After the World Wide Web became available to the public and for commercial use in 1991, it took another seven years to for the internet to reach 100 million users.
It took ChatGPT, which launched in 2022, just a few months for the generative artificial intelligence (AI) chatbot to reach 100 million monthly users, said Walid Khalid, Director of Investment Strategy at Scotia Wealth Management, putting its rapid adoption in perspective.
“Businesses and investors are betting that artificial intelligence may end up being the next transformative leap forward,” he said.
A growing number of workplaces are implementing AI platforms and an increasing number of employees are turning to the technology to help with repetitive tasks such as data analysis and email creation. As the adoption ramps up, Khalid says it could lead to faster productivity growth and higher economic output.
“I think it’s very important to adapt to this new technology and to learn how to use it,” said Khalid. “Jobs related to AI regulation and AI ethics are all coming up now, and we might see more jobs that we currently can’t even envision perhaps coming up down the road.”
