How can artificial intelligence (AI) help in social and economic growth?
Artificial intelligence implies an extensive offshoot of computer science that aids building smart machines dexterous of performing tasks that entail human intelligence. Its assistance to social and economic growth can place the country on a pedestal. It can strengthen the efficiency of workplaces. Human beings can invest their time in the tasks they are better equipped for by entrusting their work to the AI force. Over and above, by ameliorating the operations of healthcare facilities and medical organisation, AI can mitigate cost and guard money. It is seen by many as an engine of productivity and economic growth. It is forecast that by 2035, AI could double the annual global economic growth rate. It will lead to an increase in the labour productivity (by up to 40 per cent) due to innovative technology enabling more efficient work force-related time management.
AI helps the manufacturing units to enhance their sales and profit volume by increasing their productivity and optimisation. AI brings customisation and competitive effectiveness. The use of AI leads to an increase in national income and makes our economy a developed one, providing quality goods at reasonable prices to society. Thus, increasing the standard of living for residents. The use of AI in banking services can provide relief to people as it saves cost and time.
MIYUSH TREHAN, Ludhiana
Artificial intelligence plays a pivotal role in today’s world. It improves the efficiency of our workplaces and it may speed up the work that humans can do. It saves time for human beings which can be used in other productive activities. By doing so they may contribute to the economic development of the nation. They may use their intelligence for creating and inventing new things. The artificial intelligence can be seen as an engine of economic growth. However, if not handled properly, it may have disruptive effects on the economy and society.
For any individual or society, the need for social and economic growth and their development is essential. A tool like Artificial Intelligent (AI) is being used to find solutions for issues related to life and to different components of social development. Artificial intelligence is, sometimes, called machine intelligence, It is being applied for specific issues and has resolved them for the advantage of people.
May increase manufacturing
The use of artificial intelligence includes the working of machines. Computers help to revive the economy. The GDP of the countries can increase in the future as economy is changing very fast. It is very helpful in the field of agriculture to multiply the profits with new AI technologies. It can increase the rate of manufacturing.
Drishti Wadhwa, Kartar Nagar
Building effective tools
The use of artificial intelligence has presented an opportunity to build better tools and solutions to help world’s most pressing challenges. It impacts society in a positive way. It seems like an engine of productivity and economic growth. It has increased the efficiency with which things are done. It improves the decision making process by analysing large amount of data. Speed and accuracy which are most prominent features of progress are due to the AI only.
Support during pandemic
During the pandemic, AI-Based technology such as mobile phones is what kept people connected to their near and dear ones. Due to the use of the AI, employees could work and hold meetings from home.
Useful in all sectors
The Covid-19 pandemic has strained economies across the world. Artificial intelligence can be a pillar of support to the government and businesses during the pandemic. For instance, contact tracing, workforce planning and protection, resource optimisation and restarting the economic engine in a systematic and secure manner may be possible with the use of AI. Artificial intelligence needs to be extensively utilised in all sectors ranging from agriculture, MSMEs, financial services, healthcare to energy and logistics. Thus, multifaceted use of artificial intelligence can help to assess India’s vision of inclusive development. So, the country should seize the opportunity and actively promote Artificial Intelligence.
Analysing large amount of data
On the economic front, the use of AI will increase the efficiency with which things are done and improve the decision-making process by analysing large amounts of data. In the social sector, the use of AI and machine learning is generally aimed at improving efficiency, consistency and accuracy in addressing the 17 sustainable development goals (SDGs). At the same time, AI will replace certain types of jobs which will immediate the risk of job automation. Hence, the AI will be proved to be a boon as well as bane in the years to come.
Doing double the work
Automatic machines are capable of doing double the amount of work than 100 people may do so. Machines are capable of doing work in hazardous conditions and they consume less time. Take an example of cycle industry. The only problem they are facing is of less labour that’s why they are unable to meet the demand of people. Production for such industries may be supported by using Artificial Intelligence.
Ishita Lotey, Dugri
May resolve issues
With the use of Artificial Intelligence, several issues have been solved such as knowledge representation, personal life, work from home and learning. With Artificial Intelligence’s ability to extract insight from massive amounts of free form date, it can help us to direct action towards right venues. It is also responsible for growth on economic front. It can improve the efficiency for carrying out works and improve the decision-making.
Simranjeet kaur, Dugri
Creation of new products
The use of artificial intelligence can increase the efficiency with which things are done and vastly improve the decision-making process by analysing large amounts of data. It can also spawn the creation of new products and services, market and industries, thereby boosting consumer demand and generating new revenue streams. The disruptive effects off all may also influence wages, income distribution and economic inequality
Taranpreet kaur, Urban estate
Artificial intelligence plays an important role in every sector and walk of life. Artificial intelligence may support economic growth by using data to formulate policies. Artificial intelligence may work like humans. We may use it in the construction of roads, dams and other public utilities by using algorithms and data. AI may help society to learn and apply the available information for better and conducive results in their routine activities.
Mohd Saleem Farooqui
Can perform dangerous tasks
Artificial intelligence (AI) is a two-edged sword. It is helpful in uplifting the economic situation of a country. The AI has the ability to improve the efficiencies of our workplaces and can augment the work humans can do. It can perform the tasks which are repetitive or dangerous in nature. There are various negative effects of the AI on society too. It’s use influences wages and salaries, income distribution, economic inequality and concentration of wealth in a few hands. The rising demand for highly skilled workers capable of using the AI will increase their wages and as a result, many unskilled and semi-skilled workers may face unemployment. The AI has impacted many industries such as retail, security, defence, manufacturing, transportation, research, social networking and advertising in a positive way. The AI, if used properly, can boost the economy.
Repetitive tasks can be managed
With the use of artificial intelligence such as computer, machines and robots, the workload of labourers will automatically decline and other repetitive tasks may be completed with efficiency. While using Artificial Intelligence, resources are optimally utilised that leads to enhanced production, reduced wastage and generating more profitability. Another benefit of artificial intelligence is data processing. By using Artificial Intelligence, creative and innovative ideas are developed and it leads to a smooth functioning of any activity such as Google maps support the growth of cab facilities.
Support to human effort
Artificial intelligence may increase the efficiency with which tasks are done and vastly improve the decision-making process. It takes over repetitive or dangerous task. It will help humans make time for work they are better at — tasks involving creativity and empathy. It can provide humans a relief from doing various repetitive tasks. It reduces the workload.
Mannat Middha, Model Town Extension
Useful in medicine
Robots will save workers from performing dangerous tasks. They can work in hazardous conditions such as poor lighting, toxic chemicals or tight spaces. They are capable of lifting heavy loads without injury or tiring. It will support human labour and increases productivity. Artificial intelligence can not only replace human labour, it can also complement it. In medicine, doctors may carry out diagnoses using intelligent digital assistants that sift through huge medical knowledge data.
Machines don’t take break
Artificial intelligence plays an increasingly important role in our lives and economy and already impacts our world in many different ways. Artificial intelligence is seen by many as an engine to productivity and economic growth. It increases the efficiency with which things are done. Machines don’t require frequent break. One of the greatest advantages of artificial intelligence is its use in the field of medicine.
Aastha malik, Atam Nagar
Pillar of support
Artificial intelligence can be pillars of support to government and businesses during the pandemic for containing virus. A report highlights that with the use of AI, India can achieve the vision of becoming a $5 trillion economy by 2025.
Need of the hour
Small businessmen should be educated about the use of Artificial intelligence so as to bring about a comprehensive change. The use of AI has become the need of the hour for all businesses.
Bir Devinder Singh Bedi
Helpful in all spheres
Artificial intelligence has the capability to solve complex situations carefully and easily. From diagnosing cancer to helping the blind people move freely, it can do several things. Artificial intelligence will play a key role in setting a landmark on the economic front and increase the GDP as most of the tasks in factories that are being done by workers will just be done with the help of mechanised machines.
Vivek Shukla, Passi Nagar
The AI will definitely go a long way in boosting the economic reforms and overall progression by continuing to be the basis of all computer learning. Above all, it is the future of all complex decision making. It can multiply the efficiency of our workplace and augment the work we do. It will help in inclusive growth.
Dr Sunil Chopra, Lakkar Bazaar
Capable of self-learning
Artificial intelligence development and application can lead to many benefits for global challenges. It will create a new virtual workforce that may be capable of solving problems and self-learning. The economy will benefit from innovation that will affect different sectors and create new revenue streams.
Savleen Pahuja, Model town
Artificial intelligence is a part of computer science under which intelligent machines are being made which respond and work like humans. Artificial intelligence machines can solve any problem just like humans. Just as humans improve their ability with experiences, so do the programmes of artificial intelligence, through which machines can also learn.
OPEN HOUSE COMMENT
Applications of AI can transform life
Artificial intelligence (AI) complements and supplements the human intelligence. It holds the promise to enrich human life and experience. India, one of the fastest growing economies and the second largest population in the world, has a significant stake in the AI revolution. The Covid-19 pandemic has increased this stake multifold.
The focus areas for AI intervention include healthcare, agriculture, education. Niti Ayog clearly mentions that smart cities attempt to address the challenges of urbanisation through development of features based on the IT solutions.
“Due to a large amount of data they can create, smart cities are especially amenable to application of AI, which can make sense of the data being generated, and transform it into predictive intelligence – thus transitioning from a smart city to an ‘intelligent city’. However, the wide range of connected devices also gives rise to increased risks in cyber security…”
The bottomline is that the AI can transform life – in fact it can transform all aspects of life, including social, economic and developmental. Finally, the success depends on how it is used, monitored and tailored to the local needs and requirements. AI in itself is neutral. But it can be harnessed effectively for the welfare of the people.
OPEN HOUSE QUESTION
What steps can be taken to deal with the problem of poor civic amenities in Ludhiana? email@example.com