Leonardo da Vinci, one of the greatest minds of the Renaissance, described simplicity as the “ultimate sophistication”.
This rule of simplicity applies to everything, including technological innovation. Simplicity might be referred to as the moment of truth for technology adoption – for both the consumer at home and the user at work. The technological revolution has the potential to innovate, develop, transform and serve the economy at an unparalleled level. The 21st century has brought about a new renaissance, an era in which intelligent technology is the platform for innovations that transcend corporate norms. There can be numerous possibilities. However, the biggest challenge lies in making these innovations easy to consume, while simultaneously providing an enriching experience.
Intelligent machines are radically restructuring every aspect of our lives. Artificial intelligence is changing the world at a rapid pace. AI is growing, more so, because of the tremendous opportunities for economic growth that it presents. A project undertaken by PwC showed that “artificial intelligence technologies could increase global GDP by $15.7 trillion, a full 14%, by 2030. That includes advances of $7 trillion in China, $3.7 trillion in North America, $1.8 trillion in Northern Europe, $1.2 trillion for Africa and Oceania, $0.9 trillion in the rest of Asia outside of China, $0.7 trillion in Southern Europe, and $0.5 trillion in Latin America. China is making rapid strides because it has set a national goal of investing $150 billion in AI and becoming the global leader in this area by 2030”.A McKinsey Global Institute study of China found that “AI-led automation can give the Chinese economy a productivity injection that would add 0.8 to 1.4 percentage points to GDP growth annually, depending on the speed of adoption.”
Most small and medium-sized firms are currently focused on catering to their client’s needs. They must follow some kind of strategy for timely delivery of services. After the advent of Artificial Intelligence (AI), these strategies have now become digitized. The basic key to success, in this case, is to get started as soon as possible, and keep learning along the way. Early starters will get an advantage. Intelligent technologies have brought about myriad opportunities for growth among professional businesses. Immediate and rapid changes will yield faster results.
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