Chatbots spotlight machine learning’s trillion-dollar potential
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Chatbots spotlight machine learning's trillion-dollar potential
Gustavo Parés
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Gustavo Parés is CEO of NDS Cognitive Labs, a leader in cognitive computing and AI business solutions. A Professor at Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM), he's partnered with Microsoft, IBM and Google to deliver digital transformation and cognitive technology services.
The global industry potential of artificial intelligence is well-documented, yet the vision of this AI future is uncertain.
AI and automation trends are generating significant debate among economists and governments, particularly around employment impact and uncertain social outcomes. The mainstream attention is warranted. According to PwC, AI "could contribute up to $15.7 trillion to the global economy in 2030, more than the current output of China and India combined."
AI is at a crossroads, and its long-term outlook is still hotly debated. Despite social media giants, automotive companies and numerous other industries investing hundreds of billions of dollars in AI, many automation technologies are not yet directly generating revenue and instead are forecasted to become profitable in the coming decades. This creates additional uncertainty of AI's true market potential. The realistic potential value of AI is unknown, yet, as the technology advances, the ultimate impact could be of great consequence to virtually every economy.
There are many reasons to view AI's future from an optimistic lens, however: chatbots provide significant evidence for AI's positive impact on both business growth and employment markets. Today, chatbots are increasingly capable of mimicking human