Question

What new opportunities do these technologies create, and what responses are needed to ensure positive economic effects, inclusivity and equal access to benefits?

This more of the AI question, please explain me in details and the major points. Please help needs to understand this!

Answer 1

Artificial Intelligence (AI) is a concept used to describe computers conducting cognitive processes of a human nature such as learning, comprehension, reasoning, and interaction. It may take several forms, including technological technology (i.e. algorithms), a part of a process (production) or an end-user product. AI is increasingly likely to change the way modern communities live and operate in a profound way. Smartphone assistants like Siri are already performing a number of tasks for users today; in addition, all Tesla cars are related and items that one of them knows are shared across the entire fleet.

AI contributing to near-term productivity gains based on routine task automation which is likely to impact capital-intensive sectors such as manufacturing and transport. Extended use of technology such as robots and autonomous vehicles would be needed. Productivity will also increase as businesses supplement their current employees with AI technology and support them. This would entail investment in supported, autonomous, and improved intelligence-based software, systems, and machines; this will not only allow the workers to perform their duties better and more effectively but would also free up time to concentrate on more enjoyable and value-added activities.

But AI can also have a highly destructive impact on the economy and society as well. Others warn that it might lead to the development of supercompanies – wealth and information centers – that could have negative effects on the broader economy. It can also expand the gap between developed and developing countries and increase the demand for skilled workers while making others redundant; this latter phenomenon may have far-reaching consequences for the labor market.