Accelerating Technology and the Economy

Feb. 21, 2011 - PRLog -- Technology always seems to be developing rapidly, at ever increasing-speeds, but although there can be advantages to this rapid advancement, there are also risks involved, particularly in the way that new technology can affect the economy.

Artificial intelligence is one area in which technology is currently developing rapidly. It has been suggested that success in this area may not be too far away. Computers could be thinking for themselves within twenty years, although some scientists believe that it could take much longer to create machines that can really think for themselves. However, everyone agrees that computer technology is going to continue to undergo rapid development in the near future, become capable of things that are impossible for the computers of today as well as developing greater flexibility and new ways of reasoning.

As computers begin to grow more intelligent, their impact on the economy could grow stronger. If computers begin to match and surpass the human mind, then they could begin to take on some of the jobs for which human beings are currently required. A computer which could work with far fewer errors and with no need for sick leave, vacations or pay would be far more attractive to business owners than a human employee. Machines have already taken on many of the roles that were once taken by people, but advances in technology could see even more human jobs being replaced, particularly those that require a lot of repetitive, boring tasks. A computer would not even need to be as intelligent and adaptable as a human in order to perform a particular job well enough to replace an employee.

The problem with this technological advancement is that, while scientists and technology lovers spend a lot of time thinking about the future of technology and the ways in which they can improve it, economists do not seem to be taking technological advances into consideration. They seem to be planning for a future in which computers and technology will continue to perform the same sorts of functions that they do today. Economists have not been considering the fact that computers could replace human workers in many roles. They continue to think of technology as something that will lead to more jobs through increased prosperity, rather than as something that could take jobs away from people.

In order for the benefits of rapidly accelerating technology to be enjoyed without forcing the economy to suffer through job losses, it is important for the economy to be prepared for what these new technologies will bring. If accelerating technology is not to bring high unemployment, people need to prepare for the changes that it will generate.

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David Laurent Guffroy is CEO / Founder of Etrading.cc, a domain names brokerage service and has created a non-profit organization Anti-Cybersquatting.com with the goal of helping companies and citizen in the battle against cybersquatting.