Question

Please give advice / opinion on the following topic.

How and when will Al affect the relative earning power of different economic groups in society? What forms of inequality could this create or exacerbate?

Answer 1

Artificial Intelligence is the new booming technology.From the food you eat to the places you visit everything can be known with your activities through the internet using artificial intelligence.

AI can perform any type of complex tasks ranging from simple assembly to a complex operation.Artificial Intelligence is just the simulation of humnan intelligence that are programmed to mimic our actions.

But at the same time it will affect the relative earning power of different economic groups in society and this would create different types of inequality in the following ways:-

Assume an Industrialist started using artificial intelligence in his/her organization to replace manual labour and put automated robots in place of them.By doing so he can easily increase his production and there is also cost-cutting since he removes most of those employees doing manual work for that process.In this example the industrialist gets benefitted but there is a loss of employment for these workers.If one group of workers are affected then it will again affect another group.Assume a clothing company that stiches uniform for these employees.This also faces losses.

Educated youth having very very less qualification are trained to just mainatin these processes and the existing workforce is affected.

There will also be a lack of creativity in the longer run since whatever the things a machine do ,a machine is a machine and human is a human.It can never overcome human intelligence.Human intelligence is the greatest of all.

Imagine if AI goes on replacing different economic groups then in the longer run assume nobody would learn any creative work,craetivity will be lost,people will become stubborn.