Imagine if artificial intelligence could improve every business, every industry by just 10%. That would be a phenomenal economic gain to the whole planet, but the truth is the capabilities of artificial intelligence suggest that it will improve our industries much more than 10%.
There are entire industries that can’t even exist without artificial intelligence. Machine translation, for instance, without AI, can only do a moderately poor job, but recent advances in it have made it comparable to a human translator. This, of course, opens up entire industries that didn’t exist before. The double promise of artificial intelligence is that it will let us do everything we’re doing now a little bit better, maybe a lot better, but that it will then, in turn, allow us to do things we never imagined machines could do before, and that’s where the giant economic gains are to be found.