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What is the economic future of AI?

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 As the battle for AI has been grouped into four categories where the countries are grouped in four different segments. The economic future of AI is quite debatable with suggestions from different industries as well as industry leaders or industry visionaries.

In 2017, Bill Gates argued the future of AI and suggested the work of robots should be taxable. The future of AI or robots has been arguably considered that is going to replace human jobs. For social-economic or to save the public money, it is needed to impose robot tax on owners.

However, in 2017, the European Parliament rejected the suggestion but in the future, if there is a significant fall then there will be pressure on the government, hence the robot tax may not be avoidable.

The most robotized country in the world- South Korea in 2018, had reduced the tax deduction on business investments in automation. The robot tax in the future is going to be a debatable topic to clearly mark the agreed definition and the possibility for the taxation forms. There needs to be a guideline followed by every country to stop any kind of scam or fraud. The tax invasion by anybody also needs to be addressed and tough laws need to impose to handle such situations.

What do you think about the movement? Do you think Robot tax should be implemented to secure the future economy? Do you think the idea will secure the public money or is it just a misguided route being mapped for the future labor force?

AI is defined as the conceptual ambiguity of “intelligence”. AI has been defined as an umbrella term for a group of technologies, autonomously capable of performing tasks, done by human beings. Intelligence has been considered to outperform human task ability also.

The global potential aggregate for the economic impact of AI in the future are: –

The global economic impact for AI in various sectors.

Source: OECD, 2017, Europarl

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