Download or read book How Robot Replaces Future Labour Market written by Johnny Ch Lok and published by . This book was released on 2021-02-09 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Relationship between (AI) and economy growth⦁How can artificial intelligence technology influence economy?Advances in artificial intelligence (AI) technology and related fields have opened up new markets and new opportunities progress in critical areas, such as health, education, energy, economic development, social welfare and the environment pollution.(AI) automation will continue to create wealth and expand the global economy development in the future. However, when many will benefits that growth won't be costless and will be accompanied by changes in the skills, that workers need to increase productivity in the economy and structural changes in the economy. So, in the skills that workers need to succeed in the economy and structural changes. I shall indicate why aggressive policy action will be needed to help Americans who are disadvantaged by these changes, due to (AI) technology is caused. For automation industry change example, artificial intelligence (AI) capabilities will enable automation of some tasks that have long required human labor. These artificial intelligence technology introduction can increase new opportunities for individuals. The economy and society, but (AI) has also the potential to disrupt be current livelihoods of many Americans. However, (AI) leads to unemployment and increase in inequality over the long run depends not only on the (AI) technology itself, but also on the institutions and policies that are changed. Thus, it is possible that (AI) technology will raise some countries unemployment number if the employer apply (AI) technology workers to work instead of human labor in their factories, but it can also raise productivities for these employers.⦁Can (AI) influence global economy growth?Technological progress is main driver of growth of GDP per capita, allowing output to increase faster than labor and capital . However, technology can increase productivity, but also decrease the number of labor hours needed to create a unit of output. So (AI) causes unequal to labor wage decreases, even reduces the number of labor to manufacture, e.g. artificial intelligence technology of automation car manufacturing industry; clothing manufacturing industry; plane manufacturing etc. high technology of artificial intelligence manufacturing method. But (AI) should be potential environment benefit, although it raises unemployment ratio. Moreover, it can rise production, due to many skilled craft were replaced by the combination of machines and lower-skilled labor. The result of (AI) technology introduction, it causes output per hour risen when inequality declined, driving up average living standards, but the labor of some high-skill workers was no longer as valuable in the market. Otherwise, if (AI) technology is continue developed to be success. Some routine intensive occupations will be loss, which focused on predictable, e.g. easily programmable tasks, such as switchboard operators, filing clerks, travel agents, and assembly line workers would be particularly replaced by new (AI) technology. However, at the same time, (AI) technology development will bring these benefits: improvement in education ( training (AI) technology scientists), due to (AI) manufacturing technology needs are raising to businesses and institutional changes, such as the reduction in unionization and raising in the minimum wage to the (AI) manufacturing technology skilled labor in factories.Because (AI) technology is not a single technology, but rather a collection of technologies that are applied to specific tasks, the effects of (AI) will be felt unevenly though the economy. It will bring some tasks will be most easily automated than others, and some jobs will be affected more than others, both negatively and positively.