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AI could potentially double value of global digital economy by 2025, says Huawei report

May 30, 2018

According to Huawei’s Global Connectivity Index (GCI) 2018, artificial intelligence (AI) could almost double the value of the global digital economy to $23 trillion by 2025 from $12.9 trillion in 2017.

However, the study also showed that scarcity of AI talent worldwide threatens this growth. The digital economy accounted for 17.1 per cent of global gross domestic product (GDP) in 2017.

According to the study, governments worldwide need to re-think education for a future workplace redefined by AI and start building a healthy, collaborative, and open AI ecosystem to attract and retain competitive AI talent.

According to the GCI study, advanced economies that saw growth from information and communications technology (ICT) development plateau are using intelligent connectivity to open new opportunities, while some developing economies are also finding ways to tap the new technology to speed up their own strategic growth plans.

Industries are embedding AI in key enabling technologies such as broadband, data centres, cloud, big data and internet of things (IoT) to turn connectivity into intelligent connectivity. The study also showed that in order to effectively deploy AI on a large scale, countries need three equally important components - computing power, labelled data and algorithms.

In 2018, the GCI broadened its research scope from 50 to 79 nations. India improved its ranking to from 64 in 2017 to 63 in 2018. The list was led by the US.

 

 

 
 

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