AI isn’t just a new set of tools. It’s the new world. From automation to augmentation and beyond, AI is already starting to change everything.
$15.7 trillion. That’s the global economic growth that AI will provide by 2030, according to PwC research. Who will get the biggest share of this prize? Those who take the lead now.
AI is automating tasks that require human cognition, such as fraud detection and maintenance schedules for aircrafts, cars and other physical assets. It’s augmenting human decisions on everything from capital project oversight to customer retention and go-to-market strategies for new products.
Researchers and entrepreneurs around the world are striving for autonomous AI that won’t need human intervention to make even highly complex decisions. That means new business models everywhere, whether in financial services, healthcare, energy and mining, industrial products or media and entertainment.
There are risks, but we know how to manage them. Audit algorithm outputs for accuracy. Integrate cybersecurity. Protect privacy and keep algorithms bias-free. Ensure human control of sensitive processes. Adopt responsible AI that benefits society. Be a first mover so you are not left behind. Adopt responsible AI that benefits society. Protect privacy and keep algorithms bias-free.
With AI pilots and projects live all over the globe and new use cases added daily, at PwC we’re already experts in helping clients navigate the new world of AI safely and strategically.
Think that AI is hard? Turns out, you’re right, and for many business leaders, 2020 is the year of the “reality check,” when they lay the groundwork for a realistic AI-powered future. PwC’s third annual AI Predictions report shows that only 4% of executives surveyed plan to deploy AI enterprise-wide in 2020. A year ago, nearly 20% hoped to do the same.
Artificial intelligence you can trust
AI has the potential to create huge economic and societal benefits for businesses, governments and individuals worldwide. But with great potential comes great risk: are your algorithms making decisions that align with your values? Do customers trust you with their data? Will your brand be tarnished if you can’t explain how your AI systems work?
Answering these questions is a responsibility that falls to all of us: board members, CEOs, business unit heads and AI specialists alike. To learn more, explore our Responsible AI Toolkit—a suite of customizable frameworks, tools and principles—to help your organization harness the power of AI in an ethical and responsible manner. How responsible is your AI?
Extracting value by evaluating deals through a different lens
The sophistication of artificial intelligence will continue to accelerate in considerable ways – making deals involving this emerging technology both a challenge and an opportunity. Dealmakers will need to focus their attention around two key stages of a transaction: pre-deal and post-deal.
AI is ready right now to boost productivity and decision making. Use cases are multiplying, but strategy will determine the long-term winners.
AI may determine who leads and who lags in the Fourth Industrial Revolution. Benefitting from AI in the coming years requires smart policy decisions now.
The future of work is here: digital, increasingly automated and shaped by AI. Enterprises, governments, workers and even parents need to get ready—today.
Our AI expertise extends beyond our ranks. Collaborations with top universities and technology companies boost PwC’s ability to meet clients’ needs.
AI’s enormous power requires organizations to use it with care, so they—and their stakeholders—can trust AI as it transforms our world.
Where is AI going? Everywhere, and fast. Machine learning, for example, which learns from data without needing explicit rules for how to do it, is expanding its scope daily.