Artificial intelligence and the economy in the 21st century

Artificial intelligence is a driving business force in this rapidly changing 21st century. AI is no longer an incredible vision of the future, but a stark reality that is turning companies around the world upside down. In the 21st century, companies are being forced to rethink traditional market approaches and become more service-oriented in order to remain relevant. Organizations like Uber and Air are perfect examples of 21st century companies. On-demand, always-on technology, driving agility, simplicity, flexibility and lean operators with customer experience at the heart of everything they do, has enabled organizations large or small to leverage the benefits of Artificial Intelligence (A1) successfully in the 21st century. Enterprises are gradually embracing A1 and it is increasingly affecting every aspect of business, particularly consumer technology.

According to IDC, the global market for cognitive systems, content analysis and discovery software is expected to accelerate by 2020. As a result, there is speculation about the growing role of AI and whether this could negatively impact the job market. Automation is not intended to replace or dehumanize humans, but rather to enhance and augment human functions to improve productivity and efficiency.

The main main advantages of artificial intelligence are given as follows:

1. Agility through orchestration: Leveraging the power of service integration and development, an agile and experience-driven enterprise can be created with programmable infrastructure, application versions, and catalog-based services.

2. Simplicity through Autonomy: Artificial and predictive analytics provide self-healing, self-service, and proactive support while minimizing waste and establishing elasticity. This simplifies working with enterprise systems and allows higher-level employees to perform higher-level tasks.

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3. Be lean through automation: Automating repetitive tasks leads to waste reduction, workforce optimization, and efficiency points and improvements.

Despite the disadvantages of AI mentioned above, it will still be several decades before AI will actually replace human intelligence. The horror scenarios of AI units taking over the planet and wiping out humanity are still part of science fiction. Although several futurists predict the possibility of transferring the human mind into a robotic body to strive for immortality in 2050.

The combination of AI and nanotechnology will also bring technological breakthroughs in the fields of medicine, energy and production systems. The combination of AI and nanotechnology applied in solar panels will cause prices of renewable energy sources to fall drastically from 2025 onwards.

The question that worries many has to do with the horror scenarios in which killer AI robots start chasing people in order to kill them. These scenarios were popularized by Hollywood blockbusters like Terminator. Although AI will benefit humanity, it must be controlled. Without proper controls and protocols, AI robots could turn hostile, although this is a highly unlikely scenario. According to Michio Kaku, AI robots will really benefit mankind. However, in the long term, AI robots need to be controlled with various built-in mechanisms to prevent them from becoming too independent and autonomous and becoming misanthropic as a real possible future scenario.