The Impact of Artificial Intelligence on a Global Expansion
Artificial Intelligence (AI) is the intelligence exhibited by machines, as opposed to the natural intelligence exhibited by animals, including humans. The term “Artificial Intelligence” was previously used to describe machines that mimic and demonstrate “human” cognitive abilities related to the human mind, such as “learning” and “problem-solving”. This definition has since been rejected by prominent researchers, who now describe AI in terms of rationality and rational action, which does not limit how intelligence can be formulated.
Global expansion and AI have had a fruitful partnership. AI helps companies expand globally in numerous ways:
- Easy growth through digital platforms;
- Accurate translation services;
- Improving trade negotiations;
- Supply chain management;
- Automating routine tasks;
- Increased efficiency and accuracy.
AI is likely to impact global expansion in the future much more forcefully than it does today. One reason is that adopting new technologies and incorporating them effectively takes time. As companies use AI more and understand better what AI can do for them, they will be able to make more effective use of its capabilities. As AI improves, its impact will increase as well. The McKinsey Global Institute estimates that, because the effects of AI are likely to show logistic growth, increasing along an S-shaped curve, the impact of AI on the global economy will be three times higher in 2030 than it is today.
In the future, AI is likely to impact global expansion in the following ways:
- Improving predictions of future trends;
- Increased smart manufacturing;
- Increased ability to parse evidence and make conclusions;
- Increased automation of tasks;
- More reliable autonomous vehicles;
- Increased accuracy and efficiency;
- Increased focus on business innovations;
- Cost Effectiveness.
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