The AI Gold Rush: Why Generative AI is the Next Big Investment Opportunity?
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Influential consulting firm McKinsey has rolled out its vision of the key industries that will absorb major investments in the near future.
Naturally, among the key areas are AI software and services.
What’s being written?
Investment in generative AI has grown from $5bn in 2022 to $36bn in 2023?—?an increase of 720% in just one year. Not a bad growth rate, right?
By 2040, the expected economic value of AI will be $15.5–22.9 trillion annually. For comparison, that’s roughly equal to current US GDP ($25 trillion). Imagine another US on the map that is built entirely on AI.
Generative AI alone would generate $6.1–7.9 trillion in economic value annually by automating the work of specialists. Three-quarters of that amount will come from four areas: customer experience, marketing and sales, software development, and R&D.
The scale of the infrastructure required is staggering: Meta alone plans to deploy 350,000 Nvidia H100 chips at a total cost of more than $9bn?—?and that’s the cost of just one company.
By the beginning of 2024, ChatGPT has already overtaken such giants as Netflix, Pinterest and Twitch in terms of web traffic, although the service is not even two years old yet.
All in all, if you want to be rich and happy, invest in AI.
In general, read the whole report, other industries are also very interesting. ?_______________