AI Could Double Economic Growth Rate by 2035

As Saudi Arabia offers citizenship to a robot for the first time, there are signs that Artificial Intelligence technology is reaching a point of maturity and is becoming an increasingly popular choice for investors. A recent Accenture study shows that Artificial Intelligence could boost economic growth productivity in 12 economies, by 2035.

How Artificial Intelligence Boosts Growth

According to Accenture, Artificial Intelligence will change the nature of work and the way businesses are interacting with customers. The report research modeled the impact of AI in 12 developed economies.

According to the study, Artificial intelligence will yield the highest economic benefits for the United States. Implementing AI could increase its annual growth rate from 2.6 percent to 4.6 percent by 2035. This would translate to an additional USD $8.3 trillion in gross value added (GVA).

The main impact of AI in the economy would be to increase labor productivity by up to 40 percent and enable people to make more efficient use of their time.

Consumer Attitude Towards AI

XANT research has shown that AI is increasingly popular in technologies adopted by the B2C industry. However, it lags behind when it comes to its use in the workplace as a professional tool. The main challenge towards adopting AI in the workspace is around consumer trust, show polls.

When presented with a list of popular AI services, 41.5 percent of respondents could not cite a single example of AI that they trust. 

In the United States, acceptance is growing most quickly on the East and West Coasts, while at company level reports show that top performing companies are more ready to adopt AI.

AI in the Sales Industry

In the sales industry, artificial intelligence is being implemented as part of smart sales acceleration solutions that work for (and are built upon) customer relationship management (CRM) software.

Machine learning can analyze trillions of data points to answer specific and valuable sales questions that can guide sales rep behavior, such as:

  1. Which lead is most likely to close?
  2. Will this opportunity close this quarter?
  3. How much quota attainment will a sales team achieve?

The XANT platform contains the only AI engine built for sales on 10 years of data science and 6 trillion cross-company sales interaction data points.

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