The Impact of Artificial Intelligence on the World Economy

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Michael Chui
Partner, McKinsey Global Institute at McKinsey & Company

The closing paragraph is really important: While the study shows the great positive potential for AI to enhance the global economy, there are risks, e.g., around the possibility of increasing inequality. But the simulations just show possible futures. What actually happens will be the product of our choices.

Thanks to Irving for a thoughtful reading of this paper.

Naveen Jain
Founder & CEO at Viome

I think author misses the point on who benefits the most from AI. I believe that people with great empathy and compassion but with little or no education will now be able to do the jobs with the help of AI that they couldn’t do before. For example, a compassionate truck driver will be able to become a nurse with the help of triage AI and star-track tricorder like diagnostic devices.

Nolan Paul
Partner at Yamaha Motor Ventures

It’ll be interesting to see AI’s effect on higher paying professions such as doctors and financial advisors. For example, it seems inevitable that medical diagnoses will be largely automated in the future. What should that mean for students today entering college who want to go into medicine? Where should they be specializing?

Kai-Fu Lee
Chairman & CEO at Sinovation Ventures

With enormous wealth generated by AI, we shall not underestimate the effect of job displacement due to AI will have on the world economy. As outlined in my new book “AI Superpowers”, 40-50% of our jobs will be technically and economically doable by AI and automation over the next 15 years.

Kartik Chaturvedi
Software Developer

AI is exactly what the Internet was years ago: bringing tremendous economic impact but widening a divide between those who move quickly to embrace it and those who do not adopt it.