Are you ready for the AI revolution? According to a recent report from ARK Investment Management, generative AI tools are set to raise knowledge worker productivity four-fold by 2030. This means that businesses that invest in AI will be able to create more output with the same amount of resources, resulting in significant cost savings and increased profits.
One of the key drivers of this trend is the declining cost of AI training. Over the last two years, AI training costs have fallen by 70% annually, and this rate of decrease is expected to continue until 2030. This means that businesses of all sizes will be able to access and afford AI training, which will open up new opportunities for growth and innovation.
However, to truly succeed in the AI era, companies will need to have access to high-quality, domain-specific training data. This data is critical for developing accurate and effective AI models that can be deployed across a range of vertical applications.
Famed tech investor Cathie Wood, the CEO of ARK Investment Management, has stressed the importance of companies having AI expertise and “pools of proprietary data” in order to succeed in this new era. She believes that AI is going to converge with everything, blurring the lines between different sectors and enabling companies to create new, personalized experiences for customers.
The explosive demand for training data is another trend that has emerged in the AI era. ARK estimates that the cost of training an AI model with 57 times more parameters and 720 times more tokens than GPT-3 will fall from $17 billion today to just $600,000 by 2030.
In light of these developments, businesses that want to stay ahead of the curve should start exploring how they can leverage AI to increase productivity and lower costs. By investing in high-quality training data and expertise, companies can create AI models that are tailored to their specific needs and that can deliver measurable results. As AI continues to converge with every sector and industry, businesses that can harness its potential will be the ones to truly thrive.
The future is coming fast, and businesses that don’t embrace AI will be left behind. Start exploring the potential of AI today and see how it can help you take your business to the next level.
