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How AI Could Bring About An Entirely New Economy

Samantha Green

UBI, AI, and the future of the modern business landscape all depend on innovations in technology that will continue to disrupt and shape the industry. 

Universal basic income is still somewhat of a controversial issue, and for good reason. AI has already become a fundamental technology that has quickly become one of the most frowned-upon technologies in the world. 

AI has also affected everything from video game logic to ad targeting. However, what many do not know, is that AI has been instrumental in restructuring the healthcare industry and opening it up to patients around the world. 

Automation alone isn’t the cause for this massive explosion, rather it is the culmination of years of research and innovation that has led to a newly refined AI technology that is changing the world at an irredeemable speed. 

However, all of this innovation and development comes at the price of radical change which can revolutionize society for the better or frighten people to the point of regression. 

Automation and the economy

Over the years more and more companies will hire artificial intelligence engineers. The cost of goods has dropped dramatically as well. With fewer expenses, companies have greater profit margins. But what about the consumer? As automation continues to roll through, we can expect goods and services to be cheaper than ever before.

Already we are seeing the beginning of a world without limits, an economy built on value rather than need, a supply-and-demand chain without scarcity.

An optimized economy

An economy based on the speed and power of your computational devices is one with a very different set of values to current affairs. 

As artificial intelligence continues to dominate the consumer electronics market it may be time to consider whether or not this is simply a fad. AI is going to radically change business, the creative arts, and society at large as long as interest and investment stay high which it undoubtedly will. Ultimately, the pinnacle point of the technology hasn’t been even hinted at, and yet the world is already changing for AI. Other industries that will be changed by AI will be hospitality, education, marketing, medicine and many more. 

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Universal Basic Income

Universal basic income isn’t a new idea. It’s been a hotly debated topic for centuries. Universal basic income has resurfaced in prime form as automation has increased and new applications of AI have been implemented. UBI, something that received bipartisan support in the seventies could be implemented with the help of the analytical power of artificial intelligence.

An optimized economy, one constantly tweaked with the help of automation and AI, one logged and booked by triple-entry bookkeeping leveraging blockchain, is quite possible.

The impact of AI is crystal clear and the progression of technology is leading to a world based on automation, where the cost to produce is cheap and so is the price to purchase. This results in a very real scenario in which the world could enter a post-scarcity state where food is plentiful and so are the basics of life. 

Unfortunately, a side effect of this rapid progression will be the process of adaptation that we will have to go through as positions are eliminated and profits soar. Even with the promise of cheaper goods overall, the lack of opportunity combined with a limited flow of resources could mean potentially dangerous consequences if adequate preparation is not completed. 

AI can come in again to provide opportunities in a new age of technology. Regardless of relative position, one thing for sure is true, a world in which most of the working positions will be fulfilled by AI is just around the corner. Being prepared for such an eventuality is a given, and while the method may be hotly debated, AI will certainly have a hand in shaping it. The impact of AI truly comes from the mass applications of automation in the modern business landscape.

DNA analysis

AI is used in DNA analysis to assist in the creation of vaccines and the finding of weaknesses in live viruses. AI technologies even assisted in the creation of an Ebola vaccine that worked wonderfully. 

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Of course, the most important thing that AI is doing is assisting medical professionals in their daily operations. The medical industry is a fast-paced, stress-inducing balancing act that requires constant precision and accuracy. 

Automated diagnosis

If you have a history of cancer or have early signs, then you should visit a doctor who uses assisted AI and has an accurate screening done by an advanced AI. The process is simple, easy, and could save your life someday. 

AI is also demonstrably better at reading than humans could ever be, not comprehensively, but in terms of speed. AI can analyze patient records and synthesize the data into a useful sheet of information. Doctors can request any time of file related to their healthcare and AI-powered machines will deliver it to them in a fraction of a second. 

Assessing and analyzing patient records quickly could potentially save the lives of those who are in critical or emergencies. This same detection technology can also be used to analyze your genes and discover any issues that may be present. AI systems can read reports, schedule meetings, and update doctors around the clock without human supervision. 

This system of flowing information and technology is already changing the healthcare industry for the better and as it continues to progress we should expect to see even more impressive innovations very shortly. 

Much of the success of AI in healthcare stems from its ability to detect cancer at a much higher rate than any of the traditional cancer screening methods. Google’s AI has somewhat famously found breast cancer at a higher rate and more accurately than most medical professionals. 

People who are unsure of their health and don’t mind the technological accompaniment are going to find the best results using AI. This is invaluable in practicing good preventative care and could be used to help fix disastrous issues before it’s too late. Another invaluable use of AI in healthcare is as a tool in the fight against viruses and how to improve mental strength in sports and many more.  

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While there are now veritable cures to viruses et al, there are things that AI can do to suppress their effectiveness and create healthier environments. However, this difficult task becomes much more manageable when AI is implemented at a system level and incorporated into daily functions.

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