Possibly the biggest game changer we are likely to see in the near future is artificial intelligence. Organizations that get on-board the AI train quickly will give themselves a huge advantage as this new technological revolution gathers speed. Businesses that successfully apply artificial intelligence (AI) could increase profitability by an average of 38 percent by 2035, according to a new report from Accenture. In addition, the introduction of AI could lead to an economic boost of US$14 trillion in additional gross value added (GVA) across 16 industries in 12 economies. To capitalize on the opportunity, the report identifies seven key strategies for successfully implementing AI that focus on adopting a human-centric approach and taking bold and responsible steps to applying the technology within businesses and organizations.

Today Accenture Research and Frontier Economics published How AI Boosts Industry Profits and Innovation. The report is downloadable here (28 pp., PDF, no opt-in).The research compares the economic growth rates of 16 industries, projecting the impact of Artifical Intelligence (AI) on global economic growth through 2035. Using Gross Value Added (GVA) as a close approximation of Gross Domestic Product (GDP), the study found that the more integrated AI is into economic processes, the greater potential for economic growth. One of the reports' noteworthy findings is that AI has the potential to increase economic growth rates by a weighted average of 1.7% across all industries through 2035. Manufacturing (4.4%) and Financial Services (4.3%) are the three sectors that will see the highest annual GVA growth rates driven by AI in 2035.

Businesses that successfully apply artificial intelligence could increase profitability by an average of 38% by 2035, according to a new report from Accenture. Furthermore, the introduction of AI could lead to an economic boost of $14 trillion in additional gross value added across 16 industries in 12 economies, the report suggests. "Artificial intelligence will revolutionize how businesses compete and grow, representing an entirely new factor of production that can ignite corporate profitability," explains Paul Daugherty, chief technology and innovation officer for Accenture. The research compared the economic growth rates of 16 industries in 2035 in a baseline scenario showing current assumptions of expected growth, to an AI scenario showing expected growth with AI integrated into economic processes--finding that AI has the potential to increase economic growth rates by a weighted average of 1.7 percentage points. "To realize this significant opportunity, it's critical that businesses act now to develop strategies around AI that put people at the center, and commit to develop responsible AI systems that are aligned to moral and ethical values that will drive positive outcomes and empower people to do what they do best – imagine, create and innovate," noted Daugherty.

Today Accenture Research and Frontier Economics published How AI Boosts Industry Profits and Innovation. The report is downloadable here (28 pp., PDF, no opt-in).The research compares the economic growth rates of 16 industries, projecting the impact of Artifical Intelligence (AI) on global economic growth through 2035. Using Gross Value Added (GVA) as a close approximation of Gross Domestic Product (GDP), the study found that the more integrated AI is into economic processes, the greater potential for economic growth. One of the reports' noteworthy findings is that AI has the potential to increase economic growth rates by a weighted average of 1.7% across all industries through 2035. Manufacturing (4.4%) and Financial Services (4.3%) are the three sectors that will see the highest annual GVA growth rates driven by AI in 2035.

Today Accenture Research and Frontier Economics published How AI Boosts Industry Profits and Innovation. The report is downloadable here (28 pp., PDF, no opt-in).The research compares the economic growth rates of 16 industries, projecting the impact of Artifical Intelligence (AI) on global economic growth through 2035. Using Gross Value Added (GVA) as a close approximation of Gross Domestic Product (GDP), the study found that the more integrated AI is into economic processes, the greater potential for economic growth. One of the reports' noteworthy findings is that AI has the potential to increase economic growth rates by a weighted average of 1.7% across all industries through 2035. Manufacturing (4.4%) and Financial Services (4.3%) are the three sectors that will see the highest annual GVA growth rates driven by AI in 2035.

Accenture Report: Artificial Intelligence Has Potential to Increase Corporate Profitability in 16 Industries by an Average of 38 Percent by 2035 NEW YORK; June 21, 2017 – Businesses that successfully apply artificial intelligence (AI) could increase profitability by an average of 38 percent by 2035, according to a new report from Accenture (NYSE: ACN). The introduction of AI could lead to an economic boost of US$14 trillion in additional gross value added (GVA) across 16 industries in 12 economies. To capitalize on the opportunity, the report identifies eight key strategies for successfully implementing AI that focus on adopting a human-centric approach and taking bold and responsible steps to applying the technology within businesses and organizations. "Artificial intelligence will revolutionize how businesses compete and grow, representing an entirely new factor of production that can ignite corporate profitability," said Paul Daugherty, chief technology & innovation officer, Accenture. "To realize this significant opportunity, it's critical that businesses act now to develop strategies around AI that put people at the center, and commit to develop responsible AI systems that are aligned to moral and ethical values that will drive positive outcomes and empower people to do what they do best – imagine, create and innovate."

Artificial Intelligence could almost double the UK's economic growth rate and boost the country's labour productivity by up to 40 per cent by 2035, according to a research report from Accenture. The market report, 'Why Artificial Intelligence is the Future of Growth,' suggests AI is poised to fundamentally change the nature of work and create an entirely new level of interaction between man and machine, both in the UK, elsewhere in the EU and further afield. The net result could be a dramatically more productive economy in the UK, with the adoption of artificial intelligence technologies by the private and public sectors almost doubling the country's economic growth rate and thereby adding an extraordinary £650 billion to the UK economy by 2035. "AI is poised to transform business in ways we've not seen since the impact of computer technology in the late 20th century," explained Paul Daugherty, Chief Technology Officer at Accenture. "The combinatorial effect of AI, cloud, sophisticated analytics and other technologies is already starting to change how work is done by humans and computers, and how organisations interact with consumers in startling ways.

It could double economic growth rates in developed countries, writes Accenture's CTO. Artificial Intelligence (AI) may be the single most disruptive technology the world has seen since the Industrial Revolution. Granted, there is a lot of hype out there on AI, along with doomsday headlines and scary movies. But the reality is that it will positively and materially change how we engage with the world around us. It's going to improve not only how business is done, but the kind of work we do – and unleash new levels of creativity and ingenuity.

Enterprises around the world are increasingly investing in technologies for data innovation, including machine learning and even artificial intelligence (AI) as they look to close the gap with digital native companies such as Uber and Waze. But will these technologies really make a significant impact beyond these newer companies? New research from consulting firm Accenture says it will. A report from the company shows that these technologies are poised to exert an enormous impact on economic growth rates and workforce productivity. As IT organizations help their enterprises implement such technologies, they will also help those enterprises compete in this new era.