The Chief Executive of Microsoft Corporation (NASDAQ:MSFT), Satya Nadella, has said there cannot be any real worldwide growth without AI (artificial intelligence). He says a major breakthrough in AI will kick start weak economic growth and its positive impact will be felt all over the world, though there are growing fears that artificial intelligence and the advancing robotics might eat up many conventional jobs of our times.

Satya Nadella also rebutted claims that artificial intelligence will lead to wealth disparity. He felt its impact will actually be the opposite. AI will be a vital growth driver. “One of the things I am grounded in is the overall world GDP (gross domestic product) growth is not stellar”, Nadella said while speaking in Switzerland. We need technological breakthrough to achieve the next level of growth, he added.

Huge Investments in Artificial Intelligence in Recent Years

Tech giants the world over are investing billions of dollars into AI. This includes Google, IBM, Yahoo, Intel, Apple and Salesforce, Samsung, Facebook, Uber, Skype, and others. Microsoft is there too, of course. There is currently a race to acquire tech start-ups that are working in the domain.

The Microsoft (NASDAQ:MSFT) Chief Executive supported this move, but issuing the warning that the tech giants should make the growth inclusive rather than just help a select few. His own company, Nadella said, was coming out with tools that will help everyone, and allow people to make the next level of technological revolution possible.

Responding to the fears of job losses, Nadella said, “We should do our very best to train people for the jobs of the future”. He complemented Germany for how the workforce was retrained and made to adapt to the modern world after reunification.

Study Finds Productivity Can Increase Threefold With Artificial Intelligence

Meanwhile, a report created by artificial intelligence developer IPsoft and Goldsmiths, University of London has found that 80 percent of the repetitive tasks currently people are doing can be automated easily by software robots of the future. So productivity can be increased when these robots using AI are able to free up human time on such jobs. They can then use their brains better.

The report does not speak of replacing humans with robots. Rather, it says that if the abilities of humans and AI are brought together, then productivity can improve by three times. But it is important to find the right balance.