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Navigating the Future: Harnessing Artificial Intelligence and Robotics for Economic Growth While Safeguarding Societal Well-being

Navigating the Future: Harnessing Artificial Intelligence and Robotics for Economic Growth While Safeguarding Societal Well-being

D. Renuka Devi (Stella Maris College (Autonomous), India), T. A. Swetha Margaret (Stella Maris College (Autonomous), India), and K. Avanthika (Stella Maris College (Autonomous), India)
Copyright: © 2024 |Pages: 16
DOI: 10.4018/979-8-3693-3108-8.ch012
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Abstract

AI and robotics are tremendously growing in the industry. It is going to affect the human labor in the coming decades. Artificial intelligence and robotics are rapidly being adapted by the industry. So, there is a need for humans to be competitive to survive in the growing industry. Due to the enormous demand for intelligent robots across all industries globally, employment in the field of artificial intelligence is growing along with this technology. The ample opportunity to understand the impact of these technology and preempt their negative effect is closing rapidly. In order to cope with these technological changes, humans are expected to be proactive rather than being reactive. So, this chapter discusses the technological aspects as well as the societal norms it's affecting. The aim is to increase awareness in understanding and rapidly adapting the significance of these technologies to help in formation of policies and regulation that maximize the uses and benefits of this technological evolution and minimize the possible danger it could do to the society.
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2. Background Study

The changes in the industry, the way the goods are manufactured, and delivered to the consumers, and how they provide employment opportunities have been a lot of changes which are categorized as industry revolution from 1.0 to 6.0. These changes have adverse effects on the economic growth of the country and are attributed to the living standards of the people. In this section the deep background analysis of how the industry had transformed from 1.0 to 6.0.

Industry 1.0, where the beginning of the revolution like the use of mechanized production started in the nineteenth century. The energy sources were used for manufacturing products. The coal and steaming process was majorly used in this process. The viability of mass production was made possible by this upheaval, which also saw the creation of the first industrial titans, such as ironworks and cotton mills (Ellitan, 2020).

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