Another suggestion is to initiate large-scale skill development programmes to get the workforce ready for AI-adoption. What is worrying, however, is the slow pace of digital adoption so far, though the pandemic has helped speed up things a big; both the education and health sector, for instance, are likely to see faster adoption of AI techniques. A related problem is that of cybersecurity where India needs both a national strategy and a governance structure that is more well-defined.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know markets Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
Follow this link:
The AI-boost: Using more artificial intelligence will boost GDP growth - The Financial Express
- Senate bill targets the use of artificial intelligence in Mississippi - WAPT Jackson - March 15th, 2025 [March 15th, 2025]
- will.i.am and Sean Paul on embracing artificial intelligence in music - Sky News - March 15th, 2025 [March 15th, 2025]
- As Artificial Intelligence (AI) Stocks Fall, Investors Should Consider Buying More of These 2 Powerhouses - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- FSUs Graduate School hosts workshop on artificial intelligence to explore the impact of AI on teaching and research - Florida State News - March 15th, 2025 [March 15th, 2025]
- Artificial Intelligence Optimization (AIO): The Next Frontier in SEO - hackernoon.com - March 15th, 2025 [March 15th, 2025]
- The U.S. Army, Artificial Intelligence, and Mission Command - War On The Rocks - March 15th, 2025 [March 15th, 2025]
- 2 Stock-Split Artificial Intelligence (AI) Stocks to Buy Before They Zoom Higher, According to Wall Street Analysts - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- AI in the classroom: How artificial intelligence is helping teachers - Bay News 9 - March 15th, 2025 [March 15th, 2025]
- Video: Daryl Morey Says 76ers Use Artificial Intelligence for Input on Team Decisions - Bleacher Report - March 15th, 2025 [March 15th, 2025]
- Better Artificial Intelligence Stock: AT&T vs. Verizon Communications - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- NVIDIA GTC 25: What To Expect From the Years Biggest Artificial Intelligence Event - BizTech Magazine - March 15th, 2025 [March 15th, 2025]
- 2 Stock-Split Artificial Intelligence (AI) Stocks to Buy Before They Zoom Higher, According to Wall Street Analysts - MSN - March 15th, 2025 [March 15th, 2025]
- DEI Erosion Threatens Safety. Artificial Intelligence May Help Pick Up the Slack. - Inbound Logistics - March 15th, 2025 [March 15th, 2025]
- Saint Vincent conference will examine broad impact of artificial intelligence - TribLIVE - March 15th, 2025 [March 15th, 2025]
- As Artificial Intelligence (AI) Stocks Fall, Investors Should Consider Buying More of These 2 Powerhouses - MSN - March 15th, 2025 [March 15th, 2025]
- 3 Artificial Intelligence (AI) Stocks You Can Buy and Hold for the Next Decade - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- This Artificial Intelligence (AI) Stock Has Surged 1,000% Over the Past 2 Years. Is a Split on the Horizon? - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- Move Over, Artificial Intelligence (AI) -- Businesses Are on Pace to Spend More Than $10 Trillion on This Trend Over the Next Decade - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- Here Is My Top Artificial Intelligence (AI) Stock to Buy Right Now - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- Nasdaq Sell-Off: 2 Artificial Intelligence (AI) Stocks Down 20% and 49% to Buy Hand Over Fist on the Dip - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- 1 Top Artificial Intelligence (AI) Chip Stock to Buy Hand Over Fist Before It Jumps - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- [Latest] How Artificial Intelligence is Shaping the Emc Shielding And Test Equipment Market - openPR - March 15th, 2025 [March 15th, 2025]
- Nasdaq Correction: 5 Reasons Nvidia Stock Is Still a Top Artificial Intelligence (AI) Stock to Buy Right Now - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- Artificial Intelligence (AI) Adoption Rates Appear Low, but This Technology Leader Could See a Massive Surge in Demand in the Next 10 Years. Here's... - March 15th, 2025 [March 15th, 2025]
- [Latest] The Influence of Artificial Intelligence on the Augmented Reality (Ar) Shopping Market - openPR - March 15th, 2025 [March 15th, 2025]
- Oracle Just Shared Some Amazing News for the Entire Artificial Intelligence (AI) Industry - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- 1 No-Brainer Artificial Intelligence (AI) ETF to Buy With $40 During the Nasdaq Sell-Off - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- Inside The Artificial Intelligence That Can Clone Your Mind - Forbes - March 15th, 2025 [March 15th, 2025]
- Why Tesla Could Be a Massive Winner in the Artificial Intelligence (AI) Race - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- 4 Artificial Intelligence (AI) Stocks Worth Buying in the Tech Sell-Off - The Motley Fool - March 15th, 2025 [March 15th, 2025]
- Impact of Artificial Intelligence (AI) on Media and Creative Industries - EDMO - March 1st, 2025 [March 1st, 2025]
- 1 Artificial Intelligence (AI) Stock That Could Be Bigger Than Nvidia in 5 Years - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- This Artificial Intelligence (AI) Stock Is Up 15% in 2025 Already. It Is Still a Solid Buy? - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- Can artificial intelligence be the future solution to the enormous challenges and suffering caused by Schizophrenia? - Nature.com - March 1st, 2025 [March 1st, 2025]
- Applications of Artificial Intelligence in Medical Education: A Systematic Review - Cureus - March 1st, 2025 [March 1st, 2025]
- This Artificial Intelligence (AI) Stock Is Up 15% in 2025 Already. It Is Still a Solid Buy? - AOL - March 1st, 2025 [March 1st, 2025]
- Federal Executive Forum Artificial Intelligence Strategies in Government Progress and Best Practices 2025 - Federal News Network - March 1st, 2025 [March 1st, 2025]
- Introduction to Artificial Intelligence for General Surgeons: A Narrative Review - Cureus - March 1st, 2025 [March 1st, 2025]
- How is Artificial Intelligence Affecting Health Care? - Workers Comp Forum - March 1st, 2025 [March 1st, 2025]
- 1 Spectacular Artificial Intelligence (AI) Stock to Buy With $50 Right Now - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- 20+ Advantages and Disadvantages of AI | Pros of Artificial Intelligence - Simplilearn - March 1st, 2025 [March 1st, 2025]
- Prediction: This Top Artificial Intelligence (AI) Stock Will Start Skyrocketing After March 6 - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- 1 Surprising Stock Harnessing the Power of Artificial Intelligence (AI) - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- 2 Top Artificial Intelligence (AI) Stocks to Buy On the Dip Amid Nasdaq Selloff - Yahoo Finance - March 1st, 2025 [March 1st, 2025]
- Review: Artificial intelligence is shaping the future of diabetes care - News-Medical.Net - March 1st, 2025 [March 1st, 2025]
- Prediction: This Artificial Intelligence (AI) Stock -- a 1,020% Gainer Since Its IPO -- Won't Split Its Stock in 2025. Here's Why - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- A Nobel laureate on the economics of artificial intelligence - MIT Technology Review - March 1st, 2025 [March 1st, 2025]
- Prediction: This Top Artificial Intelligence (AI) Stock Will Start Skyrocketing After March 6 - Nasdaq - March 1st, 2025 [March 1st, 2025]
- Meta Platforms Just Caused This Crucial Artificial Intelligence (AI) Stock to Plummet. Should You Buy the Dip? - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- Artificial Intelligence - AI Update, February 28, 2025: AI News and Views From the Past Week - MarketingProfs.com - March 1st, 2025 [March 1st, 2025]
- The Ultimate Artificial Intelligence (AI) ETF to Buy With $50 Right Now - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- Prediction: This Artificial Intelligence (AI) Company Will Split Its Stock in 2025 - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- Should You Forget Nvidia and Buy 2 Artificial Intelligence (AI) Stocks Instead? - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- Why Artificial Intelligence Stocks SoundHound AI, IonQ, and C3.ai Are Struggling Today - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- 2 Top Artificial Intelligence (AI) Stocks Ready for a Bull Run - The Motley Fool - March 1st, 2025 [March 1st, 2025]
- AI Cant Do This Anymore: The Dangers of Artificial Intelligence in Academia - Skidmore News - March 1st, 2025 [March 1st, 2025]
- Whats Next in Artificial Intelligence: Agents that can do more than chatbots - Pittsburgh Post-Gazette - February 9th, 2025 [February 9th, 2025]
- Geopolitics of artificial intelligence to be focus of major summit in Paris; AP explains - Yahoo - February 9th, 2025 [February 9th, 2025]
- Geopolitics of artificial intelligence to be focus of major summit in Paris; AP explains - The Associated Press - February 9th, 2025 [February 9th, 2025]
- 3 Top Artificial Intelligence Stocks to Buy in February - MSN - February 9th, 2025 [February 9th, 2025]
- Geopolitics of artificial intelligence to be focus of major summit in Paris; AP explains - Lufkin Daily News - February 9th, 2025 [February 9th, 2025]
- 2 of the Hottest Artificial Intelligence (AI) Stocks on the Planet Can Plunge Up to 94%, According to Select Wall Street Analysts - The Motley Fool - February 9th, 2025 [February 9th, 2025]
- These 2 Stocks Are Leading the Data Center Artificial Intelligence (AI) Trend, but Are They Buys Right Now? - The Motley Fool - February 9th, 2025 [February 9th, 2025]
- Book Review | Genesis: Artificial Intelligence, Hope, and the Human Spirit - LSE - February 9th, 2025 [February 9th, 2025]
- The Artificial Intelligence Action Summit In France: Maintaining The Dialogue On Global AI Regulation - Forrester - February 9th, 2025 [February 9th, 2025]
- Is prediction the next frontier for artificial intelligence? - Healthcare IT News - February 9th, 2025 [February 9th, 2025]
- The Artificial Intelligence in Medicines Market Is Set to Reach $18,119 Million | CAGR of 49.6% - openPR - February 9th, 2025 [February 9th, 2025]
- Geopolitics of artificial intelligence to be focus of major summit in Paris; AP explains - The Audubon County Advocate Journal - February 9th, 2025 [February 9th, 2025]
- Around and About with Richard McCarthy: Asking AI about itself: Will artificial intelligence ever surpass humankind? - GazetteNET - February 9th, 2025 [February 9th, 2025]
- Will the Paris artificial intelligence summit set a unified approach to AI governanceor just be another conference? - Bulletin of the Atomic... - February 9th, 2025 [February 9th, 2025]
- Apple Stock Jumps on Artificial Intelligence (AI) Driving iPhone Sales. Here's Why It's Not Getting Crushed by the DeepSeek Launch. - The Motley Fool - February 9th, 2025 [February 9th, 2025]
- Who will win the race to Artificial General Intelligence? - The Indian Express - February 9th, 2025 [February 9th, 2025]
- Prediction: This Artificial Intelligence (AI) Chip Stock Will Win Big From DeepSeek's Feat - The Motley Fool - February 9th, 2025 [February 9th, 2025]
- Prediction: 2 Artificial Intelligence (AI) Stocks That Will Be Worth More Than Nvidia 3 Years From Now - The Motley Fool - February 9th, 2025 [February 9th, 2025]
- State of Louisiana Launches Innovation Brand, Announces Creation of $50 Million Growth Fund and Artificial Intelligence Research Institute - Louisiana... - February 9th, 2025 [February 9th, 2025]
- Using smart technologies and artificial intelligence in food packaging can reduce food waste - Yahoo News Canada - February 9th, 2025 [February 9th, 2025]
- BigBear.ai Wins Department of Defense Contract to Prototype Near-Peer Adversary Geopolitical Risk Analysis for Chief Digital and Artificial... - February 9th, 2025 [February 9th, 2025]
- Should Investors Change Their Artificial Intelligence (AI) Investment Strategy After the DeepSeek Launch? - The Motley Fool - February 9th, 2025 [February 9th, 2025]
- 1 Unstoppable Artificial Intelligence (AI) Stock to Buy Before It Punches Its Ticket to the $4 Trillion Club - The Motley Fool - February 9th, 2025 [February 9th, 2025]
- Got 10 Years and $1000? These 3 Artificial Intelligence (AI) Stocks Are Set to Soar. - The Motley Fool - February 9th, 2025 [February 9th, 2025]