AI to deliver 50% of automation improvements, unlocking $7 trillion in productivity: NetApp CEO
NetApp president and chief executive officer, George Kurian said.
“It (AI) is expected to transform and deliver 50% of the automation and efficiency improvements for large parts of the work we do. It is expected to transform the way we interact with each other. To put that in perspective, $7 trillion of annual labour productivity improvements will happen over the next decade,” Kurian, who is also a member of the board, said in his keynote address at the NetApp Insight 2024.
There has been significant progress in AI’s capability to understand and analyse data over the last year, which has come a long way from the technology’s ability to understand handwriting, followed by speech, image and object recognition. However, this has transformed multi-fold over the last few years as AI can now understand without human involvement the domains in which it operates and switch domains as well, he said.
“All of the unstructured data, which is typically 85-90% of your enterprise and consists of conversations across the teams, with employees and design blueprints that are typically locked away, documents, underwriting, and risk policies can now be structured and analysed using the tools at your disposal,” the top executive said.
Companies across the world are now at the third stage of the modern era of data collection and analysis, in which the first two stages were digitising data production and keeping a longitudinal history of that data, respectively. The third stage is about unifying the data present and analysing it so
