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Robotics: Economic Boom or Bust?

9 Pages 2140 Words November 2020

neth Rogoff of Harvard University wrote that: "Since the dawn of industrialization, a recurrent fear has emerged that it will spawn mass technological unemployment." However, this is counter-argued by Jeffrey Sachs and Lauren Kotlikoff who argue that “What if machines got so smart, that they do not need manual labor to operate?”
In millions of other sectors, this will improve productivity, performance and generate more jobs. In this respect, two points are worth noting here. Automation has created millions of new jobs while eliminating numerous jobs, such as appliance repairmen, photographers, engineers, web designers, etc. By 2050, it is estimated that the robots of that age would produce the highest-paid jobs for human beings, while computers create jobs that we did not even realize we wanted to do. Just those tasks we are unable to do are performed by robots and there are many examples. For cancer cells, we do not have the attention span to examine every millimeter of every CAT scan. We humans do not have the requisite strength to melt silicone in a glass-shaped bottle and mold it. Our memories are not sharp enough to keep track of every pitch in a baseball game and measure in real time the likelihood of the next pitch. Consequently, we only offer robots some tasks that are difficult for us to do.
Nicolas Albery of the Institute of Social Inventions writes that, ``It is likely that, in the next millennium, computers and robots will have a capacity and complexity greater than that of the human brain. With the potential to act malevolently towards us, we humans should, force scientific associations to monitor and control the development of artificial intelligence systems.'' Albery claims robots can dominate us and that we are not going to have a chance against them. Nevertheless, though robots can replace humans, it does not imply that humans would be absolutely powerless. Technology, rather than being feared, despised, and dism...

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