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Do we need to afraid of AI (Artificial Intelligence) ?

Automation can be stated as “the use of a computer to control the process of operation.”

Industrial Revolution has always created jobs for humankind. The steam engine is a product of the first Industrial revolution added strength to humans muscles. In a similar way, the A.I as a result of the 4th Industrial revolution will add strength to mental power.

see all ARTIFICIAL INTELLIGENCE – WHAT IT IS AND WHY IT MATTERS

Advantages of Artificial Intelligence

  1. It increases the efficiency of work.
  2. It increases the throughput of work (i.e. time taken to complete a job).
  3. Robots will be performing more complex tasks like surgical operations.
  4. They (robots) will be helping human beings and as a result,the efficiency of work will increase.

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Disadvantages

  1. Security risks of hacking
  2. Unemployment as robots is being employed in restaurants as managers, customs officers, etc.
  3. Can be misused by the terror organization
  4. As any operating error will be multiplied and will lead to system failure.

In the case of India to boost the contribution of the manufacturing sector in the G.D.P from 16% to 25% new technology should be adopted. At the same time according to the World Bank report, it will cause a threat to 69% of jobs in India.

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So nothing can be predicted in the short run but by adopting better policies, regulating measures and good governance it will prove to be beneficial.

NABARD 2019

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