New Study Shows that AI Will Help in Increasing US GDP to About $1 Trillion in Coming Years

According to a study conducted by Cognizant, AI could bring a lot of change in the US economy in the coming years. It is predicted that AI could bring about $1 trillion to the US economy in the coming decade. But it’s not all, because many US workers will also lose their jobs because AI will take over those. The study took help from a model to demonstrate how AI could impact low, middle and high businesses. The first model revealed that AI is quickly taking over many businesses.

2023 was a year when companies were experimenting with AI but in the coming years, all work load will be shifted to them. 13% of the companies in the US are going to adopt the AI tech for work with in the next 3 to 4 years. This will increase up to 31% in the next four to 8 years and up to 50% in a decade. After 10 years, the AI adoption will slow down a little bit but won’t completely stop. Companies will soon adapt AI in work in the next 20 years.

The researchers studied all the tasks that run the US economy like content generation, market analysis, reports and emails. They then compared all this work to generative AI’s and found out that 90% of the jobs related to the US economy will do about 50% of their tasks with the help of AI. 52% of the jobs will be affected by work done by AI one way or another. This means that about 9% of the employees related to the US economy will lose their jobs in the next 10 years.

In the next few years, the US economy is set to change with the increase in US GDP to $1 trillion, all driven by productivity under AI tools. AI will impact different types of jobs and will take over credit analysis, computer programming, data administration and graphic designing jobs. This doesn’t mean all people will lose their jobs. The employees who possess great critical thinking and knowledge skills will be highly appreciated in the upcoming era of artificial intelligence.

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by Arooj Ahmed via Digital Information World