Artificial Intelligence and its Potential Impacts on Workforce and Economy (Essay Sample)

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Artificial Intelligence and its Potential Impacts on Workforce and Economy
The constantly evolving nature of data innovation and technology has brought about an uncommon change in the business and economic structures from a perspective of machine-workforce interaction (Makridakis 51). Optimists imagine an idealistic future with Genetics, Nanotechnology and Robotics (GNR) revolution, enabling people to harness the speed, memory and information sharing capacity of computer and grids through machine learning (Makridakis 50). Powered by machine learning, Artificial Intelligence (AI) has the potential to transform the human workforce systems and economic systems. Nonetheless, prominent figures such as Elon Musk and Bill Gates have provided continuous doomsday alerts about AI becoming progressively talented than humans at everything (Ghosh). There is a need to analyze the recent literature on AI to understand its potential implications on workforce and economy. With this as the background, the current paper argues that AI, powered by machine learning is a modern technological innovation, which has the potential to change the dynamics of workforce and transform the economy.
Artificial Intelligence (AI) and its Potential Impact on Workforce Dynamics
AI adoption has potential impact on workforce dynamics. AI adoption will result in job creation for data scientists and analysts (Rowe; Ghosh).