AI’s Economic Impact and Everyday Uses

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For many, artificial intelligence (AI) conjures excitement; others fear it. AI has been around since the 1950s’ “AI boom.” It later slowed down in the 1980s, but by the 1990s, machine-learning algorithms and computing power were developed.

Today, there are many common AI applications. And AI is projected to significantly impact both the United States and global economies. But how is AI used in everyday life, and what is the cost?

AI’s Economic Impact

Although AI is not in its infancy, the economic impact it’s about to have is coming quickly. By 2030, AI is predicted to contribute $15.7 trillion to the global economy. Most of this impact will occur in North America and China.