Three factors have combined to bring Artificial Intelligence (AI) into widespread application across the global economy — availability of massively parallel computational resources; development of better algorithms to coordinate the activity of computers engaged in AI; and the availability of big data associated with the internet. This combination of factors has for example led to error rates of image labelling falling from 28.5 per cent to a mere 2.5 per cent since 2010.
A PwC report estimates that AI will contribute $15.7 trillion to the world economy by 2030 — more than the combined current output of China and India.
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