Abstract
Technological breakthroughs are the reasons for industrial revolution to occur. However, it may take time to exert its effects on social and technological domains. Artificial intelligence is the branch of computer science which tries to replicate human intelligence in machines that are programmed to think like humans and mimic their actions. It is acquiring increasing importance in industrial application, revolutionizing the entire industrial system enough to be referred as “Fourth Industrial Revolution.” This chapter describes the impacts of artificial intelligence on the economy and society at large. Specifically, it analyzes the enablers and barriers behind the automatization of the working force and how the digital transformation may entail opportunities and challenges for the current economic and working dynamics as well as for society in general.
TopResearch Methodology
To allow digitalization and AI to thrive in society, economy and organizations, beside the formation of a new work category, a proper up-skilling and re-skilling of the workforce is required (Becker & Gerhart, 1996).
In this respect, we build on the human resource development framework (Swanson, 1995). The framework is composed by two dimensions: training and development, and organization development. This means that the personnel training and development depends also on the ability of the organization to promote the employee training. In our chapter we build on these two dimensions to theorize about the impact of AI and digital technologies on economy and work and their implications on society.
Key Terms in this Chapter
Digital Transformation: The application of digital technology to every aspect of services or businesses, substituting non-digital or manual processes with digital processes or replacing older digital technology with newer digital technology.
Robotization: Automation of a system or process by use of robotic devices.
Artificial Intelligence: Branch of computer science which simulate of human intelligence in machines that are programmed to think like humans.
Learning Management System: Software application for the administration, documentation, tracking, reporting, automation and delivery of educational courses, training programs, or learning and development programs.
Creation of Social Impact: Fostering initiatives and activities that aim at benefiting society at large, increasing the well-being of different stakeholders and communities.
Servitization: Process of building revenue streams for manufacturers from services.
Machine Learning: The application of artificial intelligence (AI) to provides systems the ability to automatically learn and improve from experience.