A new paradigm on established economics: multiplicative cost optimization in business operations via labor savings and cycle-time reduction with AI
Artificial intelligence is shaping a new economic paradigm that promises a path to cost optimization by multiples through task automation and higher labor productivity. McKinsey estimates generative AI could add the equivalent of \$2.6–\$4.4 trillion annually to the global economy—raising the impact of AI and analytics by 15–40%—with banking, high tech, and life sciences among the largest beneficiaries as a share of industry revenue.
Pavel Konovalov