Computer Science
CSU Stanislaus Putting Economic Impact of Artificial Intelligence on Society Paper

California State University Stanislaus

Question Description

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Final Project - Putting It All Together

To this point in the course, you were submitting individual components of the thesis project. Now, it is time to pull all the components together into one final document.

The final paper must follow the Thesis Exemplar 1 and Thesis Exemplar 2 templates and include, at minimum, the information below.

  • Title Page (1 page separate from other pages)
  • Table of Contents (pages as needed and separate from other pages)
  • List of Tables, Figures and Appendices (pages as needed and separate from other pages)
  • Abstract (1 page separate from other pages)
  • Introduction (pages as needed)
    • Problem Statement
    • Research Question (s)
    • Purpose/Rationale (pages as needed)
    • Definitions (if applicable) (pages as needed)
    • Hypothesis/Propositions (if applicable) (pages as needed)
  • Literature Review (pages as needed)
  • Methodology (pages as needed)
    • Research Design (Describe and define the research approach or strategy used and how this approach was appropriate for this research)
    • Participants (Describe the sample population (number, gender, age, socio-economics, etc.) including how you obtained permission and consent)
    • Instrumentation (Describe any instruments used to collect data)
    • Procedure (Provide the detail about how you conducted the research)
    • Data Processing and Analysis (Explain, in detail, how you processed and analyzed collected data)
    • Summary
  • Results (pages as needed)
  • Discussion (pages as needed)
  • Conclusions (pages as needed)
  • References (pages as needed and separate from other pages)(minimum of thirteen (13) peer-reviewed, professional references)
  • Appendices (if applicable) (pages as needed and separate from other pages)

The paper does not have a page limitation (maximum or minimum).


Topic: Economic Impact of Artificial Intelligence on Society

Research purpose or issue:

As artificial intelligence (AI) transforms the way we work and live, the following question raises: How much these technologies will impact the economy, consumers, and businesses generally? The purpose of this qualitative research is to identify the key roles that AI play in organizations and the economic impact of its use in the organization and society.

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Final Answer

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Running Head: ECONOMIC IMPACT OF AI ON THE SOCIETY

Economic Impact Of Artificial Intelligence On Society
Student
Professor
Course
Date

1

ECONOMIC IMPACT OF AI ON THE SOCIETY

2

TABLE OF CONTENTS.
LIST OF TABLES .........................................................................................................................4
ABSTRACT ....................................................................................................................................5
CHAPTER ONE: INTRODUCTION ..........................................................................................6
1.1 Problem Statement .................................................................................................................6
1.2 Research Questions ................................................................................................................7
1.3 Purpose of the study ...............................................................................................................7
CHAPTER TWO: LITERATURE REVIEW .............................................................................8
2.1 Introduction ............................................................................................................................8
2.2 Impact of AI on businesses ....................................................................................................8
2.3 Impact of AI on the economy ................................................................................................9
2.4 Impact of AI on the society ..................................................................................................10
2.5 Summary ..............................................................................................................................11
CHAPTER THREE: RESEARCH METHODOLOGY ..........................................................12
3.1 Introduction ..........................................................................................................................12
3.2 Research design ....................................................................................................................12
3.3 Designing of the field work .................................................................................................12
3.3.1 studying adaptation of AI in industries and businesses.....................................................13
3.3.2 Focusing on employment and its evolution.......................................................................14
3.4. Participants ..........................................................................................................................14

ECONOMIC IMPACT OF AI ON THE SOCIETY

3

3.4.1. Population information ....................................................................................................15
3.5. Tasks Performed related to advancing the research project................................................17
3.6. Data Collection Instruments. ..............................................................................................18
3.7. Data Collection Procedures.................................................................................................18
3.7.1 Types of data collected ....................................................................................................19
3.8. Data Processing. ..................................................................................................................19
3.8.1 Including and excluding data. ...........................................................................................20
3.9. Data Analysis procedures ..................................................................................................20
CHAPTER

FOUR:

DISCUSSION

OF

RESULTS,

CONCLUSSION

AND

RECOMMENDATIONS.............................................................................................................22
4.1 Findings and Results ............................................................................................................22
4.2 Discussion of study findings. ...............................................................................................27
4.2.1 Conflicting results .............................................................................................................28
4.2.2 Unexpected findings .........................................................................................................29
4.2.3 Implication of research findings .......................................................................................30
4.3. Research Conclusion ..........................................................................................................30
4.4. Recommendations ..............................................................................................................32
4.5. Future Research Suggestions. .............................................................................................33
REFERENCES.........................................................................................................................34

ECONOMIC IMPACT OF AI ON THE SOCIETY

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LIST OF TABLES.
Table 4.1 Various forms of Artificial intelligence in the society.
Table 4.2: Artificial Intelligence Patents.
Table 4.3:percentage of jobs at high risk of automation by 2030, by geographic region and industry
sector(adjusted using the global innovation index).
Table 4.4: GDP impact of AI by geographical region and channel of impact

ECONOMIC IMPACT OF AI ON THE SOCIETY

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ABSTRACT.
The purpose of this research is to investigate how emerging technology innovations,
specifically artificial intelligence affects the economy. The fact that artificial intelligence affects
how people generally work and live raises some questions that will be addressed in this research.
Particular issues raised by the research topic include how the implementation of artificial
intelligence in the daily lives of people in the society influences their economic situations.
Assessing the economic impact of AI on the society will assist economists and future researches
in the field identify ways through which the design, delivery and implementation of AI can be
improved so as to have a more significant economic impact. The study started from two
motivations. The central issues in the questions are mostly issues off economic and social contexts.
The ways through which people adopt and embrace AI will in turn affect how they work, how the
live and eventually the quality of their lives. A 2018 by the McKinsey Global Institute revealed
that has the potential to increase labor efficiencies for corporations, and in turn the economic input.
This implies that as the business world embraces AI, the job roles of humans in organizations will
change, and so will their employment opportunities. Adoption of AI has triggered an evolution in
employment and impacted the economy amongst other consequences.

ECONOMIC IMPACT OF AI ON THE SOCIETY

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CHAPTER ONE: INTRODUCTION.
1.1.Problem Statement.
The way artificial intelligence transforms the way we work and live raises the inevitable question
of how much the technologies will impact the economy, consumers, and businesses generally.
Employees and the society as a whole want to know what Artificial Intelligence means for their
income and job, while businesses, on the other hand, asking how they can capitalize on the
opportunities presented by artificial intelligence and where consumers and businesses should target
their investments. Cutting across all these considerations is how to build Artificial intelligence
transparently and responsibly necessary in maintaining the confidence and loyalty of the
consumers and the stakeholders.
Despite social media discussions about the things that Artificial Intelligence will be able to
achieve, the majority of studies that have embarked on answering this question have focused on
the risks that AI presents on employment. Gaines-Ross's article on Harvard Business Review, for
instance, addresses how the probability of job loss due to the integration of Artificial Intelligence
was the largest concern among the respondents of their survey (2016). The research by Autor
(2003) also dwells on AI’s impact on employment due to the automation of some tasks. More
recently, other works have addressed the benefits that could accrue from productivity gains
brought by AI. However, there is much to these possible opportunities and benefits of AI.
Collecting and analyzing the data in the ways facilitated by AI technologies will enable firms to
reduce the amount of time spent by consumers in completing low-value duties or reducing the
frictions in the consumption process thus increasing consumer demand.

ECONOMIC IMPACT OF AI ON THE SOCIETY

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This research also seeks to take further steps to capture the full economic potential of Artificial
Intelligence globally, widening the perception of AI’s potential beyond employee replacement, to
AI that augments productivity and the workers. This research also aims to explore the impact of
AI-driven consumption-side product enhancements on the economy, which, to my existing
knowledge, which is yet to be explored in detail in Artificial Intelligence literature.
1.2.Research questions.
This research will address the two research questions below.
1.Is AI Growth enhancing?
2.Where will the value gains come from with AI?
1.3. Purpose of the study.
With the increased popularity of artificial intelligence, more organizations are adopting it in
various aspects of the business. The purpose of this qualitative research is to identify the key roles
that AI plays in organizations and the economic impact of AI in the organization and society.

ECONOMIC IMPACT OF AI ON THE SOCIETY

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CHAPTER 2: LITERATURE REVIEW
2.1. Introduction
In 2018, a study by McKinsey Global Institute reported that Artificial Intelligence could
potentially increase the current global economic output by 16 percent in 2030. Artificial
Intelligence encompasses all theoretical and practical developments of computer systems that can
carry out a complex task without human input (Cohen, 2018). Practical applications of AI include
intelligent routing in content delivery networks, automotive technology, human speech
recognition, and the ability to complete strategically complex tasks such as playing chess in-game
systems. When AI is integrated into existing computer systems, the impacts of smart computers
working together with humans can 'completely' revolutionize business operations and performance
for implementing organizations. The goal of this literature review is to determine the impact of AI
integration on businesses, the economy, and society in general.
2.2. Impact of AI on Businesses.
The adoption of AI can be expensive for businesses. However, its successful implementation and
integration in a business process can significantly increase the performance of a company,
primarily by increasing labor efficiency and innovations in products and services (Koen,
DeStefano, Menon, & Suh, 2018). AI is a strategic tool for improving the competitive advantage
for any business. Naudé and Nagler, 2015, assert that AI adopti...

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