AI is here to stay, so quickly jump on the bandwagon

SINGAPORE (Dec 20): In most developed countries, the traditional levers of economic progress such as capital investment and labour are no longer able to sustain GDP growth as compared to the previous decades, according to the OCBC Global Outlook 2018.

With advancements in technology, economies are now entering a new era where artificial intelligence (AI) has the potential to overcome the physical limitations of capital and labour and open up new sources of value and growth.

Technology has improved productivity by helping workers reduce labour hours. A large part of developed economies have experienced a significant decline in average annual hour worked per worker in the past 65 years.

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