According to Morgan Stanley, artificial intelligence will soon strongly impact the labor market. What Morgan considers today as affected by AI stands at $2.1 and affecting 25% of labor, will most probably increase in the coming years.
AS for the coming years, Analyst Brian Nowak estimates a $4.1 million or 44% labor will be affected by the increasing inclusion of artificial intelligence into the business sector. As a result, Generative AI is set to: 1) impact the labor markets, 2) expand the enterprise software TAM and 3) drive incremental spending for Public Cloud services.”
Software production will increase as costs decrease and public cloud services will also have to increase. This will be good news for the software companies. Stanley’s projections come as AI-related stocks for 2023 up rise. Many investors remain optimistic for this sector.