AI hype: Investments could reach $200 billion by 2025

In early 2023, the whole world was shocked by the arrival of a new form of Artificial Intelligence (AI) with ChatGPT 3. For the first time, the general public came into contact with the robot assistant with difficult questions, problems and even creative ideas. Artists, too, panicked over the arrival of stable diffusion Models like Dall-E and Midjourney that can create artwork or realistic photos in seconds. It is clear that AI is already having a major impact on our world, and that impact is only going to increase.

The American giant bank Goldman Sachs proceeded cautiously forecast; Investments in AI could reach $200 billion by 2025, equivalent to 4% of America’s gross domestic product (GDP). According to Goldman Sachs, most investments will largely focus on investments in hardware on which the AI ​​models will be trained and run. The bank sees a lot of potential, especially in generative AI, such as ChatGPT. This sub-sector of AI has huge economic potential and could increase global labor productivity by more than 1% annually.

$4.4 trillion boost from generative AI

Global consulting firm McKinsey stated in a report that generative AI can give the economy a huge boost. According to the company, the industry could contribute $4.4 trillion to the global economy annually. This equates to around 15% to 40% of the overall expected economic impact of AI.

Many companies have already entered the AI ​​race. Microsoft announced it would pump additional billions into OpenAI, the company behind ChatGPT. Among other things, Google is reacting to this with its own generative AI called Bard and new investments in Anthropic, the company behind the AI ​​assistant Claude.

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Musk warns of uncontrolled AI

Although AI has great potential, there are also dissenting voices. Elon Musk has commented on this several times assure about possible catastrophic consequences and stressed the importance of regulation. The South African’s underlying fear is that uncontrolled AI could be life-threatening. Without clear legislation, Musk fears that AI could endanger human lives within two years.

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