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Summary
Artificial intelligence has the potential to become the new driving factor for the global economy. While artificial intelligence (AI) can be extremely helpful in multiple domains, some of the main ones are the space industry, agriculture, and medicine. According to its definition, AI is the technology that can use data, examine it, and make decisions based on the gained knowledge similar to how a human would do it.
Moreover, AI would be much more effective than humans in terms of time, reliability, and outcomes. There are negative and positive implications that researchers suggest in regards to the expanding use of AI. A favorable outcome is expected in the field of economic growth. For example, by 2030, the global GDP will most likely increase by almost 15% (Emen, 2020). Moreover, most companies will most likely use some sort of AI-related technology in the near future due to the efficacy and the positive outcomes related to such changes.
However, certain concerns regarding such substantial technological changes will leave a significant mark on global marketing. The most crucial source of anxiety is the fear of robots replacing humans and people losing jobs. This is a reasonable expectation since researchers suggest this will likely happen in the near future, and AI will be the leading cause. For example, more than 40% of manufacturing jobs in Turkey are at risk because of automatization (Emen, 2020). This implies that the new technology will not be beneficial in every aspect, yet it is likely to occur. Every company, corporation, and country, including Turkey, will benefit from following the examples of developed countries and mitigate the negative implications of AI.
Transnational Management and AI
Transnational management focuses on applying specific strategies and policies to manage operations within companies that work across borders. Due to the complexity of the international trade regulations and other aspects of transnational management, there are multiple processes involved in this domain. AI can have a beneficial impact due to its capability to use a multitude of algorithms and study impressive amounts of data. Moreover, transnational management can be challenging in terms of regulatory and political differences between the countries. A good example is a COVID-19 pandemic and its influence on the trade relationships between actors within a supply chain, business partners, etc. During the pandemic, each country had specific restrictions and preventative measures.
Transnational management was compromised due to the different quarantine policies that governments have installed. With artificial intelligence, the problem would be minimal since no people would be involved in creating an effective algorithm and due to the capacity to examine terabytes of data in a short period of time. In the post-COVID-19 world, employers would more likely choose less human involvement since the pandemic has proved that telecommuting is an effective and affordable solution. Yet, the need for artificial intelligence to manage all the processes increases with the extensive use of remote work.
Overview
I was impressed by the fact that the article presented the two sides of artificial intelligence from an objective perspective since the general implementation of AI is almost inevitable. Moreover, I agree with the conclusion that developing countries such as Turkey may take developed countries as examples of how to deal with the new changes. AI will definitely become the technology that will be used in every single industry, and it is essential to plan ahead and minimize possible risks by taking specific measures such as retraining employees with jobs in manufacturing, creating new opportunities for certain individuals, and researching all the probable implications that will occur after the new technology becomes omnipotent.
Moreover, I was impressed by the numbers of the expected global GDP and the potential for AI to be used in the energetic industry. The growing technology will definitely revolutionize the world, and it is vital to be economically and socially prepared.
Reference
Emen, T. (2020). The potential economic effects of artificial intelligence. Turkish Policy Quarterly. Web.
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