Artificial Intelligence: Ireland’s ticket to a thriving economy

By August 31, 2016 No Comments

Since the recession, many regions in Ireland are still toiling to regain a stable economic foothold. Tech analysts say the answer lies in artificial intelligence, which could give Ireland the boost it needs to restore jobs in the country.

According to a study by PWC, AI could add as much as €48 billion to the Irish gross domestic product by 2030. Although it’s a sizeable amount, that figure still puts Ireland behind other global economies, such as those in Asia.

Researchers clarify the increase will occur partially because of technology such as automation, which would allow members of the Irish workforce to get tasks done faster. They say AI will lead to product improvements that more closely reflect individual users, which would stimulate the economy too.

One of the ways Irish firms aim to tap into AI for economic gain is to make their systems work with others manufactured in tech hubs like Silicon Valley. A company called Netwatch is a prime example. It offers security packages capable of remote monitoring, and advertises how their technology provides “plug-in” compatibility with existing security measures made in other countries.