Mahusay - G-Ai Module 3

Name: Mahusay, Jeth A.
Date: November 2020
Year: BSA-3 Instructor: Mr. Neil Churchill Aninon, CPA
Subject: Artificial Intelligence
Module 3
Major Output
Introduction
Artificial intelligence (AI) is all around us. We are likely used it on our daily
doings or everyday life, searching the web or checking our latest social
media feed. Whether we are aware of it or not, AI has a massive effect on
our life, as well as in our business world. Furthermore, businesses are now
increasingly looking for ways to put artificial intelligence (AI) technologies to
work to improve their productivity, profitability and business results.
However, while there are many business benefits of artificial intelligence,
there are also certain barriers and disadvantages to keep in mind in which it
can affect also in the business.
Moreover, the disadvantages or problems that will occur of using artificial
intelligence in our society are Job Loss and Wealth Inequality in which it is
one of the primary concerns that people have with AI is future loss of jobs.
Should we strive to fully develop and integrate AI into society if it means
many people will lose their jobs — and quite possibly their livelihood?
According to the new McKinsey Global Institute report, by the year 2030,
about 800 million people will lose their jobs to AI-driven robots. Some would
argue that if their jobs are taken by robots, perhaps they are too menial for
humans and that AI can be responsible for creating better jobs that take
advantage of unique human ability involving higher cognitive functions,
analysis and synthesis. Another point is that AI may create more jobs —
after all, people will be tasked with creating these robots to begin with and
then manage them in the future. One issue related to job loss is wealth
inequality. Consider that most modern economic systems require workers to
produce a product or service with their compensation based on an hourly
wage. The company pays wages, taxes and other expenses, with left-over
profits often being injected back into production, training and/or creating
more business to further increase profits.
This mini research aims to procure the problems that will occur in using
artificial intelligence. In order for us to be aware of and well informed if it
will be happened since artificial intelligence nowadays are very rampant in
our modern society.

Review of the literature
According to Brett A K, Hammond T and Harrington J, (2017). We examine
the possible economic impact of lost wages and tax revenues that artificial
intelligence and machine learning could have in the within the next couple of
decades. Using a probability-weighted methodology, provide decile-grouped
estimates for the possible monetary implications of significant job losses due
to this disruptive technological revolution. Furthermore, we examine the
implied tax revenue losses associated with the displacement of the
employees in these occupations. Our results suggest that within a few
decades the economic impact may very well be in the hundreds of billions in
lost wages and hundreds of millions in lost tax revenue.
As what said by Osoba, O. A., & Welser, W. (2017). Information teams see
their core deliverables as content management, training on information-
related databases, and research and analysis. Information teams in banking
and financial organizations indicate they feel they impact business decisions
in their organizations more directly than information teams in other sectors.
AI is rapidly impacting the information profession: AI projects described by
information teams range from pilot to fully-implemented. Data quality, and
trust and confidence in data, are concerns for information professionals;
survey participants are clear that the ability to ensure data is of highest
quality and integrity is a critical skill for information professionals.
Information professionals foresee that new technical and AI solutions will
mainly require the enhancement of current skills, rather than the acquisition
of new ones. Information professionals see research analysis developing
further to include providing implications and deductions; and this will require
more confidence. As new technological solutions, such as AI and machine
learning are introduced then there will be an increased importance of digital
and information literacy
According to Brubaker, K. (2018). The Artificial Intelligence (AI) is a
technology that has made large advancements in the past few years.
Consumers are purchasing AI devices to add convince into daily living.
Privacy issues that come along with these are often not considered by
average consumers. These devices lead to several security challenges for
consumers, industries, and developers. Industries looking to adopt AI into
business operations need to consider ethical concerns that may occur. The
automotive industry is one example where consumers take issue with AI
controlling and driving a vehicle. AI has shown promising outcomes in
various fields. Automation can save companies money, time, and reduce the
amount of safety mishaps. The medical industry has seen advancements
using AI in disease detection. Early detection is the best way to treat or stop
diseases from spreading. AI has also shown positive results in teaching kids
with autism spectrum disorder (ASD) and assisted living. Long term studies
on the effectiveness of the AI technology are currently ongoing. Due to the
technology being new, there have been multiple incidents where AI has
miscalculated. Currently engineers and developers that create AI systems do
not know the exact process and routes AI uses to come to determine an
outcome. Businesses that hope to become early adopters of AI risk
undesirable outcomes without a way to correct the AI.
The sources I’ve gathered unveiled different problems that will happened in
our society in using the artificial intelligence in which it gives us more
knowledge and be aware of what will happened soon.
Discussion
As Artificial intelligence grows more sophisticated and ubiquitous, the voices
warning against its current and future pitfalls grow louder. We lose more and
more human skills or job loss and wealth inequality due to the use of
computers or the artificial intelligence. Furthermore, our economy are also
affected in which business income and employee are paying taxes however,
in using artificial intelligence robots do not get paid hourly nor do they pay
taxes. They can contribute at a level of 100% with low ongoing cost to keep
them operable and useful. This opens the door for CEOs and stakeholders to
keep more company profits generated by their AI workforce, leading to
greater wealth inequality. Perhaps this could lead to a case of “the rich”
those individuals and companies who have the means to pay for AIs are
getting richer. Moreover, we all know that how important taxes are into our
economy it is the lifeblood of our government in which it is the source of
everything in spending or doing some projects for having us a high quality of
service and materials to be used. And there’s a lot of people who will
suffered poverty in this situation in which there’s a lot of people who are
unemployed and it is the reason why we can see troubles or chaos
everywhere.
Conclusion
Artificial Intelligence (AI) will be the most disruptive technology over the
next decade. The quality of this technology has improved considerably in a
number of areas in recent years, with all the consequences this entails. AI
systems gain an ever better understanding of who we are, what we do, what
we want and why we want it. A world full of opportunities opens up. Chat
bots, smart virtual assistants and autonomous intelligence software
assistants will increasingly come to our aid. AI systems will bring us
prosperity, time savings, convenience, insights and comfort.
Thus, Artificial Intelligence has a massive effect on our life, yes! It has a
good impact to us individual but in a business world it has an advantages
and disadvantages in different aspects that to keep in mind.

Sources:
 Brett A K, Hammond T, Harrington J, (2017). Disruptive technology:
Economic consequences of artificial intelligence and the robotics
revolution
 Osoba, O. A., & Welser, W. (2017). The risks of artificial intelligence to
security and the future of work.
 Brubaker, K. (2018). Artificial intelligence: Issues of consumer privacy,
industry risks, and ethical concerns (Doctoral dissertation, Utica
College).
 Duursma, J. (2017). Risks of artificial intelligence
 Havens, C. J. Artificial Intelligence: Embracing Humanity and
Maximizing Machines, calls bull on the theory that AI will create as
many or more jobs than it replaces.
 Hawking, S. and Musk, E. Risks Artificial Intelligence
 Thomas, M. (2019). DANGEROUS RISKS OF ARTIFICIAL
INTELLIGENCE

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Name: Mahusay, Jeth A.

Date: November 2020

Year: BSA-3 Instructor: Mr. Neil Churchill Aninon, CPA

Subject: Artificial Intelligence

media feed. Whether we are aware of it or not, AI has a massive effect on

increasingly looking for ways to put artificial intelligence (AI) technologies to

work to improve their productivity, profitability and business results.

However, while there are many business benefits of artificial intelligence,

can affect also in the business.

Moreover, the disadvantages or problems that will occur of using artificial

Should we strive to fully develop and integrate AI into society if it means

advantage of unique human ability involving higher cognitive functions,

inequality. Consider that most modern economic systems require workers to

produce a product or service with their compensation based on an hourly

more business to further increase profits.

artificial intelligence. In order for us to be aware of and well informed if it

will be happened since artificial intelligence nowadays are very rampant in

our modern society.

According to Brett A K, Hammond T and Harrington J, (2017). We examine

decades. Using a probability-weighted methodology, provide decile-grouped

to this disruptive technological revolution. Furthermore, we examine the

implied tax revenue losses associated with the displacement of the

employees in these occupations. Our results suggest that within a few

lost wages and hundreds of millions in lost tax revenue.

their core deliverables as content management, training on information-

related databases, and research and analysis. Information teams in banking

in their organizations more directly than information teams in other sectors.

AI is rapidly impacting the information profession: AI projects described by

information teams range from pilot to fully-implemented. Data quality, and

trust and confidence in data, are concerns for information professionals;

Information professionals foresee that new technical and AI solutions will

of new ones. Information professionals see research analysis developing

more confidence. As new technological solutions, such as AI and machine

learning are introduced then there will be an increased importance of digital

and information literacy

According to Brubaker, K. (2018). The Artificial Intelligence (AI) is a

Consumers are purchasing AI devices to add convince into daily living.

average consumers. These devices lead to several security challenges for

consumers, industries, and developers. Industries looking to adopt AI into

automotive industry is one example where consumers take issue with AI

controlling and driving a vehicle. AI has shown promising outcomes in

amount of safety mishaps. The medical industry has seen advancements

on the effectiveness of the AI technology are currently ongoing. Due to the

miscalculated. Currently engineers and developers that create AI systems do

outcome. Businesses that hope to become early adopters of AI risk

undesirable outcomes without a way to correct the AI.

our society in using the artificial intelligence in which it gives us more

knowledge and be aware of what will happened soon.

As Artificial intelligence grows more sophisticated and ubiquitous, the voices

computers or the artificial intelligence. Furthermore, our economy are also

keep more company profits generated by their AI workforce, leading to

economy it is the lifeblood of our government in which it is the source of

everything in spending or doing some projects for having us a high quality of

unemployed and it is the reason why we can see troubles or chaos

next decade. The quality of this technology has improved considerably in a

bots, smart virtual assistants and autonomous intelligence software

assistants will increasingly come to our aid. AI systems will bring us

prosperity, time savings, convenience, insights and comfort.