“We’ll experience more technological progress in the coming decade than we did in the preceding 100 years put together, says McKinsey.
Applied Artificial Intelligence (AI)
We are still only in the early days of the development of AI. As the technology becomes more sophisticated, it will be applied to further develop tech-based tools, such as training machines to recognize patterns, then act upon what it has detected.
By 2024, McKinsey estimates AI-generated speech will be behind more than 50% of people’s interactions with computers. Companies are still searching for ways to use AI effectively though, the consultancy says: ‘While any company can get good value from AI if it’s applied effectively and in a repeatable way, less than one-quarter of respondents report significant bottom-line impact.’”