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Exponential Growth of Technology and the Impact on Economic Jobs and Teachings: Change by Assimilation

Journal of Applied Business and Economics

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Title Exponential Growth of Technology and the Impact on Economic Jobs and Teachings: Change by Assimilation
 
Creator Cassard, Anita
Hamel, Joseph
 
Description Today’s computer programs, AI, and Robotics, are vastly superior, faster, more accurate, and some people would argue, easier to deal with than most economists, statisticians, and the currently used economic models. If that is the case, what are we to do, and what are the options? There are many. This paper will provide research information on what is working or not, has changed, and what other options might lurk in the future for this holy grail of science. The literature shows that Artificial Intelligence offers a way to amplify and go beyond the current capacity of capital and labor to drive economic growth. UMO is just one of the examples showing what a hive mentality can achieve and how accurate and predictable the outcome can be. We will discuss how to suspend assumptions and why we ought to stay open to different ideas. Organizations such as Accenture research report on the impact of AI in 12 developed economies, stating it “reveals that AI could double annual economic growth rates in 2035 by changing the nature of work and creating a new relationship between man and machine.”
 
Publisher North American Business Press
 
Date 2018-07-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
 
Format application/pdf
 
Identifier https://articlegateway.com/index.php/JABE/article/view/328
10.33423/jabe.v20i2.328
 
Source Journal of Applied Business and Economics; Vol 20 No 2 (2018)
1499-691X
10.33423/jabe.v20i2
 
Language eng
 
Relation https://articlegateway.com/index.php/JABE/article/view/328/289
 
Rights Copyright (c) 2018 Journal of Applied Business and Economics