Artificial intelligence not only has the potential to boost production rates, but it also could boost the economy.
An FKD Feature exclusive

Many people are hesitant to accept artificial intelligence as beneficial to society, usually because of the fear that it will take over the labor force. The uncertainty of how technology will progress is what causes people to be skeptical about artificial intelligence.  

While some people are fearful of the effects of artificial intelligence, there are others who embrace it — knowing that artificial intelligence has the potential not only to boost production rates but also to improve the economy.

What is artificial intelligence?

The definition of artificial intelligence is, “the capability of a machine to imitate intelligent human behavior.” Now, artificial intelligence may seem like something futuristic, but it isn’t. People use artificial intelligence every single day. Video games, smart cars and even Siri or Cortana on your smartphone are all examples of artificial intelligence.

So, if we use artificial intelligence on a daily basis, why are people so afraid of it?

Movie time

Let’s face it, artificial intelligence gets a bad rap in basically every movie it’s featured in. When it comes to the public’s perception of artificial intelligence, most people probably associate it with post-apocalyptic scenarios from Terminator. Now that artificial intelligence is becoming more developed every day, people are becoming more nervous, but they aren’t necessarily afraid of robots taking over the world — yet.

Rather than being paranoid over a violent machine, many people are scared that their jobs are on the line. The idea that a machine can do everything humans can do is a scary thought; it could mean that humans are no longer useful in the workplace. Who wouldn’t be scared by this? But the reality is that artificial intelligence could actually be helpful for jobs and the economy.

AI takes over

Despite many jobs becoming automated or even eliminated thanks to machines, artificial intelligence has the potential to produce more jobs for people by creating new opportunities. For example, teachers will be able to expand their skillset by becoming computational linguists — people who help artificial intelligence understand language.

Aside from transforming jobs, artificial intelligence could potentially boost the economy. Artificial intelligence plays a role in almost every aspect of a business; from production to sales to innovation. Artificial intelligence is even able to analyze data, giving business owners insight into their customers’ behavior, demographics and purchasing habits.

Allowing artificial intelligence to take over some of the monotonous activities that were previously done by people would let us become more innovative and focus more time on improving businesses.

Takeaway

Artificial intelligence can be quite intimidating, especially because people who aren’t developing it probably know next to nothing about how it works. Although it might seem bad, there actually is a lot of potential for artificial intelligence to do some good for jobs and the economy.

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Header image: Adobe Stock

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Posted 05.05.2017 - 04:56 pm EST