Embrace Artificial Intelligence on a war footing

Artificial Intelligence has the potential to transform every industry and sector in the country

Three factors have combined to bring Artificial Intelligence (AI) into widespread application across the global economy — availability of massively parallel computational resources; development of better algorithms to coordinate the activity of computers engaged in AI; and the availability of big data associated with the internet. This combination of factors has for example led to error rates of image labelling falling from 28.5 per cent to a mere 2.5 per cent since 2010. 

A PwC report estimates that AI will contribute $15.7 trillion to the world economy by 2030 — more than the combined current output of China and India.