PwC: Artificial intelligence will contribute $16 trillion to GDP by 2030

PwC Consulting forecasts that artificial intelligence's contribution to world gross domestic product will jump from $2 trillion in 2018 to $15.7 trillion by 2030.

The first artificial intelligence (A.I.) patents were issued in the 1950s for machine learning and grew steadily to 19,000 by 2013. But the total number of A.I. patents almost tripled over the last five years to over 55,600.

This does not include another 256,456 worldwide patent publications for A.I. functional applications for biometrics, computer vision, natural language, information extraction, character recognition, scene understanding, and semantics.

The latest World Intellectual Property Organization (WIPO) reported that two United States companies lead the world in issued A.I. patents, with IBM holding 8,290 patents and Microsoft holding about 5,930 patents. But China has become the fastest growing competitor by focusing on machine learning techniques of bio-inspired approaches, which draw from observations to develop vector machines and supervised learning.

According to senior partner Frank Chen at Silicon Valley's Andreessen Horowitz, A.I. development suffered decades of booms and busts that venture capitalists referred to as "summers and winters." But the explosion in raw computer capacity in the last decade has allowed algorithms to leverage observances, to then make predictions on business, health, and legal matters.

PwC emphasizes that economic gains from A.I. could be highly dynamic, because they would ride on top of the 3-percent "baseline of long-term steady state economic growth" from "population growth, growth in the capital stock and technological change."

The current global benefit from A.I. capabilities is estimated to be about $2 trillion from labor productivity, personalization, time saved, and quality. Most A.I. in use today includes "digital assistants, chatbots and machine learning amongst others."

I’ve been reading a lot of articles about stocks that seem to have been written by someone with Severe learning disabilities.

Almost gibberish at times.

Found out they were AI written articles.

Use a product when it’s ready.

Whenever I call a company for help, it’s for something unusual. I do not call to hear “Do you want to hear your last three transactions”or “Do you want to hear about coughs and colds?”

Not one of the “chat bots” or voice systems has ever answered any of my questions. Not once in the decades these things have been running.

Even getting connected to the right department is impossible. Me: “Dr. Frank”. Robot: “Connecting you to Claims.”

When humans used to answer the phone, the accuracy of the conversation was 100%.

So, I find that I spend 4X or 5X MORE time getting done what I need to handle. The company saves money, but at MY expense of time. The analysis of contribution to GDP undoubtedly looks at the money saved by companies, not the huge explosion in wasted time by consumers.

Trying to get anything constructive done with these robots is the bane of modern existence (after Democrats, RINOs, SJWs, PC, and CW II, of course).

Amazon always guesses wrong on what movies and other items I might like. AI is nowhere near where the proponents claim it is.

I have yet to see a video game, even an all text video game like "Adventure" or "Zork" that has Sophisticated true natural linguistic interpretive A.I. behind it. Everything is thrown at graphics, physics of exploding and propelled objects and frames per second. We aren't using the computing power we have.

Just check out the reduced performance of spelcech, autocomplete and grammah checkers.

This has nothing to do with A.I., but I remember REAL Help screens in applications, instead of help screens that send you to some all purpose web page that's loading Java or Flash. F3 in WordPerfect or F1 in Lotus 1-2-3 brought up usable help that responded instantaneously if you have 640 K, an 80386 processor and 1 MB of RAM.

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.