Robert B. Cohen, Ph.D., Senior Fellow, Economic Strategy Institute, May 11, 2018
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1. An Initial Estimate of the Impact of AI and ML on the U.S. economy
The impact of AI and ML on the economy is becoming clear through corporate presentations about how they are introducing these technologies. First, AI and ML will alter how firms operate and manage automation within their environments, whether that means manufacturing or services. Second, AI and ML will support a substantial evolution in software, infrastructure and computing for businesses, based largely on innovations in computing such as the move to Cloud Native (where no operating system is required on computers used to work in clouds). Part of this evolution includes virtualized infrastructure as well as the emergence of orchestration tools such as Kubernetes that accelerate the pace of application development. Third, with these enhancements, businesses can make more effective use of AI and ML applications to manage machines on the factory floor as well as support data analysis. They can also better manage human resources, supply chains, procurement, and other business functions.