Homework SourseSection C Please state how will the 4th industry revolution
Solution
Artificial Intelligence or AI is basically a computational model which has a capacity to work and assosiate themselves with human activities like thinking, learning, decision making, problem solving etc. AI is capable of challenging human mind, it can defeat any big chess player around the world by learning there moves and implementing the tactics each and every time, thus with the help of AI current international business environment can be changed or to be precise can be predicted with the help of this,
Economic point of view several american banks are using AI for the purpose of fraud detection, banking applications, Non banking financial corporations using AI for the purpose of alogorithm trading, market surveying, investment making etc. thus it has both positive and negative impact, positive at the governments security point of view, and negative with respect to general peoples trade.
In an Industrial economy AI can act as a boon as no human is capable of whats robots are, that is zero defect, marginalised resource wastage, high quality and precision making, thus high production is possible with the implementation point of view, but on the other hand it can create unemployement at the basic level, for maintaining such AI based robots highly skilled workers will be required for which more pressure will be exerted on the current educational system.
Thus, at last a proper legislation, international treaty is required in the implementation and the development of the AI\'s, because it is capable of modifying the trade directions, balance of payments if implemented on large levels, which can distruct the economy of several developing and underdeveloped nations of Africa, Latin America and Asia.
