On one hand, with the advent of AI, people have got to experience new features, while on the other hand, the global economy also seems to be benefiting a lot due to AI. According to a presentation at the recent annual meeting of the World Economic Forum, AI could contribute $2.6 trillion to $4.4 trillion to the global economy in a year.
Of course, AI will benefit the global economy, but it cannot be ignored that how it can harm careers, people's lives and society. Robert F. Smith, founder and CEO of American private equity firm Vista Equity Partners, said in the presentation that at the very least, we have to eliminate the existing digital divide.
The Internet has expanded rapidly around the world but despite this, more than 2.5 billion people still do not have access to it. Almost one-third of the world's population cannot avail online services which are most essential in today's digital world such as finance, banking, education and healthcare etc.
It has been told in the report of Economic Times that according to a report, digital divide exists even in developed countries. About 24 million people in America still do not have high-speed internet access. With current AI, three different opportunities will arise through which value can be created.
We are already seeing the first wave as hardware vendors are benefiting from AI. Talking about the second wave, due to AI, other big companies like Google, Microsoft, Oracle will benefit from it who have the ability to provide connectivity to compute widely. According to Smith, third wave enterprise software vendors will benefit Which provide AI and GenAI solutions in addition to existing products.
As AI is evolving, companies and new start-ups are expanding their products and adding new features to make money at every stage. We must commit ourselves to ensuring that everyone in every country has access to the Internet, AI education and tools.
