AI Robotics Future - How Artificial Intelligence Will Change The Future?

Artificial Intelligence and Robotics are Changing Society's Future. 

The AI applications and associated emerging technologies in health, manufacturing, services, and agriculture are of interest, likewise, the regulation there in is also an area of concern. 

The use of AI/robotics in each of these areas has been identified as a major source of productivity gains. 

A sectorial approach to AI and robotics, on the other hand, has limits. 

It seems that a more thorough understanding of the linkages between the applications, as well as an emphasis on public policies that promote general justice, inclusiveness, and equity improvement via AI/robotics, is required. 

• The increasing importance of robots in industry and its implications for employment are to be be watched.

• Investigating the effects of AI/robotics on poverty and marginalization, as well as their connections to public health is important.

• The potential of AI/robotics for sustainable agricultural production and food security. 

• Consider the benefits and dangers of incorporating robots into education, while we examine the risks and possibilities of AI in financial services, where people are increasingly replaced and even evaluated by computers. 

The five sections in this article are intertwined because they all rely on present and rapidly developing AI/robotics applications, but the balance of benefits and dangers for society varies significantly across different sectors of AI/robotics applications and penetrations.

How AI Will Impact The Future Of Work And Life 

Unless AI is harnessed for public benefit, it may pose serious threats to the economy and societal stability. 

• Manufacturing jobs may be lost to digital equipment, resulting in increased economic inequality and knowledge gaps. 

• Automation advances and increasing artificial labor supply, especially in the agricultural and industrial sectors, have the potential to substantially decrease employment in developing countries. 

• Workers in low-income nations may be impacted by the increasing dependence of businesses and services in higher-income countries on robots, which may decrease the need for regular tasks to be outsourced to low-wage areas, due to connections within global value chains. 

Robotics, on the other hand, may boost labor demand by lowering manufacturing costs, resulting in more industrial growth. 

• There are presently no reliable estimates of the number of jobs lost or generated in sectors affected by robots. 

• Because of this uncertainty, it's no surprise that the job and labor implications of robots are a significant public policy problem. 

• Policies should strive to provide the essential social security measures for impacted employees while also investing in the development of the skills needed to take advantage of the newly generated employment. 

The government may propose redistributing the revenues generated by robot labor. 

Such redistribution might, for example, pay for impacted workers' retraining so that they can stay in the workforce. 

In this context, it's essential to note that many of these new technical breakthroughs are made possible by government financing. 

Robots, artificial intelligence, and digital capital in general may be used as a tax basis. 

• This is now not the case; human labor is taxed directly via worker income taxes, while robot labor is not. 

• Robotic systems are supported indirectly in this manner if businesses can offset them in their accounting systems, lowering corporate taxes. 

• Such distortions should be thoroughly examined, and if there is a bias against human labor and a preference for robot investment, this should be corrected. 

• Returning to the economy-wide AI/robotic impacts, such as employment, and rising robotics investment is an essential element of the economy's increasing digitization. 

• Although economic research has lately started to examine the role of robotics in contemporary economies, empirical study is still restricted, with the exception of possible robot employment impacts. 

• The empirical data on the impact of robots on employment is varied. 

The economic consequences of robotics go beyond job creation, citing growing repercussions on the structure of production in global value chains. 

• These shift the workforce distribution between wealthier and poorer economies. 

• Robots may have a negative impact on the offshore of activities from established countries, implying that robotics may reduce the incentives for moving industrial activities and employment to developing nations. 

• As a result, robots has been recognized as a predictor of future economic success by businesses and governments in developing countries. 

• As a result, the worldwide expansion of AI/robotics-based automation may hasten deindustrialization in the growth and development process. 

• Even if developing countries' sectors expand, low-cost manufacturing employment may increasingly be performed by robots, resulting in fewer jobs for humans than anticipated.

What Is AI's Impact On Poverty and Welfare?

Concern to robot rights seems to be exaggerated in contrast to attention to the consequences of robotics 

• The benefits and dangers of AI/robotics for sustainable development and people in poverty need greater attention in research and policy. 
• The consequences for low-income nations, disadvantaged populations, and women, in particular, must be studied and taken into account in programs and policies. 

AI/robotics outcomes are determined by real designs and implementations. 

This cross-cutting problem is shown by the following examples: 

• Depending on their application and the attention given to this problem, Big Data-based algorithms that draw patterns from previous occurrences may perpetuate prejudice in corporate practice

• or can identify such discrimination and offer a foundation for remedial policy measures. 

• New financial systems, for example, may be designed to include or exclude. 

• In many low-income areas, AI/robotics-assisted teaching tools provide possibilities, but the usefulness of these resources is highly dependent on both the teaching material and the skills of the instructors. 

• Because so many impoverished people live on tiny farms, especially in Africa and South and East Asia, it's crucial that they have access to useful digital technology and AI. 

• Land ownership certification using blockchain technology, precision technologies in land and crop management, and many more are just a few examples. 

• More attention should be paid to the direct and indirect environmental effects of AI/robotics. 

• Monitoring changes in biodiversity and the effects of actions in land and aquatic systems may be greatly improved using smart remote sensing. 

The problem of contamination caused by electronic trash dumped in low-income countries by wealthy nations. 

• This problem, as well as the carbon impact of AI/robotics, need consideration. 

• For those living in poverty and marginalization, the effects of robots and AI on such fundamental shifts in economies and employment will not be benign. 

• Extreme poverty is on the decrease across the globe, and robots and artificial intelligence (AI) have the ability to speed up or slow down the process. 

• There is a scarcity of data on how AI/robotics may impact the impoverished. 

A framework can show the effect of AI/robotics on poverty and marginalization, as well as on health, education, public services, work, and farming, as well as on the poor's voice and empowerment. 

• Such a framework highlights AI/robotics entry points and is supplemented with a more comprehensive examination of the routes via which developments in these areas may connect favorably or adversely to impoverished people's lives. 

• They come to the conclusion that the context of nations and societies has a significant influence in deciding the implications of AI/robotics for the various demographic groups at danger of poverty. 

Without a strong emphasis on people's traits and endowments, AI/robotics breakthroughs may not only circumvent them, but also negatively affect them directly or indirectly via relevant markets and services in their communities. 

• To better understand the components of AI/robotics breakthroughs and determine how they may best assist the lives of poor families and communities, empirical scenario creation and modeling is required. 

• The results of AI and robots are heavily influenced by legislation. 

• New government programs that fund care and innovation are potential answers.

What Is AI's Impact On Agriculture and food?

The impact of AI/robotics on food security and agriculture is closely linked to poverty. 

• The world's poor labor mostly in agriculture, and owing to their low income, they spend a significant portion of their earnings on food. 

• AI/robotics in food systems - While being under climatic stress, agricultural output must still grow while avoiding negative effects on ecosystems, such as the present loss in biodiversity. 

The topic of autonomous robots for agricultural activities is an intriguing one. 

• Robotics is becoming more scale-independent, which may help small farmers via wage and pricing impacts. 

•  In all aspects of the food value chain, where automation is driven by labor costs as well as expectations for cleanliness and food safety in processing, AI and robots are becoming more important. 

The advantages of modern technology for small-scale farmers. 

• Remote locations, steep hills, and soft soil areas may all benefit from small-scale automation. 

• Previously unproductive regions may become fruitful once again. 

• Precision farming may be extended to low-income farmers, enabling them to embrace climate-friendly methods. 

• Farmers may be both data producers and consumers, as they use their cellphones to connect to cloud technology, connect to risk management instruments, and monitor crop damage in real time. 

The economic environment may shift as a result of technological advancements. 

• Because of easier access to financing and leasing alternatives, purchasing new equipment may no longer entail going into debt. 

• Smallholders would benefit more from the decreased size of efficient production. 

• Farmers and their families may diversify their income by using robots in the field, since the demand for family labor for low-productivity jobs is decreased, and time can be devoted to other profit-generating activities. 

• Furthermore, robots can operate, allowing for greater accuracy in harvesting, particularly for high-value commodities such as grapes or strawberries.

What AI's Impact On Education?

Aside from health and caregiving, where AI/robotics have had a significant effect, the impact of AI/robotics on education and finance is expected to grow in the future. 

Robotics is already having an effect on education, whether it's in the classroom or via distance-learning systems, whether it's for children or for adult training and retraining. 

• With the inclusion of artificial intelligence, robots has the potential to broaden the reach of education in fascinating new ways. 

• Simultaneously, there are worries about new dependencies and unknown mental consequences of these technology. 

Child education is a unique instance since it involves both emotions and information exchanged between children and adults. 

• AI/robotic resources may replace teachers and explores their ethical implications. 

• In situations when instructors are few, he stresses the benefits of computer-assisted teaching. 

• Although the technological potential of integrating artificial intelligence with education are vast, the expenses must also be considered. 

• Because children are very sensitive human beings, the ethical issues posed by these advances must be addressed. 

• Because the need to improve education globally is so great, any acceptable solution that takes use of these technology advancements may be beneficial, particularly in the field of computer-aided education.

What Is AI's Impact On Finance, Insurance, And Other Services?

In key service areas such as banking and insurance, as well as real estate, several promising but also concerning tendencies of AI-based algorithms based on Big Data are rapidly developing. 

Machines are increasingly assessing and judging people in various areas. 

Financial technology Fintech environment, which includes everything from workplace automation to new ways of storing and moving wealth, as well as credit giving are poised for rapid change. 

• For example, new services are developing, such as insurance offered by the hour, and AI systems are rapidly replacing dealers as stock market investors. 

Other than industrial robots, AI advances are likely already altering and decreasing employment in previous high-skill/high-income sectors, but not in regular manufacturing activities. 

• The integration of data sources from social media with algorithms to evaluate credit risk is a foundation for certain Fintech activities by traditional financial institutions and start-ups. 

Another aspect is the use of distributed ledger technology by financial organizations. 

The Fintech environment is divided into two realms : 

1. "incrementalist Fintech" 
2. and "futurist Fintech." 

Fintech that is incremental utilizes new data, algorithms, and software to accomplish activities that are already performed by established financial institutions. 

• The fundamental nature of underwriting, payment processing, and lending in the financial industry is unaffected by emerging AI/robotics. 

• These institutions are nonetheless regulated by regulators, and their adherence to regulations ensures that long-standing norms of financial regulation are upheld. 

Fintech, on the other hand, promises to disrupt financial markets in ways that transcend or even eliminate regulation. 

• If blockchain-based transaction records are really "immutable," legislative measures to enhance security and prohibit record change may be unnecessary. 

We can foresee significant problems with futurist Fintech, which relies on extensive monitoring to get access to services. 

• When people fight for advantage in financial markets in ways that damage their financial health, dignity, and political power, these may become predatory, creepy, and unpleasant for a variety of reasons, including that they subjugate inclusion. 

• For reasons such as discriminating against women for lower-paying professions, discriminating against the elderly, and driving customers into purchasing goods via sophisticated social psychology and personalized advertising based on "Phishing," algorithmic responsibility has become a major issue. 

Obligation networks are very difficult to dissolve, even for governments. 

• Capital has entangled itself in worldwide legal structures that conceal wealth and income from regulators and tax officials. 

• Cryptocurrency may be used to evade legal claims and benefit the wealthy. 

• The potential for cryptocurrencies to destabilize financial regulation and monetary policy is promising. 

• Both incrementalist and futurist Fintech,  reveal the hidden costs of digital attempts to bypass or co-opt governmental monetary authority. 

The future paths of certain AI/robotics breakthroughs seem to be fairly apparent already. 

• Robotics, for example, is rapidly increasing in space research and satellite systems that observe the globe, in surgery and other kinds of medical technology, and in monitoring Anthropocene change processes, such as crop growth at tiny scales. 

• Robotic hand-arm systems, which face difficulties of accuracy, sensitivity, and robustness, as well as safe gripping requirements, are paradigmatic for many application scenarios, not only in industry but also in care and health. 

Telemanipulation systems are showing promise in a number of fields, including healthcare, industrial output, and mobility. 

• In order to design optimum innovation paths, good IP standards and/or open-source innovation platforms should be investigated thoroughly in each of these domains. 

• This is a potential field of study in economics, technology, law, and politics.

~ Jai Krishna Ponnappan