How will AI affect the economy?

How will AI affect the economy?

Global revenue associated with AI software, hardware, service and sales will likely grow at 19% per year, reaching $900 billion by 2026, compared with $318 billion in 2020. According to some estimates, AI will contribute more than $15 trillion to the global economy by 2030.

It can increase the efficiency with which things are done and vastly improve the decision-making process by analysing large amounts of data. It can also spawn the creation of new products and services, markets and industries, thereby boosting consumer demand and generating new revenue streams.