|
Artificial intelligence (AI) is set to disrupt several sectors of the economy. I received a preview of a report we are commissioning (and look forward to sharing soon) that states “AI will have a significant impact on Delaware businesses, though the exact timing and extent remain uncertain. However, most experts agree that AI adoption will accelerate in the coming years. Industries expected to be most affected include finance and insurance, retail trade, and health services—all of which are vital to Delaware’s economy.” The analysis continues, “Any job reductions in these sectors could have widespread economic effects across the state.”
Beyond workforce concerns, AI also presents opportunities for economic growth and innovation. Delaware businesses that embrace AI-driven technologies can enhance efficiency, improve customer experiences, and develop new revenue streams. From automating routine tasks to advancing data analysis, AI has the potential to reshape industries in ways that create new jobs, not just replace them.
State and local governments should be testing AI solutions, too. As baby boomers retire, tax revenue growth will slow while spending increases. To fill this gap, AI tools can help address job vacancies, inefficiencies, and application processes. The sooner we accept that the world around us is using these tools to solve problems, the better off we will be.
| 
