How Artificial Intelligence will affect Productivity growth!
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From the very beginning of innovation, artificial intelligence (AI) has taken place in many sectors of human involvements. Artificial intelligence growth has taken such deep and core functioning places where human can be replaced easily and operations can be minimized in fractions. AI has brought many facilities for human as blessing also brought some issues that mankind has never seen before or never experienced before.
From the very beginning of industrialization economy and technology has deep connection for growth of every industry. Any industry took the advantage of technology always gained maximum growth than any other industry.
Here, artificial intelligence is the today’s top-notch output of technology, but we cannot certainly deliver any statement about where it will go or what it will do in future. Whereas pre-determined establishment of artificial intelligence, initially we are observing that it is helping our growth. Or we can say, is it affecting growth? that creates questionable sense.
Today we will give an overview of how artificial intelligence affecting the growth.
GROWTH IN PRODUCTIVITY OF FUTURE WITH ARTIFICIAL INTELLIGENCE
Productivity growth is ultimate key of economic success of every nation. From the beginning of industrialization to today’s advance technology implement in economics, business, finance every nation always seek for “growth”. World fast track countries like US, UK, France took the advantage of technology in terms of growth. Now in productivity for last few decades they are facing low rate of growth whereas they are leading global economy in every sector.
If we consider the scenario of United States, they are stuck for few decades in low productivity. Which is leading to lower rate of productivity. Like US, most advanced countries of the world facing the same issue, lower rate of productivity.
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The output of per unit equals productivity, indicates the financial condition of a nation and living status of its citizens. Wait higher productivity rate any nation can easily manage health care, environment, poverty reduction, deficits in budget, etc. issues. Though, leading countries in the world facing lower rate of productivity but we cannot say that their citizen’s leaving status is low.
HIGH PRODUCTIVITY OF FUTURE WITH ARTIFICIAL INTELLIGENCE
Artificial intelligence is now at just the tip of an iceberg. It is affecting full production system of many Fastrack countries. Due to implementation of artificial intelligence, human based labor is becoming less day by day. Even artificial intelligence is making less error on human based functions. Now a days artificial intelligence is contributing in industrial robotics and robotics-based production.
Which is reducing time lapse, cost, trial error and wastage. This functioning creating many creative opportunities for humans, where they can get involve in creative and noble functioning’s of society. In medical science artificial intelligence performing tremendously well. Specially in drug design, biotechnology research and genetic engineering.
In the field of mathematics, AI has shown unimaginable problem-solving capacity. Which will reduce human effort and allowing humans focus on other things. Artificial intelligence is such growth system where it trains up by inputting data and practicing new things. In near future, AI is going to open up many options, opportunities, scientific methods for growth in every sector where human will reinvolve in innovation, based on its support.
LOW PRODUCTIVITY OF FUTURE
Despite these challenges, the potential long-term impact of AI on productivity and economic growth cannot be ignored. As technology continues to advance and businesses adapt, the true potential of AI in transforming industries and improving productivity could eventually be realized.
With ongoing research and development, coupled with a clearer regulatory framework, AI has the potential to revolutionize various sectors, drive innovation, and ultimately contribute to significant productivity gains across a wide range of businesses and industries. As the technology matures and becomes more accessible, the integration of AI into everyday business operations has the potential to create new opportunities for efficiency and growth, benefiting businesses of all sizes.
The interplay between technology and intellectual property is a major challenge for the system. The growing landscape of patent law and the potential for “patent forests” highlight the level of uncertainty that is hampering AI progress. In addition, the strict rules imposed by national regulatory bodies and AI bans in some regions will undoubtedly hinder the continued development of this innovative technology.
From the very beginning of innovation, artificial intelligence (AI) has taken place in many sectors of human involvements. Artificial intelligence……
From the very beginning of innovation, artificial intelligence (AI) has taken place in many sectors of human involvements. Artificial intelligence……