Goldman Sachs: "Generative AI Could Raise Global GDP by 7%"
One of the top Investment Banks int the world, Goldman Sachs, recently published the following article on AI:
"Breakthroughs in generative artificial intelligence have the potential to bring about sweeping changes to the global economy, according to Goldman Sachs Research. As tools using advances in natural language processing work their way into businesses and society, they could drive a 7% (or almost $7 trillion) increase in global GDP and lift productivity growth by 1.5 percentage points over a 10-year period.
'Despite significant uncertainty around the potential for generative AI, its ability to generate content that is indistinguishable from human-created output and to break down communication barriers between humans and machines reflects a major advancement with potentially large macroeconomic effects,' Goldman Sachs economists Joseph Briggs and Devesh Kodnani write in a report."
Read more here.