As the modern world is progressing so is the Artificial Intelligence. Many think that using AI in the near future will outperform tasks that are performed by humans. The major question that needs to be answered is: how will Artificial Intelligence impact the human race and the economy, human relations and work. Will AI leave the human intellect way behind and maybe overrule the mankind or will it help develop the world beyond imagination?
IMPACT ON ECONOMY
Today many fear that using AI will result in unemployment since the need for human work will drastically incline. However, many believe that AI will help expand the economy and ultimately expand employment opportunities. The progress that AI will have will definitely impact the global economy.
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Improvements will include more effective decision making and better access to information. The extent of these economic effect will vary geographically, however it is very likely that AI will bring gains to both developed and developing countries. It is possible that AI will be able to optimize food production with analyzing different agriculture regions. On the other hand it is very difficult to asses which application of the AI will be a success. It is impossible to accurately calculate the economic effect of AI. Some researchers argue that the development of AI and automation wil jeopardize skilled and semi- skilled workers and skew the middle class. What matters the most is that as the technology changes and so will each profession and the employees will have to adjust to the new settings. This means that education will have to be very flexible in order to adjust quickly and to teach more effectively. It will highlight the lifelong learning and use of online learning. Despite of the development of AI there are little signs that education and welfare systems are modernized and flexible. Some even believe …show more content…
Another important question is how will people earn money when AI is taking over? It is obvious that many entrepreneurs will have a major economic reward from the development of AI but what about manual workers? It is very probable that AI will bring destabilization among winners and losers but on the other hand it will bring reduction of costs and prices. AI should be considered a tool that can help in performing difficult tasks. This revolution is about to turn margins beyond imaginable. AI will increase the income gap between less educated and more educated workers and increase economic inequality. Some possibilities to prevent this from happening is to pair humans with robots in partnership so they will be able to net out each other’s weakness. An example is a game of chess where a stronger computer can beat a weaker one, but if we give the weaker computer a human partner, it will be able to beat the stronger computer. Also this can be seen in medicine too. When an AI machine was given to determine if some cells have cancer, it had more than 7 percent error, while the doctor had around 3 percent. If we combine these too and use the machine and the doctor the error was evaluated around 0,5 percent, which is significantly