The Growth of AI Automation across the World

Document Type:Thesis

Subject Area:Business

Document 1

However, the artificial intelligence innovations have caught fire in the modern-day periods since they are the top hottest topics on the interests of the world’s leading technology-based firms. AI is not new in the accounting and auditing realm, but there are reasons to anticipate a more profound effect in the coming periods because of the recent advancements in the information and technology (Kokina & Davenport, 2017). Issues associated with continuous onslaughts of data forced the innovators to seek for the new systems that learn and adopt thus, the AI innovation. With these innovative technological advancements, operations that were deemed impossible in earlier decades are now expected to become a reality. For instance, AI acts on the flood of data generated by billions of the interconnected devices in the internet of things which was previously impossible(Bughin, 2017). According to Eichhorst, Hinte, Rinne and Tobsch, (2017) the breakdown of activity and task profiles, which was impossible in the previous decades is made possible by these innovations (Eichhorst, Hinte, Rinne & Tobsch, 2017). For these reasons, the AI has become one of the debatable topics in the vast literature because researchers and other professionals have contradicting perspectives about this innovation. Since the last decades, there has been an increase in the number of, articles, studies, and periodicals addressing the AI issues because this topic seems to influence all aspects of humanity. Some studies have examined the uses of AI while others investigate the ethical and social concerns associated with the widespread use of AI innovations. Even though researchers have been using distinct paradigms to explore this topic, they all agree that the current flurry of the AI innovation wouldn’t have been possible in the absence of the confluence of three determinants that combined to derive the right equation for the AI developments.

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Sectors in Which AI Is Used Most AI innovations are driving profound changes in several industries, and it is forecasted to influence, most sectors in the subsequent periods. The emergence of the AI and robotics will trigger a wave of productivity gains in the healthcare, education, security, transportations, justice, agriculture, commerce, insurance, banking and retail industries (Miailhe, 2017). AI is helping financial institutions to keep up with the increasing quantity of financial records. Robots utilize predictive methods and market information to predict the stock tendencies and control finances more rapidly as compared to human counterparts. Financial institutions are adopting customer-friendly technologies such as ATMs (Machines, Internet, and telephone banking to transform the quality of their services. Manufacturing section is another arena where AI innovations present facets of profound influence. Manufacturing was one of the earliest industries to harness AI through the use of robots to assemble produces and package them for distribution.

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According to one study assessing the effect of AI on the automation industry, more than 800 million jobs are expected to be lost worldwide because of the widespread use of automation in the manufacturing industry (Manyika, Lund, Chui, Bughin, Woetzel, Batra, & Sanghvi, 2017). Besides this integration will force more than 14% of the global workforce to transition to new occupational category and learn new skills (Manyika, Lund, Chui, Bughin, Woetzel, Batra, & Sanghvi, 2017). This means that automation in the manufacturing industry is likely to cause more job losses as compared to the job created. Companies such as DigitalGenious are helping businesses automate fundamental test question and answer chats with their respective clients (Frey & Osborne, 2017). According to Schmitt, Brakus, and Zarantonello robotic especially the RPA software that automates basic and repetitive administrative tasks enhance customer experience and satisfaction as compared to the human workforce (Schmitt, Brakus, & Zarantonello, 2014).

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Additionally, the marketing and advertising industry profoundly depend on the automated tools to pass their intended message. These tools are dependent on the machine learning and artificial intelligence ideations. Besides, Papathanassis Alexis contends that the Japanese hotels such as Henn Na Hotel are opting to use the state-of-the-art committed technologies to maximize efficiency, excitement, and comfort of their guests (Alexis, 2017). Supportively Eichhorst, Hinte, Rinne, and Tobsch (2017) in the study of assessing the effects of computerization on the labor markets, they documented the developing transformations of occupational and employments and found out that the number of solo self-employed individuals declined in Germany and the United States since 2012 (Eichhorst, Hinte, Rinne & Tobsch, 2017). Additionally, the researchers compared the number of solo employment and individuals employed in platform economy to evaluate the effect of AI in the platform economy.

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The outcomes indicate that the number of individuals employed in the platform economy is diminishing in these countries (Eichhorst, Hinte, Rinne & Tobsch, 2017). For these reasons, the authors believe that computerization is resulting in massive unemployment. Furthermore, the evidence presented in this study supports the stance that digitalization especially uncontrolled technical developments in the labor world are fostering enormous job losses and severe social inequalities. Unemployed individuals are more probable to participate in social unrest as compared to waged groups. Additionally, Automation in South Korea increases unemployment rates in other countries such as Syria because the unemployed individuals free their homelands in search of jobs (Yongjun & Baker, 2017). As an outcome of these economically-driven migrations, the receiving countries are experiencing the plethora of issues (Yongjun & Baker, 2017). Despite the alignment in the outcomes of several studies evaluating the impact of automation on employment, some studies present different perceptions about the role automation plays in the employment sphere.

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Hing Ai Yun (1995) in the study to investigate the correlation between automation and working patterns indicates that automation will result to new work patterns that will transform the proportion of the workforce to the level that the supply of labor would meet the market demands (Hing, 1995). To ensure that the country does not encourage more than one million immigrants to fill the expected human resource deficits, the researcher argues that adoption of AIs will help the state fill the current gap (Campa, 2004). However, the author recommends that the level at which machines will be integrated into the society must be controlled to ensure that humanitarianworkers are protected from losing their space in the economy (Campa, 2004). Also, the debate on unemployment shows that in the UK, 30% of the jobs are at high risk of being taken by the AI innovation.

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The United States has already warned of the impact of robots in the world since they believe to destabilize the world economy meaning that all countries that transitions to AI will experience shifts in their workforce. Benefits of Automation The findings of the studies on the perquisites of the automation conducted over the past few years have a standardized assessment and projection. Furthermore, AIs and robotic ideations are helping tourism and hospitality firms improve their services. Robots are used to welcome customers and assist them in several Japanese hotels thus helping the companies evade the problems associated with human workforce (Alexis, 2017). Additionally, integrating AI in the tourism and hospitality industry enhances the customer service delivery and engagement. Besides, the computerization advances production by reducing costs and enhancing efficiency. Automation will immunize companies such as Nike from the labor shortages because these technologies are cost-effective and more accurate as compared to the cost of hiring even the lowest waged workers in the business world (Yongjun and Baker, 2017).

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These jobs will exist because machines and robots are not able to create the human connection (Smith & Anderson, 2014). For instance, selling of insurance policies and investigating the insurance claims requires human contact meaning that computers will not be solely used in these sections. Authors, fashion designer and tailors, psychologist, musicians, judges, art educators, pro athletes and clergy are the main jobs that machines can’t take away from the human. Additionally, new jobs will emerge due to the transition to AI. These jobs include big data analytics. Researchers argue that state intervention is one of the possible preparations that can help in solving these issues. Lops, Gemmis and Semeraro, assert that state intervention will ensure that AI does not impact the governments and the workforce negatively instead help these corporations and workforce adopt the technologies with minimal to no issues (Lops, Gemmis & Semeraro, 2011).

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Governments may provide direct and indirect support to drive the revolution of robots and AIs. The Korean government invested more than 1. trillion in 2016 to enhance its robotics industry (Lops, Gemmis & Semeraro, 2011). Moreover, these policies will help the governments enhance fairness, governance, and safety of the AI application for public safeguarding. In the context of education, the government may transform their education systems to make sure schools create a breeding ground for the learners to acquire practical and longstanding skills, trainings and mechanisms. These aspects will empower millions of individuals to viable transition jobs, industries and potentially geographies (Miailhe, 2017). Moreover, the developed systems will enable the graduates to become physically, virtually and legally mobile. Education will help the regimes acquire citizen input and support for the implementation of these technologies, which is integral to the governments preparing for the rise of AIs and robotics (Lops, Gemmis & Semeraro, 2011).

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Also, universities may educate learners the new approaches to ask questions, find solutions and handle the transformed situations (Bughin, 2017). In addition to the traditional undergraduate programs, higher education institutions in alliance with industries and governments may develop flexible and cost-effective learning programs that are sensitive to the employer’s needs and exceeds the micro-credentialing of content skills and knowledge provided by the comprehensive online course (Miailhe 2017). These changes in the university education will significantly attract the necessary talents to develop and diffuse innovatively new pedagogies that will help the graduates maintain their employability in the transformer market. Kokina and Davenport (2017) indicate that the application of AI in the accounting and auditing realm will narrow down the parameters of jobs for these professions to 5 positions. These positions include working with the machines to monitor their performance, overseeing the use of these machines, collaborating with other firms to develop AI-based computers, carrying impossible tasks and addressing the accounting tasks that are uncommon and narrow to be solved by computers (Kokina & Davenport, 2017).

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These skills will help graduates to maintain their role in the labor market. In conclusion, the studies considered in this section are contradicting findings because they do not agree on a similar consent about the growth, effects, and influence of AIs in the modern-day and subsequent decades. For this reason, the current research will investigate the impacts of machines on the next half-a-decade, the possible targets of these innovations and the effects on the working time and wages for the human workforce. Furthermore, the studies pay little to no attention to the ways of creating employment for the affected individuals. This study recommends that shifting in education, labor laws and other training initiatives are the primary strategies individuals, organizations and governments can implement to generate jobs or encourage employment for the AIs victims.

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THRIVING IN THE AGE OF ACCELERATIONS: A BRIEF LOOK AT THE SOCIETAL EFFECTS OF ARTIFICIAL INTELLIGENCE AND THE OPPORTUNITIES FOR LIBRARIES. Journal of Library Administration, 57(7), 789-798. doi:10. Brougham, D. Haar, J. J. Robots and humans–complements or substitutes? Journal of Macroeconomics, 49, 280-291. Eichhorst, W. Hinte, H. Rinne, U. B. Osborne, M. A. The future of employment: How susceptible are jobs to computerisation? Technological Forecasting & Social Change, 114, 254-280. doi:10. J. Artificial Intelligence in the UK: Risks and Rewards. Retrieved from;https://www. researchgate. net/profile/Alexander_Karran/publication/301871573_Commons_Select_Committee_-_Robotics_and_artificial_intelligence_inquiry_-_Written_evidence_Artificial_Intelligence_in_the_UK_Risks_and_Rewards/links/572a6e6508aef5d48d30cdc0. Springer, Boston, MA. Manyika, J. Lund, S. Chui, M. Bughin, J. The Policy Challenges of Automation. Field Actions Science Reports.

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The journal of field actions, (Special Issue 17), 66-71. Naik, G. Bhide, S. AI, Robotics, and the Future of Jobs.  Pew Research Center, 6. Yongjun, C. Baker, B. The Impact of Automation on Business and Employment in South Korea.

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