In: Economics
I NEED IT RIGHT NOW
Write about the following topic:
Machines are increasingly being used to do jobs that were previously done by humans. What problems are associated with this? What do you think can be done to solve this problem?
Give reasons for your answer and include any relevant examples from your own knowledge or experience.
Write at least 250 words. Please write your essay below.
Problems associated with Automation or artificial intelligence are following:
a) The biggest threat from using Machines extensively is the job losses.Machines can perform a task at a faster and more consistent rate than humans, this might lead to firing of workers at a large scale. Thus unemployment is the grave problem resulting from automation. Amazon is a great eg where workers are being replaced with robots/artificial intelligence.Elon musk company Tesla is also a prime example where more machines are more employed than workers.
b) Robots Work on the basis of information fed to them through a chip. Thus if anything goes wrong the company would have to bear loss.
c) Roberts are not as intelligent as humans because they cannot think beyond what has been pre programmed into them.
d) The initial cost of making them is quite large. If a robot malfunctions then it requires extra cost and time to reprogramme.
e) Robots can do all works resulting in humans work as just sit and moniter. This would cause health problems like obesity.
To compensate the job losses because of automation,it has been proposed to give a basic level of money to the people which is called as Universal Basic Income. Unemployment can have adverse effects on the economy therefore providing every citizens a basic income can help in mitigating this problem. But again the proposal of Universal Basic Income has its own pros and cons. An individual can also work on its skill learning. This will help them to survive in the age of automation because to handle Robots manual skilled labours required. Also if one has a proper high skill then it would be comparatively easy to get a job than unskilled workers.