HOW ARTIFICIAL INTELLIGENCE IS TRANSFORMING THE ECONOMY. WILL COGNITIVELY ENHANCED MACHINES DECREASE AND ELIMINATE TASKS FROM HUMAN WORKERS THROUGH AUTOMATION?

Author:Sion, Gratiela
Position:Report
 
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  1. Introduction

    The 4th industrial revolution is driven by information and communications technology, digitization, robotics, artificial intelligence, and machine learning, relocating more decision-making from human workers to machines. (Syam and Sharma, 2018) Artificial intelligence is presently controlled by a cartel of centralized leading companies that addresses the concerns of their stakeholders. (Axel Montes and Goertzel, 2018)

  2. Literature Review

    The advance of artificial intelligence in numerous frontier industries will result in more developed and more horizontally assimilated companies (AgostinoneWilson, 2016; Kliestik et al., 2018a; Mengoli, Odorici, and Gudjonsson, 2017; Popescu Ljungholm, 2017), to enhance organizations with more income centers, which redistribute a growing amount of tasks to autonomous entrepreneurial agents. Cognitive technologies may activate artificial intelligence intensive companies to subcontract tasks (Balcerzak et al., 2018; Kliestik et al., 2018b; Panova and Buber-Ennser, 2016; Sorells, 2018), beginning at low-occupation ones, and facilitate the freelancing agents the improvement of their respective reputations. Low-skill operations entailing diminished risk and for which artificial intelligence assists in advancing distinct reliabilities are top applicants for gradually becoming self-employment occupations as artificial intelligence disseminates in the economy. (Aghion, Jones, and Jones, 2019)

  3. Methodology

    Building my argument by drawing on data collected from AI Index, BMI Research, The Boston Consulting Group, Indeed, MIT Sloan Management Review, PwC, and Tractica, I performed analyses and made estimates regarding percentage who expect artificial intelligence will affect the workforce in the next five years, disruptive technologies in the healthcare industry, cumulative AI software revenue, top 10 use cases, world markets (2016-2025, $ millions), percentage who said the following technologies would have a high impact of disruption on their sector in 10 years, and share of jobs requiring AI skills.

  4. Results and Discussion

    The prominent companies in numerous sectors are reconsidering their processes to be more adjustable, swifter, and compliant to the behaviors, choices, and demands of their employees. Such flexible capability is induced by real-time information, and such processes are not regulated or ordinary but may frequently provide superior outcomes: main firms bring to market particularized...

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