Artificial Intelligence, some centuries ago, might have sounded like a science fiction novel. Alpha Zero, a Deep Mind development, opens us up to how interesting further AI developments could become soon. Artificial Intelligence is a fast-growing technological aspect widely incorporated into our daily activities. It copies human behaviours and, through advanced algorithms, provides solutions to technical problems more reliably than human intelligence. This technology has simplified and automated many tiresome tasks, and its market is set to double in the coming decades. Artificial intelligence is widely unexplored. Hence various states have deeply invested in its research. It is predicted to improve productivity, accuracy, and precision. Advancements in AI will promise regulations and laws that foster accountability and collaboration from all involved parties. Interestingly, the AI job market is likely to boom due to the increasing demand for professionals in the industry.
AI is set to be highly incorporated in the business sphere. Data is a crucial tool in the interactions between customers and marketers. Marketing is developing into a “more-than advertisement task”. Television advertisements are a crucial step in reaching your customers, but with the changing business space, marketers will need more in-depth information to address market demands accurately. A study by Euromonitor International projects $118 billion in AI solutions for businesses by 2025 (Letheren et al. 2020). Businesses will embrace artificial intelligence as robots and electronic gadgets. Multiple industries such as manufacturing, hospitality, travel and tourism are set to benefit from artificial intelligence solutions such as robotics massively. These industries will have workload relief since robots can rescue under-staffed companies. Most importantly, artificial intelligence will further improve the effectiveness of business operations. The software will be tasked with in-depth analysis of raw data, simplifying the organizational decisions (Letheren et al. 2020). AI will improve business sales by mining huge data chunks that provide insights into industry trends. This will also reduce the time spent on making organizational decisions. AI will supplement the organization’s skills through the additional expertise provided by intelligent support. Business spaces are predicted to rely highly on artificial intelligence shortly.
Artificial intelligence will improve reliability and accuracy in the workplace. The healthcare sector is among the few that will benefit from AI developments to improve service delivery. Detection, diagnosis, and prediction of future outcomes have proved to be demanding tasks requiring a foolproof approach. Cancer and neurology will benefit from high-tech techniques developed through AI that might have been relatively involved in tackling human intelligence (Letheren et al., 2020). AI proponents predict a future with massively improved healthcare solutions due to the technology. Manufacturing companies will further benefit from AI due to its high accuracy. It will be crucial in manufacturing extremely small components that might prove impossible to human ability, such as microchips. AI will also provide improved workplace safety. It can synthesize the data on the work history and generate safe workplace procedures. More advanced sensor installed on machines and employees will reduce their exposure to accidents. Equipment control will highly reduce injuries during work operations. The future of AI promises reduced human error since the systems can detect fatigue and circle dangerous zones (Letheren et al., 2020). Humans will enjoy less involvement in dangerous manufacturing procedures. Inaccessible areas will have developed drone technology which has proved highly efficient since its inception.
Development in AI technology will possibly cause a shift in the market. It is a subject of great context whether AI will increase job opportunities or vice versa. Automation will replace most workers, especially in the labour sector. AI critics call out a probable situation of massive unemployment and economic inequality in the wake of rapidly developing technology (Frank et al., 2019). Humans will likely need a shift in their work training since new careers will arise in robotics and machine learning. AI will also require new policies that maintain an economic and political balance (Webb, 2020). A Doomsayer’s perspective maintains that advancements in automation technologies will render the majority of the population jobless. More than 50% of the population in European nations are at risk of joblessness should AI be vastly implemented across their professions (Frank et al. 2019). These conclusions might, however, be unreliable due to the limited data available on the intermarriage of AI and labour demand which might offer a subtle solution to the probable unemployment. Although optimists might allude that AI will increase job opportunities for workers who are indirectly competing with it, it is an issue dependent on its implementation procedure. This situation will demand extensive research and education of the public on the probable market shift that would arise from the technology.
AI promises a secure technological platform in the future. The future of artificial intelligence will have to address the fears that arise from this rapidly growing technology. It is clear that transformation due to AI is seemingly inevitable. Consumers will require policies that protect them against harm and fraud. AI could be potentially used for government control and even war crimes (Floridi, 2020). There are numerous ethical concerns such as the exclusion of the lower classes and reduced human participation in task performance. Cyber security which is a persistent vice replicates however much it is curbed. AI presents a potentially dangerous technology that will cause an undetermined degree of harm in such a case of hacked robots. The future of AI should therefore uphold high data security. Data, an equivalent of oil in its value, is priced depending on the buyer. Consumers’ data can be accessed or sold without their consent to benefit their marketer’s intentions. The future of AI however promises secure networks and devices. AI will provide analysis reports of the security possible threats (Floridi, 2020). Organizations are setting up zero-trust policies that will protect user data. AI should improve the user identification procedures to ultimately secure their systems.
Commerce will significantly benefit from the simplified methods of advertisement and transaction. The business companies will be able to effectively reach and address their customers’ needs. Companies will most likely benefit from the well-analyzed data that will enable inform organizational decisions. AI also promises a high degree of accuracy at workplaces. Technical procedures such as delicate surgeries and chronic disease treatment will utilize the well-developed algorithms that have accurately been improved from well-trained human intelligence and other knowledge resources. It is beneficial since humans will enjoy greater workplace safety. It will, however, cause a significant shift in the job market. Many companies might have fears that AI technology will even render their Information Technology personnel jobless. It should however be embraced and intertwined with the Information Technology departments to optimize the companies’ operations. The technology when properly synchronized will allow the company to venture into new fields and increase their jobs and revenue generation
References
Frank, M. R., Autor, D., Bessen, J. E., Brynjolfsson, E., Cebrian, M., Deming, D. J., … & Rahwan, I. (2019). Toward understanding the impact of artificial intelligence on labor. Proceedings of the National Academy of Sciences, 116(14), 6531-6539. https://www.pnas.org/doi/abs/10.1073/pnas.1900949116
Letheren, K., Russell-Bennett, R., & Whittaker, L. (2020). Black, white or grey magic? Our future with artificial intelligence. Journal of Marketing Management, 36(3-4), 216-232. https://www.tandfonline.com/doi/abs/10.1080/0267257X.2019.1706306?casa_token=VsIZLCAZNWwAAAAA:5w1CeQjs1SLNTGpc8WpoL_HNqgFIzMjQLAh52YNvCfMp0pIWnY_AggejvQG3E20QyFGswtpjOeKLBXFttw
Floridi, L. (2020). What the near future of artificial intelligence could be. In The 2019 Yearbook of the Digital Ethics Lab (pp. 127-142). Springer, Cham. https://link.springer.com/chapter/10.1007/978-3-030-29145-7_9
Webb, M. (2019). The impact of artificial intelligence on the labor market. Available at SSRN 3482150. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3482150
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