The Fourth Industrial Revolution: Analysing the Impact of Artificial Intelligence on Employment with Case studies and Cobb-Douglas Production Equations
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With Artificial Intelligence (AI) making massive advances on a monthly basis, tech companies are booming and growing faster than ever before. An unfortunate consequence of this has been the unprecedented job loss, the rate of which looks likely to increase in the near future. In this project, we examine the various ways industrial revolutions had affected different aspects of daily life in the past and the current state of AI. We show the need for re-education and look into the perception of AI at present to understand how people are likely to react to re-education for integration into the AI world. We also derive a relation between education and AI and its relation to overall growth of GDP. Based on our survey’s responses, we devise a 5 step re-education process built on a novel Concentric Circle Division theory that aims to classify people into four groups based on re-education needs
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