ai and the future of growth

WHY ARTIFICIALINTELLIGENCEFUTURE OF GROWTHIS

THE

2.6 2.1 2.51.7 1.6 1.4 1.4 1.7

0.81.6 1.7

1

4.64.1 3.9 3.6 3.2 3 3 2.9 2.7 2.7 2.5

1.8

Baseline AI Steady State

AI IS A NEW FACTOR OF PRODUCTIONCAPITAL AND LABOR ALONE CANNOT DRIVE SUFFICIENT GROWTHAI can help: • Double annual

economic growth rates

12 COUNTRIES STUDIED

2Real gross value added (%, growth)Source: Accenture and Frontier Economics

• Boost labor productivity

• Shorten the timeline to growth

Copyright © 2016 Accenture All rights reserved.

Intelligent automation

Labor and capital augmentation

Innovation diffusion

Now humans can do more innovative things:

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THREE GROWTH ACCELERATORSAI ACTS AS A CAPITAL-LABOR HYBRID THAT DOES NOT DEGRADE OVER TIME

Huge value is going to come from the new goods, services and innovations AI will enable. DAVID AUTOR, PROFESSOR OF ECONOMICS, MIT


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INTELLIGENT AUTOMATIONCREATES GROWTH BEYOND TRADITIONAL AUTOMATION SOLUTIONS

AI can:

• Adapt and flex to automate complex tasks

• Work across multiple industries or roles

• Self-learn for repeatability at scale


5

LABOR AND CAPITAL AUGMENTATIONMAKES MORE EFFICIENT USE OF THE WORKFORCE AND CAPITAL ASSETS

AI can:

• Help humans focus on adding value

• Complement and enhance human ability

• Improve capital efficiency


6

INNOVATION DIFFUSIONUSE AI TO STIMULATE NEW IDEAS

AI can:

• Complement technologies from new collaborations

• Create new revenue streams from data generated

• Introduce social benefits


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FOUR IMPERATIVES TO TRANSITION TO AIBE READY—INTELLECTUALLY, TECHNOLOGICALLY, POLITICALLY, ETHICALLY, AND SOCIALLY


Prepare the next generation for AIIntegrate human intelligence with machine intelligence

Encourage AI-powered regulationCreate adaptive, self-improving regulation to keep pace with technological change

Advocate an AI code of ethicsManage the ethical and societal issues that can slow AI progress

Address redistribution effectsClearly articulate AI benefits and create strategies to address concerns

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ABOUT THE STUDYACCENTURE INSTITUTE FOR HIGH PERFORMANCE

EXPERT INTERVIEWS

EXTENSIVE SECONDARY RESEARCHinto how AI generates economic growth

12 countries

ECONOMIC MODELING

50% of the world’s

economic outputSpain Sweden United Kingdom United States

Germany Italy Japan Netherlands

Austria Belgium Finland France

that together generate


PAUL DAUGHERTYChief Technology OfficerAccenture

MARK PURDYManaging Director-Economic Research Accenture

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CONTACT US

www.accenture.com/futureofAI


http://www.accenture.com/futureofAI

https://twitter.com/mpurdyaccenture

https://www.linkedin.com/pub/mark-purdy/4/605/99a

https://twitter.com/pauldaugh

https://www.linkedin.com/in/paul-daugherty-22101414

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ABOUT ACCENTUREAccenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions—underpinned by the world’s largest delivery network—Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 375,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

ABOUT ACCENTURE INSTITUTE FOR HIGH PERFORMANCEThe Accenture Institute for High Performance develops and communicates breakthrough ideas and practical insights on management issues, economic trends and the impact of new and improving technologies. Its worldwide team of researchers collaborates with Accenture’s strategy, digital, technology and operations leadership to demonstrate, through original, rigorous research and analysis, how organizations become and remain high performers. For more information, follow @AccentureINST or visit www.accenture.com/institute.
