Impact of Artificial Intelligence for Economic Growth

Artificial intelligence is one of the systems that help humans in completing work. This is because the technology was created to provide a effective solution. By utilizing artificial intelligence can affect the level of economic development. The following are the impacts that can be felt by the intervention of AI technology that can be found in various sectors:

1. AI in Manufacturing

Artificial intelligence is a form of technology created to imitate human cognitive abilities. Examples are understanding a pattern, analyzing data, recognizing an environment to taking an action or decision. In the manufacturing sector, the application of AI allows a company to use software to analyze and collect data on a regular basis.

  • More observant product quality checks.
  • Capable of designing thousands of components.
  • Regulating the fuel valve thereby reducing the impact of pollution on the environment.
  • Increase productivity based on processed data.

2. AI in Education Sector

The presence of artificial intelligence technology in the education sector makes it possible for every educational institution to create a more personalized learning experience. Examples of artificial intelligence applied in the education sector include:

  • Adjustment of learning materials that are tailored to the needs of each student.
  • Able to share evaluations or correct test questions.
  • Interaction between students and teachers can be through a voice assistant (VA) which allows students to get information about lessons without having to ask the teacher.
  • Ease the work of teachers in completing administrative tasks.

3. AI in Finance and Banking Sector

In the financial and banking sectors, the presence of artificial intelligence is able to pamper customers in completing banking transactions. In addition, the potential for AI development in the financial sector as a whole is able to increase revenue while saving more expenses. The following is an example of the existence of AI that can be found in the banking and financial sectors.

  • The existence of internet banking and mobile banking services.
  • The presence of digital banks that provide online banking services.
  • Able to detect fraud on insurance claims.
  • The creation of an algorithm that is able to determine the potential for buying and selling shares.

4. AI in Transportation Sector

The benefits of artificial intelligence can also be felt in the transportation sector. At least there are several problems that can be overcome with AI technology, namely passenger safety issues, expenditure costs, gas emission reductions, and congestion problems. While the impacts of using AI technology in the transportation sector include:

  • Regulate vehicle traffic to reduce congestion.
  • The emergence of the use of self-driving cars that can create human resource efficiency.
  • Customer experience is increasing with the online motorcycle taxi application and flight information services.

5. AI in Health sector

The use of AI technology in the health sector has a positive impact because it helps health business processes. The presence of technology in the midst of people’s lives has a positive impact in various sectors. So that indirectly, it will also affect economic development. However, AI technology has not completely replaced medical personnel, especially in terms of recognizing emotions. The role of AI in the health sector includes:

  • A more accurate patient diagnosis process.
  • Predict the patient’s health in the future.
  • Help doctors distribute treatments or suggestions for better care to patients.