Society is characterized by disruptive technologies, and the leading among them are Artificial Intelligence (AI), machine learning, and Blockchain. It is expected that once the full potentials of supercomputing is achieved through ongoing research, a major shift in society will result because the computing power will perform amazing tasks with great simplicity and ease (Bughin et al., 2019). Machine learning enables diverse robotic and mechanical automation to be executed. Machines can be exposed to routine encounters using a massive amount of data to learn how to execute intelligent motion. Machine learning and artificial intelligence enable many hybrid and innovative functions to be inbuilt in automatic processes like in the vending machines and autonomous vehicles. Artificial intelligence and Machine learning are currently the most disruptive technologies in society because they have created massive automation in diverse fields and have supported the erection of computing systems in research where human capacity and operations would be severely limited. Giga factories with large-scale robotic and automated machine operations depend effectively on Artificial Intelligence and Machine Learning.
Blockchain technology involves a decentralized and distributed ledger process of technology that captures data and transactions of varied kinds and uses such as markers of personal financial code. Blockchain technology enables the automation of financial transactions on a global scale and will have a massive impact on the future of operations and global commerce. Many banks cannot find individual data to execute suitable metrics for loans and other services. However, every transaction can produce an anonymous and authentic measure of individual users’ financial integrity through the blockchain wallet. Massive digital information collected gradually over time and classified under extensive public databases can yield useful insights about lifestyle, financial transactions, relations, and affiliations to fraternities, political inclination, and family ties. Such data may be immensely valuable for guiding commerce and business transactions on a global scale because they yield highly accurate and precise information for business decision-making.
The most recent technological advancement with immense potential of disruption and change is Artificial Intelligence (AI), which has enabled massive automation within industries and diverse sections of the economy. Artificial intelligence enables automation and the deployment of robotics within most manufacturing organizations, and this means that a significant number of jobs will be lost as machines replace humans (Blit, Amand & Wajda, 2018). It is expected that automation will reduce the number of employees in the banking sector drastically. Whole new professions will arise, and many traditional jobs like legal services will become automated as a result of artificial intelligence and machine learning. Robotic functions attuned to massive databases in the legal field have demonstrated sufficient capacity to produce suitable legal services more efficiently and rapidly. The effect is that most of the routine work at the entry levels of the legal professions will be lost to automated systems.
During the industrial revolution, the introduction of machine-powered looms, which predominantly depended on the steam engine, made massive numbers of weavers jobless. People had to leave the old industries to find jobs in newer industries and new jobs like secretarial work, artisans in new metalworking industries and food processing factories. The invention of the automobile, which enabled people to travel comfortably, replaced the horse carriages and the horse-drawn coaches, which were the prestigious things to own. Technological change in society today will have a far-reaching influence on society because of the significant risks and flaws in the traditional wasteful economy (Brougham, Haar & Tootell, 2019). As people demand better and efficient solutions to development challenges, technology alone can promise a future of safety and environmental sustainability. Moreover, the new technologies will solve poverty, insecurity, and unsustainable forms of governance practices to produce a bold new age of limitless progress.
Blit, J., Amand, S. S., & Wajda, J. (2018). Automation and the future of work: Scenarios and policy options. Centre for International Governance Innovation.
Brougham, D., Haar, J. M., & Tootell, B. (2019). Service sector employee insights into the future of work and technological disruption. New Zealand Journal of Employment Relations, 44(1), 21.
Bughin, J., Hazan, E., Allas, T., Hjartar, K., Manyika, J., Sjatil, P. E., & Shigna, I. (2019). Tech for Good: Smoothing disruption, improving well-being. McKinsey Global Institute.
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