The Collaboration Advanced section of the Global 50 report by the Dubai Future Foundation explores the potential for advanced machine intelligence, particularly in the form of AI, to identify innovations and business ideas that are most likely to succeed. The section emphasises the significant opportunities that AI can provide in various sectors, including healthcare, financial services, manufacturing, entertainment, energy, and transport.
The section identifies Life with Autonomous Robots as the megatrend; Artificial Intelligence, the Future of Purpose and Work, and HumanXMachine as trends; and Communication Technologies and Systems, Consumer Goods, Services, and Retail, Cyber and Information Security, Data Science, AI, and Machine Learning, Health and Healthcare, Immersive Technologies, Insurance and Reinsurance, Manufacturing, Media and Entertainment, Travel and Tourism, Government Services, and Professional Services as sectors affected.
It states that one of the primary rewards of AI is its ability to augment products and services by increasing personalisation, appeal, and affordability over time. According to the report, the biggest gains in this regard are expected to be realised by 2030. The AI market, including software, hardware, and services, is projected to be worth $900 billion by 2026, with a compound annual growth rate of 19 percent, it explains.
Funding is crucial for driving innovation and scaling up start-ups, whether from venture capital, public funding, donations, or social impact funds. The report states that currently, there are over 1,150 unicorns globally. However, funding and entrepreneurship go through peaks depending on the overall economic conditions.
The report further mentions that this is the gap where the potential of AI to brainstorm ideas and identify the most promising innovations and business ideas comes in. Advanced machine intelligence can reduce volatility in venture funding and increase innovation and growth, leading to more stable economic conditions in the long run, it advocates.
However, as with any technological advancement, the report also raises concerns about the impact of AI on the future of work. The report notes that the value of human creativity and imagination will continue to be crucial in roles that intentionally challenge machines and counterbalance embedded AI logic, uncovering new areas for research, development, and innovation.
The Collaboration Advanced section of The Global 50 report provides a thought-provoking exploration of the potential of advanced machine intelligence, particularly AI, in identifying promising innovations and business ideas. It can therefore be concluded that, though there are significant opportunities to be gained, it is also important to consider the potential impact on the future of work and ensure that the value of human creativity and imagination is not lost in the process.
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