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.”