In a rich report, Bank of America Merrill Lynch sought to evaluate the impact that will have Robotics and artificial intelligence in the world economy over the coming 10 years.
As if the sales of robots and artificial intelligence software will represent 153 billion dollars in 2020, their impact in the economy will go far beyond. Analysts thus evoke a range of 14,000 to 33,000 billion dollars.
The cost of work could decrease by $ 9 billion!
Bank America Merrill Lynch analysts are delivered to a patient assessment on the impact that would have the robots and artificial intelligence in the economy. An assessment on each sector as well as for 200 companies. Thus, the cost reductions expected in the industry and the health sector are estimated between 8 and 9 billion and companies should realize $ 9 billion more on labor, including high costs for the implementation of automation systems based on artificial intelligence. Productivity gains could reach 30% in several industries, with the key a decrease in labor costs between 18 and 33%. While 10 percent of the industrial work are today robotic, this share will reach 45% by 2025. Even offshore will be taken at his own game. Currently, countries offering low-cost labour are able to divide by 3 the price of a full time. With Robotics, this cost is divided by 10, which makes it significantly less attractive these countries proposal for business leaders and could well make emerge reshoring strategies in developed countries.
Some figures which reflect the impact that will have these technologies advanced on the labour market.
Finance, potentially the biggest consumer of artificial intelligence
Reading the figures published by Bank America Merrill Lynch sector by sector, the world of finance is expected to be the largest user of IA, and by far. The study refers to 255 billion dollars in 2020 for the low assessment and 2,200 billion for high. A rather imprecise estimate but which explains to it only the $ 17 billion that were injected into the firms in this sector between 2009 and 2014. In comparison, the autonomous car will “only” represent 87 billion in 2030.
In its report “Creative Disruption”, released a few months earlier, the U.S. Bank points the benefit of such a transformation, whether for businesses that are the engines, as well as for investors. It also stresses that what analysts call the “technological employment” is still weak. We would like to believe them.
Translation : Bing Translator
“Thematic Investing: Robot Revolution – Global Robot & AI Primer”, Bank of America Merrill Lynch, November 3, 2015
“Creative Disruption”, Bank of America Merrill Lynch, April 30, 2015