It’s hard to open a newspaper these days without encountering an article on the arrival of artificial intelligence. Predictions about the potential of this new technology are everywhere.
Media hype aside, real evidence shows that artificial intelligence (AI) already drives a major shift in the global economy. You now use it in your day-to-day life, as you look to Netflix to recommend your next binge or ask Alexa to play music in your home. And the benefits of AI are driving the technologies into every corner of the global economy. Look, for example, at the number of times the largest U.S. companies mention artificial intelligence in their 10-K filings. (See chart below, which measures mentions of “artificial intelligence” and related worlds in 10-K filings of S&P companies, from 2011 to 2016