Today's Edition
A.SREENIVASA REDDY (ALETIHAD)
Business spending on integration of artificial intelligence (AI) into the day-to-day operations will have a cumulative economic impact of $19.9 trillion through 2030 and will drive 3.5% of global GDP in 2030, a research paper from International Data Corporation (IDC) said.
The paper titled “The Global Impact of Artificial Intelligence on the Economy and Jobs” said every new dollar spent on AI solutions and services will generate $4.60, in terms of indirect and induced effects.
“In 2024, AI entered a phase of accelerated development defined by widespread integration that's led to a surge in enterprise investments," said Lapo Fioretti, senior research analyst of IDC.
‘AI will not replace your job but someone who knows how to use AI better than you will replace you’ |
The majority of respondents to IDC's Future of Work Employees Survey expect that 15% to 48% of their work will be automated by the AI and related technologies in the next two years. Only a minority (3%) of respondents expect their jobs to be totally wiped out by the AI.
While some work will be negatively impacted by the proliferation of AI, new positions such as AI Ethics Specialists and AI Prompt Engineers will emerge as dedicated roles within global organisations, says the research paper. Positions where human, social and emotional capabilities are critical, such as nursing and roles where decision-making encompasses ethics and comprehension beyond numbers, will remain robust and relevant in the post-AI era.
"Understandably, we're all curious to know if AI will replace our jobs," said Rick Villars, group vice president Worldwide Research, IDC. “
The ability to use AI to make our jobs better and easier will be a crucial test for the future employees. “AI will not replace your job but someone who knows how to use AI better than you will replace you,” Villars said.
