Exponential Growth of Technology and the Impact on Economic Jobs and Teachings: Change by Assimilation

Abstract: 

Today’s computer programs, AI, and Robotics, are vastly superior, faster, more accurate, and some

people would argue, easier to deal with than most economists, statisticians, and the currently used

economic models. If that is the case, what are we to do, and what are the options? There are many. This

paper will provide research information on what is working or not, has changed, and what other options

might lurk in the future for this holy grail of science. The literature shows that Artificial Intelligence

offers a way to amplify and go beyond the current capacity of capital and labor to drive economic

growth. UMO is just one of the examples showing what a hive mentality can achieve and how accurate

and predictable the outcome can be. We will discuss how to suspend assumptions and why we ought to

stay open to different ideas. Organizations such as Accenture research report on the impact of AI in 12

developed economies, stating it “reveals that AI could double annual economic growth rates in 2035 by

changing the nature of work and creating a new relationship between man and machine.”

Exponential Growth of Technology and the Impact on Economic Jobs and Teachings: Change

This publication has been peer reviewed.
Publication Type: 
Journal Article
Authors: 
Anita Cassard, Joe Hamel
Year of Publication: 
2018
Journal, Book, Magazine or Other Publication Title: 
Journal of Applied Business and Economics (JABE)
Volume: 
20
Issue: 
2
Edition: 
Summer
Publisher: 
JABE
Date Published: 
Sunday, July 1, 2018
Place Published: 
USA
Publication Language: 
English
ISSN Number: 
ISSN 1499-691X
Boyer's Domain: 

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