Socio Economic Disruption of Artificial Intelligence

INTRODUCTION 3 2. Literature review 9 General Information 9 Literature Review 9 2. DATA METHODS 18 2. Findings 19 2. Discussion 19 2. However, the current revolution is associated with attributes that are different from the other revolutions ranging from new technologies that impact biological, digital and physical globe affecting all economies and industries as well as challenging opinions about the meaning of being human(Schwab, 2017). Therefore, the thesis will focus on the socio-economic disruption of Artificial Intelligence and how to respond and adapt in the Fourth Industrial revolution. It will further concentrate on the ideas of Technological Unemployment, Skill-based Unemployment. It will also look at how AI(fourth Industrial Revolution) compares to the previous ones and the ever growing unemployment due to global crisis and how it will worsen in the future due to AI.

It will also focus on a case study on the autonomous cars and their impact in the current fourth industrial revolution. It was attributed to three elements including efficient connectivity in production, higher degrees of automation through the creation of mass production and further development of in the utilization of petroleum and electricity energy. Also, the supply chain evolved as the revolution was limited to inside the firm and they increased in many companies and countries (Baweja, Donovan, Haefele, Siddiqi, & Smiles, 2016). More so, automation led to the agricultural revolution through increasing yields through fertilizer production and an introduction of productive food storage techniques such as refrigeration. Also, during the revolution, standardization was introduction including quality standardization and transportation system and trade protection to the innovators (Ian , 2016).

Three, in the 1960s, the industrial revolution brought about the mainframes, personal computers, and the internet (Schwab, 2017). Fourth Industrial Revolution seems to be driven by excess connectivity and automation which will result in an expansion of diverse jobs to include low to high routine medium employment. As a result, it will lead to an intensification of the income bias between the low and high skilled labors (Ian , 2016). More so, the AI is expected to be a pervasive element in the revolution, and excess automation through the AI will enhance automation of some of the skilled previously possessed by humans. AI will make the largest benefits in the big data processing such as image and language processing. More so, excessive automation will permit the robots to and the AI to offer output, make difficult decisions, analyze outcomes and implement conclusions (Krinis, 2016).

The scope of change remains debatable; however, governments will be faced with adverse challenges due to the technology. Therefore, the government must start to concentrate on the effects of the of the fourth industrial revolution sooner and make efforts to determine the main trends that can affect the social, economic and political developments. For instance, foresight remains a traditional instrument utilized to describe the possible futures and social scientists use it to determine the optional futures and enforce a change to approach a desirable future. However, each government uses the foresight differently, but it possesses some limitations such as unfathomable nature of the changes make the utilization of foresight a challenge and political factors may affect the use of foresight. As the rise of the fourth industrial revolution begins, governments also need to plan for the future more appropriately (World Economic Forum, 2016).

More so, the axioms criteria could be used as a guide to develop the policy development and respond to the changes that can affect the moral norms of the communities as well as the economy. The government will be in a position to gain insight into the past, present, and the future and establish strategies and policies concerning the future advanced technologies that will replace the humans (Baweja, Donovan, Haefele, Siddiqi, & Smiles, 2016). The fourth industrial revolution possesses the potential to modify the transformational changes across all the industries and the government remains a crucial tool in designing debates and making sure that all the segments are equally represented because the changes affect the livelihood of citizens. More so, the governments need to the frontier by establishing boundaries and developing the limits to prevent the private industries from creating a tone through technological developments that bind the public authorities.

Therefore, the government needs to determine the trends to establish the path and strategies necessary to intervene to control the rising developments using foresight and other appropriate tools (Ian , 2016). Literature Review According to Bostrom (2014), people find themselves in the period of strategic complexity, which is associated with uncertainty. Also, he states that despite different considerations being established, their interrelationship and details remain poorly interpreted and dubious, and many other factors remain unconsidered. More so, Brynjolfsson and McAfee (2014) describe the three conclusions which include profound digital technological progress, the advantages associated with the digital technology and the challenges related to digitization. They emphasize that it even the most advantageous developments possess undesirable consequences that must be managed. The World Economic Forum (2015) determined the six software and services megatrends that seem to shape the society which entails the internet and the people, communication, computing, and everywhere storage, and the Internet of things.

Despite senior managers being far from obsolete, the machine learning is moving at a high rate, and they need to enhance their creativity in the innovation of organizations necessary for managing the intelligence machines, strategic thinking, and creative abilities. Manard focuses on the difficulties of practicingsustainable development and utilization of converging innovations (Manard, n. d. The author claims that the fourth industrial revolution demonstrates revolutionizedlink between physical, digital and biological technologies leading to a transformation on how the products are manufactured and utilized. The result is prominent in the current increase of internet of Things where changing information exchanges between networks are accommodating new capabilities from the producers and manufacturers to lifestyle promotion and risk management. Effects on Businesses, People and the Government Schwab identifies some of the effects of the fourth industrial revolution on people, business and the government as described below.

The fourth industrial revolution will have an effect on businesses because the velocity of disruption and the rapid spread of innovation seem challenging to understand and can underpin the revolution hence affecting the businesses. Also, innovations can disrupt the current value chain in an industry while the innovative rivals will improve prices, quality, and speed of the delivered value. Additionally, the increasing transparency, consumer acts, and new patterns lead firms to implement modern methods of delivering, designing and marketing the services and goods. More so, some platforms that integrate the supply and demand to disrupt the current structures seem simple to utilize via smartphones, data, convening individuals and assets hence developing the modern methods of consuming products and services (Manard, n.

The utilization of biological weapons and may become easier leading to mass destruction. In contrary, the new technologies will provide for better methods of handling and overcoming the conflicts through the creation of new methods of protection (Schwab, 2017). Additionally, the fourth industrial revolution will have an impact on individuals as it will alter the way people carry out their activities such as career development, nurture relationships, privacy, patterns of consumption and time set aside for leisure and work and also health among others. The introduction of internet connection has impacted the social life as people may fail to engage in critical dialogues. The revolution of AI and nanotechnology seems to redefine the meaning of being human by trying to eliminate the current threshold of cognition, life span, and capabilities which may undermine the current moral and ethical territories (Schwab, 2017).

Also, the autopilot capabilities represents the convergence between software and hardware systems and an increasing capabilities to modify rapidly the behavior of the hardware systems via software alterations which is beyond the control, monitoring and identification processes. As a result, the threat of environment, safety and health increases and the technologies may be exposed to insufficient regulations. More so, the convergence of cognitive argumentation, nanotechnology, robotics, AI, maker communities and gene editing are examples of converging technologies which seem to enhance the gap between what people are capable of doing and how to do it with care (Baweja, Donovan, Haefele, Siddiqi, & Smiles, 2016). Therefore, the governments must establish national and global frameworks to implement responsive governance and informed decision making. It is possible for attain the fourth revolution successfully in future to achieve environmental, social and economic progress.

Soon, the AI, robotics, geometric pace, and 3D printing among others will hit the market although they possess the potential for disruption. Currently, billions of workers are employed by the industries which might embrace the disruptive technologies, and other billions of individuals will need the jobs (The World Technology Network, 2015). The Wall Street Journal article by Larry Summers (2014) claims that the primary issue is not supplying enough but offering an adequate job as more industries are losing work and not creating new ones(Michael, 2016). Also, the main reason for the software innovation means that the jobs and sectors that they create may be for a short period. The argument is supported by other scholars’ such Mac Carthy argue that the prevailing idea that currently, the society is in the technological joblessness period that seems to eliminate the need for skilled workers(MacCathy , 2014).

Schwab states that the fourth revolution seems to take over from the 1970s revolution based on “cyber physical systems. ” It is associated with Educational Philosophy and Theory, electricity era, Information technology and cyber physical systems which seems unique due to its velocity, system and scope effect. The fourth industrial revolution remains the international link that possesses the power to change the whole system of governance, management and production (Schwab, 2015). Schwab stated that people need to stand on the technological revolution that will modify the way of life, relation and work. He claims that the response to the revolution must involve all the stakeholders internationally in private and public sectors as well as the citizens and scholars. It also offers evidence that education achievement and wages show a dominant negative connection with an occupation’s probability of computerization.

In conclusion, they state that computerization was traditionally defined by routine activities including explicit rule-based tasks. Algorithms for big data seem to enter the domains reliant rapidly due to pattern recognition and may substitute for labor in a broad range of non-routine cognitive activities. Robots appear to gain more advanced dexterity and senses making them to carry out more manual activities which might alter the nature of the job in occupations and industries. Their model forecasts job losses in logistics, service, labor in production, transportation, administrative and office occupations (Frey & Osberne, 2013). The bank of England forecasts that more than fifteen million jobs face threat in the current digitalization in U. K. including accountancy and law (Baker, 2016). Therefore, he provides 8 plans including allowing the youth to undertake computer science/technology and design in place of foreign languages, offering all the primary schools with the 3D design and printing programs, integrating the curriculum with technical learning and normal work experience and providing the youth with apprenticeships at fourteen.

He claims the UK workforce requires technical skills in computing and design field and other skills that cannot get replaced by the AI and robots such as enterprise, flexibility, creativity and empathy (Baker, 2016). DATA METHODS The research will analyze a case study of the self-driving vehicles technology which has gained momentum and seems to get associated with many benefits (Araujo, Mason, & Spring , 2012). The paper will concentrate on autonomous vehicles which are described as the greatest gift of civilization after the initialization of the internet. Self-driving cars represent the cars that can function under various circumstances and conditions despite the strain on the infrastructure, weather and driver’s assistance (Lee, 2015). The case study is required to answer questions such as 1. Have the self-driving cars faced the socio-economic disruptions of Artificial Intelligence? 2.

that operates the Uber Taxi services and plans to manufacture its self-driving vehicles soon as well as Tesla Company that plans to manufacture self-driven cars by the year 2018 for the research where the scholar conducted a participative observation. I attended several meetings in the organizations in addition to analyzing the relevant documents from the companies’ systems with the administration’s permission to gain more information on the effects of the self-driving vehicles on employees, society and organization. Findings The COEs agreed that their technologies or autonomous cars were associated with socio-economic disruption due to the AI and the employees agreed that their organizations were facing the disruptions. I discovered that the technology was associated with some barriers and that it was not fully prepared for the fourth industrial revolution.

I also discovered that the technology was threatening employment for some workers in the industry by displacing the employees. Therefore, the Google driverless cars are a disruptive technology, but it remains an incremental revolution that integrates various innovations (Araujo, Mason, & Spring , 2012). From the responses and research, I discovered that the most people were not fully equipped with the necessary tools to embrace the revolution as there exist some barriers and resistance to the technology. Despite the technology’s benefits, it may have some barriers to the market growth due to the current uncertainties. They include the maintenance network, cyber security risks, and legal liabilities. Legal responsibility in case of an accident shows that the policy makers do not respond rapidly to the current technologies.

dollars as mean income which is translated as more than half percent of the nation as well as 0. of the GDP in America in the year 2014. More so, the research shows that more than 2. million individuals will lose their jobs in future due to the autonomous vehicles (Araujo, Mason, & Spring , 2012). Studies also show that more than five hundred thousand bus drivers, one hundred and sixty transit bus drivers, one hundred and sixty Uber drivers and one hundred and eighty taxi drivers totaling to more than one million jobs (Lee, 2015). However, despite the job displacement issue, the innovation is associated with several benefits including the following. The robots cars will offer mobility to the minority including the disabled and the elderly as well as the young generation.

Moreover, the cars will make travelling less costly as well as safe hence modifying the globe. It will make life easy and interested since one can drive while browsing the internet, eating or sleeping. However, the revolution is associated with a huge disadvantage because many jobs will be lost. Most importantly, the vehicles remain environment-friendly as compared to the other cars because of the current innovations in the battery technology which reduces carbon emission (Lee, 2015). Therefore, the self-driving cars possess many benefits and their advantages outweigh their disadvantages and should be encouraged for the good of the community (McKinsey & Company, 2016). Conclusion and Recommendations From the results, I discovered that the CEOs acknowledge the socio-economic disruptions associated with the revolution. The driverless vehicles are not much disruptive because its notion has been in existence for some time.

The cars replicate the human driver capabilities and eliminate any issues related to human miscalculations and errors. dollars as mean income which is translated as more than half percent of the nation as well as 0. of the GDP in America in the year 2014. More so, the research shows that more than 2. million individuals will lose their jobs in future due to the autonomous vehicles. In total, more than four million U. Also, some strategies needs to be devised as the society moves to the fourth industrial revolution associated with the self-driving cars and they entail the following. Meaningful engagement remains necessary across all the disciplines and stakeholders concerning the converging technologies that will result in positive consequences. It is also necessary to promote actionable empathy because empathy remains vital to establish multi-stakeholder communications and conversations, although it is currently trained and practiced rarely.

Empathy allows shared appreciation of difficulties in areas without shared political, economic, technical and social knowledge which should be integrated with collaborative strategies to discover viable solutions without having to integrate all the perspectives of the stakeholders. More so, as the fourth industrial revolution gains momentum, stakeholders including managers and customers will gain an advantage from gaining more insight on its implications as they influence decisions (Krinis, 2016). Therefore, there remains a need to offer protection to the economic and social investments associated with the fourth industrial revolution in converging technologies via avoiding risks and creating responsible and responsive technologies. The government and the other stakeholders must, therefore, support new studies and interpret the research into beneficial outcomes (Manard, n. d. The fourth industrial revolution, the convergence technologies will undoubtedly lead revolutionary possibilities for the economic, environmental and social advancements.

The revolution will benefit many people and businesses including NGOs, civilians, researchers, scholars, governments, and investors among others. The open education possesses the capacity of exploration and innovation of modern learning practices. Therefore, the policy makers need to adapt to the openness and provide accessible and affordable and increase the revenues for the education institutions (Frey &Osberne, 2013). Also, business leaders must gain insight into the company needs and modifications and review their way of performing companies. They need to gain more expertize on the changing business environment, changing innovations and the challenges associated with the advancements. Additionally, people need to get empowered and maintain their human nature of stewardship, creativity, and empathy which are not prominent in the robots (Schwab, 2017). org/4115/e7cd1175d5eea31a57c5f1b135b9d559da3d.

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