HOW ARTIFICIAL INTELLIGENCE WILL TRANSFORM OUR ECONOMIC FUTURE

Usually, for the performance of tasks such as decision making, visual perception, translation between language and speech recognition, human intelligence is required. Artificial intelligence is the theory and development of computer systems that are able to perform such tasks. That is the tasks that require human intelligence. Today, artificial intelligence applications are everywhere. Artificial Intelligence has become the fabric of modern society. This article aims at bringing out the future of Artificial Intelligence and educating on the importance of embracing more Artificial intelligence innovations.

First and foremost, as the knowledge of computer grows to become more advanced amongst people, intelligent automation and the economy become more tightly, people often wonder whether robots will take all jobs in the future. This makes people more frightened about their wellbeing. However Artificial intelligence will actually create new employment opportunities that have never been imagined before. Also, they will boost profitability in the coming decades and fundamentally change the economy from one that depends on scarcity to one that relies on abundance.

According to CIO, during the industrial revolution in the 18th century where machine automation took off, society moved from agricultural to industrialize. Industries were situated in urban centres and so people had to move there to work.  Just like this revolution, artificial intelligence will move the society to a more complex one in terms of technology and the tasks to be done by human beings.

Report from Accenture (a global management consulting firm) as broken down by MIT Sloan Management Review indicates that Artificial Intelligence will create three new kinds of jobs that are trainers, sustainers and explainers. Trainers will be humans who teach Artificial Intelligence systems how to be more human. On the other hand, sustainers will be those that will ensure that the systems operate as designed and uphold the norms of human values. Also as Artificial Intelligence algorithms become more complex, Explainers will lay out the complex nature of a particular algorithm in simple language so as to show the nontechnical professionals how the program arrived at its conclusion.

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