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Tylique Antoine EDPM Assignment 2

The report discusses the transformative impact of Artificial Intelligence (AI) on society, highlighting its ability to enhance efficiency, accuracy, and innovation across various sectors. While AI offers significant benefits, such as increased productivity and cost-effectiveness, it also poses challenges including job displacement, bias, and privacy concerns. The document emphasizes the importance of reskilling and ethical practices to harness AI's potential while addressing its associated risks.

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17 views

Tylique Antoine EDPM Assignment 2

The report discusses the transformative impact of Artificial Intelligence (AI) on society, highlighting its ability to enhance efficiency, accuracy, and innovation across various sectors. While AI offers significant benefits, such as increased productivity and cost-effectiveness, it also poses challenges including job displacement, bias, and privacy concerns. The document emphasizes the importance of reskilling and ethical practices to harness AI's potential while addressing its associated risks.

Uploaded by

tyliqueantoine
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Presentation Brothers College

Ty’lique Antoine
EDPM
Assignment 2
Artificial Intelligence: A Research Report
Artificial Intelligence
Artificial Intelligence, or AI, is changing how we live, work, and manage economies today.
It's the skill of making machines that can think and help people in different ways.
From handling boring tasks to creating self-driving cars, AI is changing the world we know.
It will make life easier, increase productivity, and even fix tough problems. Understanding its
importance requires one to delve into what AI is, its pros and cons, its consequences on the job
market, and important facts showing its advancement. Understanding AI is very imperative as
we go into a more advanced and technology-driven future, since it will greatly shape how we
live and interact with the world.

Artificial Intelligence is the science of performing tasks that normally require human thinking. It
focuses on building computer systems that can carry out tasks typically done by humans. AI uses
many skills, such as machine learning, natural language processing, robotics, and computer
vision. These abilities allow AI to analyze data, learn from it, and make decisions effectively.

What are the Pros and Cons of Artificial Intelligence:

Pros of AI:

1. Efficiency and Productivity:


AI takes care of routine tasks to free human workers for more crucial tasks. For
example, factories use AI to monitor quality and speed, thereby reducing lost time.
2. Accuracy and Precision:
AI, in fields such as healthcare, makes diagnosis more accurate. For instance,
AI programs scrutinize medical images to locate diseases like cancer better than old
methods can.
3. Cost-Effectiveness in the Long Run:
Although the initial investment in AI is generally high, it saves businesses from long-term
operational costs. Automated systems minimize errors and require fewer human
interventions.

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4. Round-the-Clock Operation:
Unlike humans, AI systems do not need rest or vacations, so businesses can run day and
night. For example, chatbots provide 24/7 customer support.

Cons of AI:

1. Job Displacement and Economic Disparities:


Automation of tasks can lead to unemployment in sectors like manufacturing, data entry,
and retail, disproportionately affecting low-skill workers.

2. Bias in Decision-Making:
AI systems may perpetuate biases present in the data they are trained on. For instance, AI
used in hiring processes has shown bias against certain demographic groups based on
historical data.

3. Privacy Concerns:
AI-powered surveillance tools and data collection raise ethical questions about privacy
and misuse of information.

4. High Initial Costs:


Developing AI systems requires substantial investments in infrastructure, research, and
maintenance, which may not be feasible for smaller businesses.

How does Artificial Intelligence Impact the Job Market?

Artificial Intelligence has a positive effect on the job market by creating opportunities in
emerging fields and improving efficiency in the workplace. For example, it allowed the
development of professions like machine learning engineers, data scientists, and AI ethicists,
which require specialized skills and training. Similarly, it would smoothen the workflow in
agriculture and logistics, where predictive analytics helps farmers optimize crop yields and AI-
powered tools enhance supply chain management. By automating repetitive tasks, AI allows
professionals to focus on creative problem-solving and innovation, fostering a more productive
workforce.

On the other hand, AI presents challenges in job displacement and reskilling. Many roles, such as
data entry clerks and factory workers, are at risk of being replaced by automation, which could

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lead to economic instability in certain sectors. Further, with AI transforming industries, workers
will have to acquire new skills to be competitive, which may be hard to do without access to
adequate retraining programs. The World Economic Forum states that by 2025, AI will displace
85 million jobs, thus workforce adaptation is necessary to minimize disruption and maximize the
potential benefits that AI can bring.

A report from the World Economic Forum in 2022 stated that by the year 2025, AI technologies
will displace 85 million jobs. On the other hand, it would create 97 million new roles, making
reskilling and education very important for adaptation to the changing job landscape.

In the final analysis, Artificial Intelligence has been a transformable force in reshaping
industries, economies, and societies. It enhances efficiency, accuracy, and innovation in fields
such as healthcare, transportation, and entertainment. AI has vast potential in changing how we
work and live, contributing much to the rise of the global economy and technological progress.

But with these benefits come challenges: job displacement, ethical concerns, and privacy issues
that need to be addressed for the responsible use of AI. As we journey toward an AI-driven
future, it is clear that a balance has to be found between innovation and accountability. It is only
through the collaborative efforts of governments, businesses, and individuals that ethical
practices can be fostered, workforce reskilling supported, and inclusive policies created—that
would reduce inequalities. If we tackle these challenges, we can really tap into AI's full potential
to boost sustainable development and make life better for future generations.

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