Executive Summary
Digital revolution is exponentially accelerating the productivity of various outcomes in the society and also transforming the employment and economy of the world. In recent times, innovation in technology is inadvertently becoming the cause for chronic unemployment which in turn is drastically affecting the median household income. This book discusses such trends and outcomes in general and offers solutions to the problems faced by present and future generation of workers. Erik Brynjolfsson and Andrew McAfee have discussed effects of machines on wealth distribution, economy and employment in a crisp, strong and insightful way.
Key Terminology
1) General Purpose Technologies (GPT): A small group of technological innovations so powerful that they interrupt and accelerate the normal march of economic progress. (Erik Brynjolfsson, 2011)
2) Digitization: An ongoing process of creative destruction innovators use both new and established technologies to make deep changes at the level of the task, the job, the process, even the organization itself. (Erik Brynjolfsson, 2011)
3) Skill-biased technical change (SBTC): The rise in wage inequality in the U.S. labor market is usually attributed to skill-biased technical change, associated with the development of personal computers and related information technologies. (David Card, 2002)
4) Micromultinationals: Businesses with less than a dozen employees that sell to customers worldwide and often draw on worldwide supplier and partner networks
5) Moor’s Law: The number of transistors incorporated in a chip will approximately double every 24 months. (Moore, 1965)
Further Resources
The science behind humanlike robots is advancing. They are becoming more smart, mobile and autonom...
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...ividuals and systems should be developed to encourage innovation in a flexible way with few legal restrictions. Government and investors should work towards improving the infrastructure of the nation by providing facilities and platforms making it simple for any individual to innovate.
References
Bar-Cohen, Y. (2009). The coming robot revolution expectations and fears about emerging intelligent, humanlike machines. Springer.
David Card, J. E. (2002). Skill Biased Technological Change and Rising Wage Inequality: Some Problems and Puzzles.
Erik Brynjolfsson, A. M. (2011). Race Against The Machine.
Lin, N. G. (2012). Robot Ethics : The Ethical and Social Implications of Robotics. Cambridge, MA, USA: MIT Press.
Moore, G. (1965). Moore's Law and Intel Innovation. Retrieved from Intel.com: http://www.intel.com/content/www/us/en/history/museum-gordon-moore-law.html
...nd again resulting in creation of bigger markets and pulling large competitors and creating new job opportunities, but the problem is with undefined factors like outsourcing, lack of skill development in respect with technology advancement. Technology advancement may be causing huge impact on employment but it is also making human living better. Technology as became part and parcel of our life so we can’t think of life without technology, but to make sure that the same does not harm our livelihood we should keep in track and sharpen and hone our skills with advancement of technology. (Brynjolfsson & McAfee, 2011)
Because of technology which is defined as the organization of ideas for practical use, people are able to invent and produce machines that have made work less tedious. Twenty years ago, people use their hands to make coffee. But now, coffee machines are everywhere. Similarly, communication through mobile devices has replaced letter writing. In the fast-paced world, humankind continues to find ways in which they can perform simple tasks in just a snap. By the next fifty years, it will not be impossible to invent machines that would have a mind of their own. In fact, robots that can perform various tasks are already existing at the present.
Artificial intelligence has come a long way since the first robot. In 1950, Alan Turing of Britain publishes, Computer Machinery and Intelligence. This book was proposed to be the birth of artificial intelligence as we know it. The first robot that presents the usage of artificial intelligence was built in 1969. The purpose of this robot was to try out navigation using basic tools such as cameras and bump sensors (Marshall 371). Since then, we have made a million robots way better than this one and we’re going to continue doing so. While the world advances, so is technology. It’s slowly progressing and become better and more reliable. Artificial intelligence is a certain type of technology that is resourceful to our nation. We are using it in the medical field, it’s been helpful to military forces, and it’s helping our world become a better place.
Over the course of history, technology has had many advancements that human beings thought they would never be able to witness in their lifetimes. Today, many people never thought they would live to see the creation of robots. However, forms
Brooks, Rodney A. "1. Dances With Machines." Flesh And Machines: How Ro-bots Will Change Us. 1st ed. New York: Pantheon Books, 2002.
Warwick, Kevin. "March of the Machines" The Department of Cybernetics. Internet. Microsoft Internet Explorer. 19 April 1999 Available FTP:http://www.cyber.reading.ac.uk/cybernetics/robots/
As our research into science and technology ever increases its seems inevitable that in the near future Artificial Intelligent machines will exist and become part of our everyday life such as we see with modern computers today.
Nowadays, technology is a dominant feature in the lives of people around the world. Most of daily life activities involve the use of technology which is expanding every day through scientific innovations. However, such innovations do not always occur in every part of the world, but mostly in technologically developed countries, such as South Korea, the USA and Japan. Presently, the development of robotics science has become a subject of considerable attention in those countries. According to Weng, Chen and Sun (2009, 267), “Technocrats from many developed countries, especially Japan and South Korea, are preparing for the human–robot co-existence society that they believe will emerge by 2030.” The word “robot” was introduced in the beginning of 1920th by the Czech playwright Karel Capek from the Czech word “robota”, meaning “forced labor” (Robertson 2007, 373). According to Robertson (2007, 373), robot, in practical usage, can be defined as an autonomous or semiautonomous device that is used to perform its tasks either controlled by human, fractionally controlled and with human guidance or regardless of external actions that are performed by people. Regrettably, the majority of robots in the past centuries could not operate without human control and intervention. However, the progress in robotics over the past few decades enabled humanity to achieve soaring results in creation of autonomous humanoid robots.
One constant that dominates the landscape of science fiction is that when computers become self aware, they eventually destroy their creators. From 2001: A Space Odyssey to films like the Terminator, Robocop, and the Matrix the message is clear: any self aware machine is better unplugged. As a species we are nearing the horizon when artificial intelligence becomes a vibrant part of everyday life. According to tech entrepreneur Bill Gates, robotics has advanced tenfold in the first fifteen years of the twenty-first century (Holley, 1). Technology has advanced so rapidly that within the next fifteen years we will likely have to answer the growing moral dilemma that artificial intelligence has placed on society as a whole. It is estimated by Gates
... major hurdles in the field right now, but when they are jumped over, the sky is the limit. Robots are starting to emulate humankind the best that they can, and soon, they will be like humans, with the ability to think, and the ability to decide. That world will come soon, but now, we can only wait and try our best.
The number of robots used in industry increases every year as more companies realize their many benefits. Robots are the future of the manufacturing industry. As the performance and flexibility of robots increases and their prices continue to drop, many companies will uses these added incentives to invest in the future. Soon every company that has an application for a robot will be forced to invest in one, to stay competitive in the world market.
Ever since the Industrial Revolution (1780s), the impact of technology has been subject to public debate over its effect on employment – does it cause unemployment or does it underlie the huge increases in standards of living (Jones 1996, p.11)? While it is difficult to ascertain the relationship between technology and employment, all that can be said with any certainty is that technological advancement has the capacity to create revolutionary economic and social changes (Jones 1996, p.21). In order to provide a clear analysis of the impact of technology on employment, we need to take into account the consequences of technological transitions and seek to relate these to social, economic, political, and cultural factors occurring at the time.
Robotics is a branch of physics and became the king of sciences and made the world to think about the work done by humans physically can done by machines which are robots . The combination of mechatronics and automation are to create robots. The technology of automated machines trades in dangerous environments or manufacturing processes in humans. To perform self-governing scientific times, however, the functionality of robots and machines to create applications grow significantly until the 20th century, the concept of research. Historically, the robots to imitate human behavior are often seen in the leg and are often similar to that of the management tasks. Continuous research, technology development, design, and construction of new robots for practical purposes, domestic, commercial, or serve in the military, whether today, Robotics, a rapidly developing field. Several robots, bombs, mines and hazardous jobs people do zoos ' defusing exploring the ship. Many of the robots in the field of bio-inspired robotics, inspired by nature's terms. The word robot is the Slavic word robot, comes from The word robot was introduced in 1920 to play Karel Čapek's RUR, or Rossum's Universal Robots.
To conclude, robots could be the backbone of the society that will result in a technological revolution. Because of robots various characteristics that do not experience fear, nor exhaustion and they are precisely programmed, which make them able to help in case of need, housework, and factories production. Society needs to put the issue of robots into consideration to satisfy any shortage exists in the world.