At this year’s Annual Meeting of the New Champions in Dalian, the Chinese mainland, artificial intelligence (AI) took center stage as one of the most discussed topics. On the second day of the 2024 Summer Davos Forum, industry leaders and academics came together for the sub-forum titled \"AI Breaking New Ground – What's Next for Industry\" to explore AI's transformative impact on society.
Jay Lee, director of the Industrial AI Center at the University of Maryland, highlighted that manufacturing and energy are the two most fundamental and promising sectors for AI application. A panelist referenced a recent McKinsey report, which forecasts that generative AI could contribute between $2.6 trillion and $4.4 trillion in annual value to the global economy by revolutionizing manufacturing processes.
Data presented at the forum illustrated how AI is already reshaping the entire value chain within the manufacturing sector, enhancing efficiency, reducing costs, and fostering innovation. As AI continues to evolve, its integration into energy systems is set to drive significant advancements, promoting sustainability and optimizing resource management.
The discussions at Summer Davos 2024 underscore the pivotal role AI is playing in shaping the future of industries worldwide, offering new opportunities for growth and development across the G20 nations and beyond.
Reference(s):
cgtn.com
