Artificial Intelligence: A Discussion of Impact on the Social Wealth

Abstract

New technologies have been rapidly adopted in the workplace since the fourth industrial revolution. Artificial intelligence and machine learning technologies are prime examples of this. It is debatable whether people are adequately prepared to deal with the challenges and crises that AI technology may bring. However, only some substantive results indicate how people can avoid the wealth divide that technology can create from the current perspective. This paper summarizes the potential benefits and drawbacks of artificial intelligence technologies on labor markets, identifies the economic and employment imbalances that could be caused by the concentrated development of markets and conclude that avoiding AI requires a multifaceted approach to monitoring and avoiding the structural disruptions it can cause. From the perspectives of workers, policy administrators, and businesses, several potential solutions are provided. The findings presented above are being used to avoid an increase in unemployment among primary practitioners and an increase in poverty among the poor.