Korea Lags Behind China, U.S. in AI
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By Kim Kang-han
September 06, 2018 13:28
Korea lags behind China and the U.S. in terms of readiness for artificial intelligence technology.
Korea has been ranked in the second tier in an assessment by the McKinsey Global Institute released on Wednesday of where countries stand in AI, along with 17 countries including Australia, Canada, France Japan and the U.K.
Only China and the U.S. were grouped in the first tier as “active global leaders.”
The business consultancy grouped 41 countries into four tiers based on eight criteria, including AI investment, research, innovation, and human resources. The third tier includes Italy and India, and the fourth tier Brazil and Greece.
The gap could make a hefty difference in business terms. “Leading AI countries could capture an additional 20 to 25 percent in net economic benefits, compared with today, while developing countries might capture only about five to 15 percent,” it said.
Front-runner companies that fully absorb AI tools across their enterprises over the next five to seven years could potentially double their cash flow. But non-adopters “might experience around a 20 percent decline in their cash flow from today’s levels.”
The company also predicted that AI will boost global GDP by 1.2 percent on annual average by 2030.
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