Generative AI Poised to Boost Innovation and Productivity, but Benefits May Not Be Evenly Spread
Tuesday 16 January 2024, 2:12PM
254 views
A new report by the World Economic Forum has highlighted the potential for increased use of generative AI to boost innovation and productivity.
The report, based on a survey of chief economists, found that 79% believe that generative AI will increase efficiency of output production in high-income economies, while 74% agreed that it would drive innovation.
There are concerns, however, that the benefits of AI will not be evenly spread, with many respondents suggesting that the technology would lead to increased divergence between higher and lower income economies.
Just 53% of respondents believed that low-income economies would see generative AI increase productivity and innovation over the next five years, compared to 94% for high-income economies.
The report also revealed doubts about the impact of AI on employment, with 47% of respondents stating that it would lead to job losses in high-income economies, and a worse outlook of 73% for low-income economies.
Read the full report: https://www.weforum.org/publications/chief-economists-outlook-january-2024/