How Will Artificial Intelligence Impact the Global Economy?
Musk said that artificial intelligence could increase the global economy by 20–30%, potentially generating an additional $20–30 trillion in economic value annually.
Nvidia CEO Jensen Huang highlighted the importance of countries building artificial intelligence infrastructure at a technology event for G20 members held in North Carolina, USA. Huang noted that every country should develop AI infrastructure to support its local economy. Comparing the technology to essential services such as water and electricity, he said that artificial intelligence could become an important equalizer for countries. Huang also warned that excessive concerns about AI could cause countries to fall behind in technological development.
Speaking at the event, SpaceX CEO Elon Musk criticized the European Union’s strict regulations and emphasized the need to provide more opportunities for new companies to grow. Musk said that artificial intelligence could increase the global economy by 20–30% and generate an additional $20–30 trillion in economic value annually. He also noted that AI could significantly outperform humans in software development in the coming years.