Barclays and IBM analyze how AI’s accessibility and versatility could bring a boost to productivity
11 Janeiro 2024 - 10:57AM
Business Wire
A new Barclays Impact Series report, authored
in partnership with IBM’s Institute for Business Value, explores
how breakthroughs in generative AI could possibly drive a
productivity boom similar to past periods of revolutionary
technology change
Barclays Research and IBM’s Institute for Business Value today
released a new Impact Series report, entitled “AI revolution:
productivity boom and beyond.” The report examines whether AI can
become the final accelerator to boost productivity and what this
could mean for industries and the wider economy.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240111175152/en/
Notebook with the title: AI revolution:
productivity boom and beyond
“The world’s demographic patterns are shifting in unprecedented
ways and productivity growth in advanced economies has been
disappointingly low over the past two decades, despite rapid growth
of the digital economy,” says Christian Keller, Head of Economics
Research. “Harnessing AI’s productivity gains has the power to
offset the decline in the skilled labour force in advanced
economies and allow ageing societies to achieve economic
growth.”
“AI can unlock productivity gains that will lead to significant
business innovation and societal impact,” says Ana Paula Assis,
Chair and General Manager IBM EMEA. “We are witnessing a pivotal
moment where AI has become a multi-purpose technology, with
applications that have the potential to reinvent virtually every
workflow and process, as well as transform the work of
professionals both those who are skilled and those who are low- or
no-skilled in technology.”
Barclays’ Impact Series uses data-driven analysis to explore
economic, demographic and disruptive changes affecting markets,
sectors and society at large. The key findings of today’s report
include:
- For developed economies, the implications are far-reaching. An
AI-led boom could help to offset some of the productivity effects
of shrinking working-age populations
- When it comes to the emerging world, the picture is different:
working-age populations are still expanding, but skills and
education levels can be more limited, which applies downward
pressure on GDP-per-hour-worked. If AI leads to job augmentation in
developing economies, it could create more productive workers and,
thus, better paid jobs
- The policies adopted by companies, industries, and regulators
will have a large bearing on the delivery of the promised benefits
of AI and how those benefits will be distributed
Link to full report:
https://www.cib.barclays/our-insights/AI-productivity-boom.html?cid=pressrelease_site_AIImpactSeries_
About Barclays
Barclays is a British universal bank. We are diversified by
business, by different types of customer and client, and by
geography. Our businesses include consumer banking and payments
operations around the world, as well as a top-tier, full service,
global corporate and investment bank, all of which are supported by
our service company which provides technology, operations and
functional services across the Group. For further information about
Barclays, please visit our website home.barclays.
About Barclays Corporate and Investment Bank
Barclays Corporate and Investment Bank is comprised of the
Investment Banking, International Corporate Banking, Global Markets
and Research businesses. It provides money managers, financial
institutions, governments, supranational organisations and
corporate clients with services and advice for their funding,
financing, strategic and risk management needs. For further
information about Barclays Corporate and Investment Bank, please
visit our website www.cib.barclays.
About the IBM Institute for Business Value
For two decades, the IBM Institute for Business Value has served
as the thought leadership think tank for IBM. What inspires us is
producing research-backed, technology-informed strategic insights
that help leaders make smarter business decisions. From our unique
position at the intersection of business, technology, and society,
we survey, interview, and engage with thousands of executives,
consumers, and experts each year, synthesizing their perspectives
into credible, inspiring, and actionable insights.
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version on businesswire.com: https://www.businesswire.com/news/home/20240111175152/en/
Press: Claudia Gilbert-Allen UK: +44 (0) 207 773 2064
claudia.gilbertallen@barclays.com
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