· Labor,Labor Market,Automa

Ai in New Zealand

Artificial Intelligence is an important investment for the present and future of New Zealand's highly developed free market economy.

With only a 2.68 million labor force, New Zealand still manages to create more than $200 billion of GDP per year, ranking the country 23rd in GDP (nominal) per capita.

Two key sectors of New Zealand’s economy are service and manufacturing, which together comprise more than 80% of its labor market. Moreover, New Zealand has led the "Ease of Doing Business Rank" for 4 consecutive years. With a small labor force, a heavy reliance on service and manufacturing, and openness to foreign investment, New Zealand is a desirable environment for an Artificial Intelligence industry to develop.

Ai plays a very significant role for New Zealand's society today. According to research by Ai Forum of New Zealand, more than half of surveyed companies think of Ai as a future game changing player in New Zealand, and 20% of them have already taken advantage of Ai.

In New Zealand's finance services industry, ANZ Bank partnered with Nuance, which built Ai-driven voice biometrics that allow customers to authorize payments using their voice, to increase the safety and efficiency of ANZ customer service.

New Zealand's educational company Jaipuna built ab Ai tutor named Amy, which provides interactive lessons to high school students as well as real time feedback, to raise productivity in both teaching and learning end.

Furthermore, in skin cancer detection, private New Zealand dermatology company MoleMap partnered with IBM research, building an Ai system that is able to screen false alarms and can improve diagnostic accuracy up to 96%.

In addition to Ai’s current progress, there is still a huge potential in the New Zealand market. According to Sapere and Schiff's Analysis 2018, Ai has the potential to lead to an economic increase in New Zealand of between $22.5 billion and $53.6 billion by 2035, and it may fuel an average industry growth of 4.4% in Manufacturing, 4.5% in Financial Services, and 3.6% in Professional, Scientific and Technical Services, and 2.6% in Health Care and Social Assistance.

Because every industry is vital to New Zealand’s labor market today, Ai shows its potential to bring enormous benefits to New Zealand’s future. Ai in New Zealand for sure has a great future ahead. Still, Kiwis must provide sufficient support on Ai talents development and R&D funding to turn Ai’s potential into actual growth.

Sources: 

1.https://assets.documentcloud.org/documents/4450508/AI-Forum-Report-FINAL-Version.pdf 2.https://en.wikipedia.org/wiki/Economy_of_New_Zealand 3.http://www.bbc.com/storyworks/future/an-intelligent-future/molemap

Written by Fang(David) Du & Edited by Alexander Fleiss

All Posts
×

Almost done…

We just sent you an email. Please click the link in the email to confirm your subscription!

OK