The potential value of AI

The long-term potential of AI to change key aspects of the way we live and to support the operation of businesses, governments, and other organizations is hard to grasp. But even today, existing and proven AI applications can potentially create value for economies and societies around the world.

Indeed, AI has contributed to improvements in quality of life for all segments of society through innovations such as predictive healthcare, adaptive education, and optimized crisis response.¹ The National Health Service in the United Kingdom, for instance, set up a National COVID-19 Chest Imaging Database containing a shared library of chest X-rays, CT scans, and MRI images to support the testing and development of AI technologies to treat COVID-19 and a variety of other health conditions.² Businesses have seen increased productivity and operational efficiency through the use of autonomous robotics in manufacturing, AI-optimized supply chains, and intelligent cargo routing with autonomous vehicles, among other initiatives. For example, many logistics companies are using AI-powered sorting robots to optimize their warehouse operations. Governments can also harness the power of AI through personalized services and automated processes. Consider Singapore’s “Ask Jamie,” a virtual assistant that helps citizens and businesses navigate government services across roughly 70 government agencies through AI-powered chat and voice.³

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