{"id":23630,"date":"2019-07-12T13:06:07","date_gmt":"2019-07-12T10:06:07","guid":{"rendered":"https:\/\/www.bondora.com\/blog\/?p=23630"},"modified":"2019-07-12T13:06:07","modified_gmt":"2019-07-12T10:06:07","slug":"in-a-limitless-ai-future-without-jobs-who-will-be-wealthy","status":"publish","type":"post","link":"https:\/\/goandgrow.eu\/en\/blog\/in-a-limitless-ai-future-without-jobs-who-will-be-wealthy\/","title":{"rendered":"In a limitless AI future without jobs, who will be wealthy?"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.goandgrow.eu\/blog\/wp-content\/uploads\/image.png\" alt=\"\" class=\"wp-image-23631\" \/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">In the 21st century, technology has moved at lightning speed. New innovations have, in many ways, created a better and more efficient world. One of the most talked about areas of technological advancement is artificial intelligence, where human nature merges with technological genius. The use of artificial intelligence is already playing a role in daily life for individuals and being explored in almost every industry imaginable.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But while artificial intelligence can improve many things, what are the ethical implications of machines thinking like humans? Could we be biting off more than we can chew?&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is AI?<strong><\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Artificial intelligence\n(AI) is the area of computer science directed at creating technology that\nworks, reacts, and learns like human beings. The intelligent machines created\nusing AI can learn from their mistakes, problem solve, and reason in a way that\nmachines have not been able to until this point in human history.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While robots are the commonly thought of image of AI, this technology can already be found embedded in different products and services used in everyday life. Some examples of AI include:<br \/><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Speech recognition software<\/li><li>Text-to-speech capability<\/li><li>Email spam filters<\/li><li>Business forecasting<\/li><li>Mobile check deposits<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Needless to say, AI is already very prevalent in the world today, and its use is only growing. More egregious forms of AI are now being found in the creation of <a href=\"https:\/\/www.bostondynamics.com\/\" target=\"_blank\" rel=\"noopener\">human-like robots<\/a> that can do everything from lift boxes in a warehouse to play catch.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Main Areas of Use<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">While AI seems scary to many people, it is already proving to be a tremendous boost to a variety of industries. This is because AI principals can be applied in different ways to create a more efficient and effective method of solving problems.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Healthcare<\/h4>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.goandgrow.eu\/blog\/wp-content\/uploads\/image-1.png\" alt=\"\" class=\"wp-image-23634\" \/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Producing the correct\ndiagnosis for a patient is one of the most important aspects of the role of\nhealthcare providers. Providers themselves can use their own knowledge-base to\ndetermine a diagnosis, but AI provides an added boost that can be extremely\nbeneficial to accurately diagnosing a patient.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AI can aggregate vast\namounts of patient data and <a href=\"https:\/\/medicalfuturist.com\/top-ai-algorithms-healthcare\" target=\"_blank\" rel=\"noopener\">suggest diagnoses<\/a> and subsequent ways to treat patients\nbased on this data. As more patient data is collected, AI can accurately\nidentify a diagnosis and treatment. Robots using AI have even <a href=\"https:\/\/ifr.org\/ifr-press-releases\/news\/robot-destroys-hospital-bugs-iera-award-2019\" target=\"_blank\" rel=\"noopener\">eradicated bacteria and harmful microorganisms<\/a> to help hospitals get to a 99.99%\ndisinfection rate.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Manufacturing<strong><\/strong><\/h4>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.goandgrow.eu\/blog\/wp-content\/uploads\/image-2.png\" alt=\"\" class=\"wp-image-23637\" \/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">The manufacturing industry has always worked to become more efficient by any means necessary. In the 20th century, machines were introduced into manufacturing to increase productivity. Today, AI is being used to further this pursuit.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Andrew Ng, the creator\nof the deep-learning Google Brain project, notes how AI is set to improve\nalmost all areas of the manufacturing process. \u201cAI will perform manufacturing,\nquality control, shorten design time, and reduce material waste, improve\nproduction reuse, perform predictive maintenance, and more,\u201d <a href=\"https:\/\/www.asme.org\/topics-resources\/content\/artificial-intelligence-transforms-manufacturing\" target=\"_blank\" rel=\"noopener\">said Ng<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the manufacturing world, AI can be used in conjunction with the internet-of-things (IoT) to connect a network of devices and machines. These machines can then predict when maintenance is needed before a machine malfunctions. For instance, \u201cThe use of vibration or sound sensors and torque monitors can help assess the state of the machinery, as dull tips move and sound differently,\u201d notes a <a href=\"https:\/\/www2.deloitte.com\/content\/dam\/Deloitte\/us\/Documents\/process-and-operations\/us-cons-business-case-digital-supply-networks-life-sciences.pdf\" target=\"_blank\" rel=\"noopener\">Deloitte report on digital supply networks<\/a>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Transportation<\/h4>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.goandgrow.eu\/blog\/wp-content\/uploads\/image-3.png\" alt=\"\" class=\"wp-image-23640\" \/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Transportation is maybe\nthe most widely discussed area in which AI is expected to change radically.\nSelf-driving vehicles have been envisioned for many years, with some vehicles\nalready being tested on the streets. Self-driving trucks are <a href=\"https:\/\/techcrunch.com\/2019\/06\/07\/on-the-road-to-self-driving-trucks-starsky-robotics-built-a-traditional-trucking-business\/\" target=\"_blank\" rel=\"noopener\">already out on the road<\/a>, transporting goods without the help of a\nhuman driver.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AI\u2019s place in transportation extends further than on the road. Some companies are exploring the idea of <a href=\"https:\/\/www.engadget.com\/2017\/06\/09\/self-navigating-cargo-ships-ai-plot-course\/\" target=\"_blank\" rel=\"noopener\">self-navigating cargo ships<\/a>, which could come into the picture as early as 2025. AI will help determine the safest, shortest routes, and steer ships accordingly.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Finance<\/h4>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/www.goandgrow.eu\/blog\/wp-content\/uploads\/image-4.png\" alt=\"\" class=\"wp-image-23643\" \/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Moving money from one place to another might not evoke thoughts of AI, but such transactions are largely influenced by automated, self-learning algorithms and processes.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AI helps <a href=\"https:\/\/datafloq.com\/read\/how-ai-has-helped-finance-field-overcome-fraud\/5848\" target=\"_blank\" rel=\"noopener\">predict fraud<\/a> before it happens through the use of\nmachine learning. Machine learning allows AI to compile and analyze large\namounts of data at much faster rates than humans. By tracking financial\ninformation, AI can learn the spending habits and patterns of a consumer and\nidentifying transactions which do not fit the patterns and could potentially be\nfraudulent.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It is also believed that AI is better than humans at providing a risk assessment to potential borrowers. Not only that, the AI assessing borrowers does not have the ingrained racial, gender, or age biases that accompany a human\u2019s decision when it comes to assessing another individual. Allowing AI to assist in credit decision-making is not only more accurate and less biased, but it is also cheaper and faster than ever before. Today, you can submit a loan application and receive a response in <a href=\"https:\/\/www.bondora.ee\/\" target=\"_blank\" rel=\"noopener\">as fast as 60 seconds<\/a>.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The Role of Ethics in AI<strong><\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">It is all well and good that AI can optimize processes in ways human beings cannot. Yet, the role of AI in society will stir up questions that society is not yet ready to answer. This makes ethics huge in determining how to handle the repercussions of a society moving more and more toward AI in all areas of life.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">A Jobless Society<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">If AI will eventually be\nable to do most human tasks more efficiently than humans themselves, what will\nhappen to jobs? This question is one that concerns people for the future, as\nrobots and AI are already eliminating jobs in industries like manufacturing and\nproduction.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An <a href=\"https:\/\/www.nber.org\/papers\/w24174\" target=\"_blank\" rel=\"noopener\">economic research paper<\/a> written by economists at Columbia and Johns Hopkins describes that even though automation has been prevalent throughout history, \u201cpast episodes of automation left large areas of work that could only be performed by humans.\u201d However, the problem with current AI is that \u201cas artificial intelligence draws closer and closer to human general intelligence, much of human labor runs the risk of becoming obsolete and being replaced by AI in all domains.\u201d Jobs that were once thought of as extremely secure and having good long-term prospects, like that of a truck driver, are now <a href=\"https:\/\/www.atbs.com\/knowledge-hub\/trucking-blog\/self-driving-trucks-are-truck-drivers-out-of-a-jo\" target=\"_blank\" rel=\"noopener\">at the risk of a complete AI takeover<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.goandgrow.eu\/blog\/wp-content\/uploads\/11111-819x1024.jpg\" alt=\"\" class=\"wp-image-23646\" width=\"410\" height=\"512\" \/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">The prospect of fewer and fewer jobs due to automation and AI have led many to propose out-of-the-box ideas to redistribute wealth in society. One of the most widely talked about income distribution ideas is that of universal basic income (UBI). Finland tested UBI by providing \u20ac560 per month to 2,000 unemployed people in the country. Results of this trial <a href=\"https:\/\/www.technologyreview.com\/f\/612927\/finlands-universal-basic-income-trial-made-people-happier-but-not-employed\/\" target=\"_blank\" rel=\"noopener\">were mixed<\/a>, as people receiving UBI were not able to gain employment any easier, but did report higher levels of happiness. Recently, United States Democratic Presidential candidate Andrew Yang has come out as a huge supporter of the idea, claiming he would implement UBI if elected president.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Removing Human Bias<strong><\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">As human beings, we have\na propensity toward biases. Things like race, religion, and age are all things\nthat human beings unconsciously weigh when looking at one another. The idea is\nthat the implementation of AI would remove such biases from decision making.\nUnfortunately, this hypothesis has not necessarily proven to be true.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It turns out that AI can\nbe just as biased as humans. A recent paper commissioned by the Council of\nEurope titled, \u201c<a href=\"https:\/\/rm.coe.int\/discrimination-artificial-intelligence-and-algorithmic-decision-making\/1680925d73\" target=\"_blank\" rel=\"noopener\">Discrimination, Artificial Intelligence and Algorithmic\nDecision-Making<\/a>\u201d,\nshows how AI can perpetuate human biases. This is because AI itself is largely\ninfluenced by the humans who create and manipulate the technology. According to\nthe paper, \u201cAI advances important goals, such as efficiency, health and\neconomic growth but it can also have discriminatory effects, for instance when\nAI systems learn from biased human decisions.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But AI could also take discrimination one step further and create new forms of discrimination which humans have not yet even imagined. As the paper notes, \u201cAI also opens the way for new types of unfair differentiation (some might say discrimination) that escape current laws. Most non-discrimination statutes apply only to discrimination on the basis of protected characteristics, such as skin color. Such statutes do not apply if an AI system invents new classes, which do not correlate with protected characteristics, to differentiate between people.\u201d<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Security Risks<strong><\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Imagine a driverless\ntruck crashes into an unsuspecting motorist on the freeway. Who is to blame? Is\nit the engineers who developed the truck\u2019s AI? The manufacturer for designing\nthe truck incorrectly? Someone else? It is an inevitability that there will be\nmistakes made by AI in the future, and it is not so easy to handle such\nproblems.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There have already been\ninstances where this has played out. Last year, a self-driving Uber car <a href=\"https:\/\/www.nytimes.com\/2018\/03\/19\/technology\/uber-driverless-fatality.html\" target=\"_blank\" rel=\"noopener\">hit a pedestrian<\/a>, killing the woman instantly. Some blame\nthe technology for failing to avoid the pedestrian, while others blamed the man\nin the driver&#8217;s seat who was watching videos on his iPad at the time of the\naccident. Because there is no precedent for this type of catastrophe, it is\ndifficult to know how to&nbsp;assign out the blame appropriately.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AI also presents a security threat if used in malicious ways. The technology could be used to create new types of <a href=\"https:\/\/money.cnn.com\/2018\/02\/21\/technology\/malicious-artificial-intelligence-use-warning-cambridge\/index.html\" target=\"_blank\" rel=\"noopener\">cyber-weapons<\/a> used to attack drones and other smart devices, wreaking havoc on entire networks. AI was already used to <a href=\"https:\/\/fortune.com\/2019\/02\/16\/openai-fake-news-articles-ai\/\" target=\"_blank\" rel=\"noopener\">promote fake news and propaganda<\/a> in political elections, creating fake audio and video clips generated with the help of AI.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.goandgrow.eu\/blog\/wp-content\/uploads\/22222-1024x683.jpg\" alt=\"\" class=\"wp-image-23649\" width=\"512\" height=\"342\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Keeping Ethics at the Forefront<strong><\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The world is moving\ntoward the ubiquitous use of AI in all areas of life. AI will influence not\nonly how you get transported from one place to another, but your financial\nlife, work environment, and so much more. With this being the case, it becomes\nmore important for the global society to place a standard of ethics on AI in\nhopes of creating standards for this new technology.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Answering the question\nof what to do when AI creates massive unemployment, or how to handle an AI\ncatastrophe, should be considered before any further steps are taken with the\ndevelopment of this technology. If not the world could look eerily similar to <a href=\"https:\/\/www.newyorker.com\/news\/daily-comment\/1984-at-seventy-why-we-still-read-orwells-book-of-prophecy\" target=\"_blank\" rel=\"noopener\">sci-fi thrillers like 1984<\/a> in the near future.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the 21st century, technology has moved at lightning speed. New innovations have, in many ways, created a better and more efficient world. One of the most talked about areas of technological advancement is artificial intelligence, where human nature merges with technological genius. The use of artificial intelligence is already playing a role in daily [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[119],"tags":[],"class_list":["post-23630","post","type-post","status-publish","format-standard","hentry","category-financial-well-being"],"acf":[],"featured_image":null,"categories_names":["Financial Well-being"],"category_name":"Financial Well-being","_links":{"self":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts\/23630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/comments?post=23630"}],"version-history":[{"count":0,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/posts\/23630\/revisions"}],"wp:attachment":[{"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/media?parent=23630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/categories?post=23630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goandgrow.eu\/en\/wp-json\/wp\/v2\/tags?post=23630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}