NYC Poised for $320 Billion Economic Boost from AI

New York City is expected to experience a significant economic boost in the field of artificial intelligence (AI) over the next 15 years, with a projected value of $320 billion added to its economy by 2038. The city already has a strong talent pool, boasting 40,000 AI professionals and ranking as the second-largest center for fundraising for AI companies. The report also predicts that within this time frame, AI will play a major role in automating or augmenting two-thirds of working hours for New Yorkers. It emphasizes that AI will simplify jobs rather than replace them, leveling the playing field for workers and benefiting younger individuals. The city's diverse range of industries and existing AI companies also contribute to its advantage in implementing AI solutions. To solidify its position as a major AI hub, New York must invest in research, support startups, and foster collaboration among institutions. The state of New York is also actively taking steps to establish itself as an AI hub by investing in research and creating computing labs --- Send in a voice message: https://podcasters.spotify.com/pod/show/tonyphoang/message