AI to boost global economy significantly in 10 years: Expert

The impact of Artificial Intelligence (AI) on the global economy will be USD 7 trillion to USD 15 trillion over a period of ten years, with Japan and the US calling the shots, according to Sree Sreenivasan, CEO and Co-founder, Digimentors.

Sreenivasan was speaking at a session on ‘AI: Beyond the Hype and Backlash,’ organised by Technopark-based global IT solutions provider Reflections Info Systems at Technopark here on Monday.

“A large share of work will be exposed to AI-driven automation in future. While Japan and the US hold the major share of AI-driven jobs, India and China will have a lower percentage,” said Sreenivasan, who is also the former Chief Digital Officer of New York City, the Metropolitan Museum of Art, and Columbia University. 

Noting the “terrible” consequences of using social media globally, he said keeping track of technology is hard, and we have to think about AI in the same way by expecting the backlash.

According to Sreenivasan, the impact of AI will affect every industry, and lots of money will be made or lost.

Elaborating further, he said the advent of AI in all sectors will upend most careers in unexpected ways. 

Sreenivasan urged people to pay close attention and learn new skills, apart from being vigilant about its dangers. 

“AI companies won’t fix the AI problems. Team humans will prevail in the battle between humans and machines,” he said. 

He exuded confidence that more companies from Technopark should have a share of the power generated globally to resist AI's negative impact in the future. 

Deepa Sarojammal, CEO, Reflections Info Systems, and TP Sreenivasan, Former Ambassador, were also present.