Please agree/disagree and add more information regarding the below message (from a management perspective). "AI and machine learning have helped us come an extremely long way, especially in the business world. Because of AI, there has been huge improvement in areas such as the speed of business, customer service, reduction of error, and many other things that have improved the business setting. Today, AI has become so important that many businesses would fail without it. However, something that concerns me in regards to AI is the power that it has. In many instances, AI is a cheap form of labor. In the long run, paying a one time price for machines that will cut and create a business' clothing is much cheaper than paying laborers by the hour to do the same exact tasks. As a result, consumers would pay less for these goods, as the costs of production would be much lower. Besides laborers, AI also puts other workers in a position to be taken over within due time. Even now, we see customer service related chat boxes that pop up on websites. Majority of the time, especially when dealing with corporations, there are not people responding to us- they are robots. Programmed to deliver specific answers relating to key words that algorithms highlight, AI has not only the power to substitute for our physical work, but our brain power as well. This is a scary concept to think about, especially because in the next few decades we are going to witness even more insane advancements in technology that are unthinkable at this moment in time."

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Please agree/disagree and add more information regarding the below message (from a management perspective).

"AI and machine learning have helped us come an extremely long way, especially in the business world. Because of AI, there has been huge improvement in areas such as the speed of business, customer service, reduction of error, and many other things that have improved the business setting. Today, AI has become so important that many businesses would fail without it. However, something that concerns me in regards to AI is the power that it has. In many instances, AI is a cheap form of labor. In the long run, paying a one time price for machines that will cut and create a business' clothing is much cheaper than paying laborers by the hour to do the same exact tasks. As a result, consumers would pay less for these goods, as the costs of production would be much lower. Besides laborers, AI also puts other workers in a position to be taken over within due time. Even now, we see customer service related chat boxes that pop up on websites. Majority of the time, especially when dealing with corporations, there are not people responding to us- they are robots. Programmed to deliver specific answers relating to key words that algorithms highlight, AI has not only the power to substitute for our physical work, but our brain power as well. This is a scary concept to think about, especially because in the next few decades we are going to witness even more insane advancements in technology that are unthinkable at this moment in time."

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