Artificial intelligence can lift global employment 10% by 2022: Accenture report

At a time when increasing automation is raising the prospects of job losses, a report by tech consulting firm Accenture has estimated that greater investments by companies in artificial intelligence (AI) and human-machine collaboration can raise global employment 10% by 2022. The report also said that if businesses across the globe invest in AI and human-machine collaboration at the same rate as top-performing companies, they could boost revenue 38% by 2022. Collectively and globally, this would lift profits $4.8 trillion (Rs 306 trillion) over the same period, the report said. For the average S&P500 company, this equates to $7.5 billion (Rs 47,800 crore) of revenue and $880 million (Rs 5,612 crore) lift to profit. The report was prepared after a survey of about 14,000 workers and 1,200 senior executives in 11 countries including India, Accenture said in a statement.