Austerity, Automation, and Artisans

Governments have been shifting strategies [1] in order to capitalize on the new arms race. The grand prize that is waiting at the finish line is to become the dominant player in the artificial intelligence (AI) space. While most countries have been slow to adapt to the benefits that blockchain technology affords their economies, many have seen the results that artificial intelligence can deliver. Often glorified in science fiction and portrayed by the media as a subject of wonder and awe, few understand the developments that AI can truly bring to the world.

Austerity

The West has been witnessing a recent surge in right-wing governments across multiple countries. [2] These governments often enforce strict policies of austerity upon the public sectors. Austerity actions directly influence public unrest, they bring stagnating wages, and this gravely affects the working class who are already struggling to make ends meet. Matters are compounded by the fact that most national debts are spiraling out of control and inflation further devalues the buying power of the masses. These attributes have lead to declining economies and falling currencies.[3]

Automation

Automation has been a blessing and a curse. For most people it gives a release from the daily grind of monotonous tasks, yet for others it brings financial repercussions. Jobs are taken and workers are replaced by machines. Worse yet, those jobs are not easily replaced within the economy. [4] Automation is becoming so advanced that citizens are turning to radical new programs that might help resolve some of the most pressing issues to date. One such program is Universal Basic Income which has recently gained a lot of attention. [5] This may be an answer to some of the issues that the public is facing, but a need for purpose still longs to be fulfilled in the great void left behind.

Artisans

The need for the artisan is strong in society. Not the artisans of old who are being replaced by machines, but a new type of artisan who revels in technology. Artificial intelligence has had rapid advances in the past decade and after the initial application of a technology, history proves that there often follows a form which results in the mass adoption by the public. We have seen this process from the military with GPS, to giant corporations with the automobile. It is now time for general consumer products to begin integrating AI for the average person so that they can regain a foothold in this rapidly changing world. [6]

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Sources:

[1] https://medium.com/politics-ai/an-overview-of-national-ai-strategies-2a70ec6edfd

[2] https://www.newstatesman.com/2018/05/right-wing-populism-rising-progressive-politics-fails-it-too-late-save-democracy

[3] https://www.theguardian.com/politics/2018/dec/10/pound-falls-to-lowest-in-almost-two-years-amid-brexit-uncertainty
[4] https://www.bis.org/review/r151112a.htm

[5] https://www.businessinsider.com/president-obama-basic-income-debate-2016-10

[6] https://www2.deloitte.com/insights/us/en/industry/retail-distribution/potential-of-artificial-intelligence-consumer-products.html