As society grapples with how technology is changing the way we work and live, AI has been dominating the headlines for years.

The 2018 AI Index Report has found increased interest within the topic worldwide, including in occupations that need deep learning skills. But is that the hype about AI's immediate potential exaggerated, or is it becoming more important to the economy?

The global impact of AI is going to be profound, and to some extent already is, but there's far more development ahead. The McKinsey Global Institute recently analysed data from the US Bureau of the Census and therefore the World Economic Forum and reported that AI has the potential to feature 16% (about $13 trillion) to the worldwide economy by 2030. Consistent with a recent report by the International Monetary Fund (IMF), it could also boost global gross domestic product (GDP) by 26%.

McKinsey has previously reported that within the same year, a minimum of 70% of companies were on the verge of adopting AI technologies like AI and machine learning. AI enables large amounts of knowledge to be processed and integrated into business processes. Big data in AI helps companies gain access to more information about their customers, the requirements of their customers and their business models so as to realize a plus over their competitors.

Today, the digital age has succeeded in generating huge amounts of knowledge, with the quantity of data increasing to 44 zettabytes by 2020. Before the introduction of massive data, business intelligence had become a legitimate career option.

But big data and AI are already having a big impact on the company front, and not just in data science.

According to a survey, 97% of executives confirm that their companies are now investing not only in AI, but also in big data. As algorithm-driven AI continues to spread, people are going to be happier than they are today. In 2017, around 51% of companies used AI, up from 70% in 2018.

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How The Business World Effects AI - AI Daily