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Report on Robots and AI technologies

Student Name:
Professor Name:
Institution Name:
Date: 29/04/2021
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Table of Contents

1. Introduction..............................................................................................................................3
2. Literature Review.....................................................................................................................4
3. Opportunities of Adopting Robots and AI...............................................................................7
4. Negative impact of Robots and AI on health, privacy and security.........................................8
4.1 Negative Impact on Health...............................................................................................8
4.2 Negative Impact on Privacy and Security........................................................................8
5. Application of Robots and Artificial Intelligence in Project Management..............................9
6. Future of Robots and Artificial Intelligence Technologies....................................................10
7. Summary and Conclusion of Report......................................................................................11
References......................................................................................................................................12
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1. Introduction

Robots are multipurpose, automatically operated, reprogrammable devices that can perform a

range of tasks. AI is traditionally characterized as a machine's capacity to solve business

problems and execute cognitive tasks similar to those performed by human brains: perceiving,

understanding, understanding, and problem solving are only a few examples. Artificial

Intelligence is widely recognized as robotics' most exciting area. While everyone in the modern

world recognizes that a robot can operate on an assembly line, there is no universal agreement

that robots are intelligent. Robots and AI, on the other hand, may be introduced independently or

as a single product, as their effect is visible in all cases.

AI as a separate technology has greater impact on the organizational performance, productivity

and competitiveness (Shrestha, Krogh, 2019). AI has the ability to help businesses improve their

production and competitiveness in a variety of ways, not only by enhancing internal processes

(Wamba-Taguimdje, Wamba, et al, 2020). It may even assist in rethinking how things are done.

If we build a system that learns from its failures and automatically compensates for errors when

it runs, we've successfully merged AI and robotics using AI.

Robots help businesses become more productive and successful. This is particularly important

for small and medium-sized enterprises (SMEs), which are the backbone of both developed and

developing economies. It also helps multinational firms increase their competitiveness by

helping them to manufacture and sell goods faster. Robotics are now helping companies in

countries with high costs to "reshore," or return to their original position, portions of the supply

chain that were formerly outsourced to cheaper labor sources. The biggest challenge to jobs right

now isn't technology, but rather a failure to stay competitive. The impact of Robots and AI

technologies may be positive and negative to some extent.

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Artificial intelligence and robotics technologies have the potential to drastically reshape

businesses and alter organizational structures (Dirican, 2015). The implementation of artificial

intelligence and robotics technology is expected to change the skill set and activities required by

many professions. This innovation would reshape companies and push businesses to restructure

themselves to prepare for these developments based on that factor alone.

Robotic artificial intelligence-based machinery and systems are being deployed in various

organizations since these systems help to mobilize the organization's success while also

contributing to the systems' rapid and quick growth (Brougham, Haar, 2017). Increased use of

artificial intelligence and robotics technologies has the ability to significantly minimize costs

within businesses, ultimately resulting in less consumer purchases. There are a few key aspects

in which AI and robotics are used in today's global manufacturing market. As a result, this report

will attempt to assess the significance of these technologies in today's modernized world, as well

as their consequences. The study will also discuss the future of these innovations and how they

are being used in the corporate world.

2. Literature Review

Both AI and Robots, according to Soni and Sharma (2018), are extremely important in today's

globalized business landscape, as this is considered as the most thrilling period in human history,

with new technological advances emerging every day. Robots are used in sectors such as self-

driving vehicles and smart watches that track a patient's fitness. In the other hand, AI is capable

of outperforming champions in games such as Go and Chess, which are among AI's technical

advancements. Today, nearly every company needs to have an AI company because it increases

total efficiency, saves money and resources, reduces human mistakes, allows for quick

management decisions, and also helps with revenue maximization (Soni, Kapoor, 2020).
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Other researchers Altervoits, Koenig, and Likachev (2016) look at the benefits and drawbacks of

these developments. According to them, these advances have made significant strides in recent

years in terms of planning robotics, allowing robots to computer-control behavior and gesture in

order to accomplish difficult goals such as flight, walking, or driving. These writers claim that

robots that have been commercially released in the real world have little to no preparation

capabilities because they are manually trained to obey guidelines. Robots, on the other hand,

have become fiercely competing in their niches, with a lack of expertise restricting the amount of

activities they will do (Alterovitz & Likhachev, 2016).

The authors Kaplan and Haenlein (2020) have described a number of possibilities as well as

threats that AI and robotics can bring to the future world. According to them, robotics and AI

may be used for conflicts and other tactical uses in a variety of forms, including autonomous

drones and military robots, as well as exoskeletons, which would improve the power and stamina

of human soldiers. The advent of evil robots, on the other hand, may pose major risks and threats

to mankind. There are also possibilities that they will result in humanity's demise, as if AI

becomes more advanced, the risks could lead to zero survival (Kaplan & Haenlein, 2020).

According to Stancheva-Todorova (2018), artificial intelligence is posing a significant obstacle

for accounting practitioners, as recent advances in AI and robotics have begun to reshape the

environment and even transform different facets of people's lives as a result of technical

advancements. Businesses all over the world are also looking for new ways to increase profits,

reduce costs, and create new sources of demand (Stancheva-Todorova, 2018). Similarly, the

research undertaken by Morikawa (2017) explores how the artificial and human intelligence

problem has generated a number of contentious questions about the future of different

professions. Similarly, the accounting profession is undergoing significant change in order to

fulfill its role in businesses and perform well, but this evolution is bringing with it new
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challenges for the future, as it is clear that accountants will fail to adapt to the new business

environment and will fall behind (Morikawa, 2017).

In their paper, the writers Wirtz, Patterson, Kunz, Gruber, and Lu (2018) argue that further

development of robotics and AI would result in a high rate of unemployment in the near future,

as it will have a direct effect on incomes and workers. It is necessary to provide well-paid

workers in order to meet needs, but due to the rapid advancement in automation, it is projected

that low-wage and low-income jobs will be automated in the future. That would also lead to

racial inequity because only a small number of people will prosper from these innovations

(Wirtz, Patterson, Kunz, Gruber, 2018).

The researcher Floridi (2017), warned of a structural challenge to human jobs, but they also saw

it as an incentive for robots and humans to work together to provide services. Humans and

robotics should work together to offer more exciting and efficient work, as well as quality

facilities at a lower cost (Floridi, 2017). Another research undertaken by Huang (2018) shows

that it is now considered vitally important to realize how technological advancements are

affecting human workers and how they must be protected from high unemployment rates. In

order to counter the effects of AI job replacement, the author created a hypothesis of AI job

replacement. The theory explores how companies can choose between machines and people to

complete a task by exemplifying four intelligences for tasks: intuitive, analytical, mechanical,

and empathetic. According to the hypothesis, AI replaces workers at the work level rather than at

the position level. AI will first eliminate service workers, then human labor as it progresses from

lower to higher intelligence (Huang, 2018)

According to a report conducted by Subramanian (2018), AI's rapid growth has affected

numerous fields such as education, healthcare, and transportation. Robots are used to

communicate with the world, which requires the transfer of vast amounts of data, and this
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technology is transforming the economy, work, and defense. Such information relates not only to

the context and atmosphere, but also to the individual humans to which such robots are

connected, and it primarily contains confidential financial and health information. As a result, it

is reasonable to conclude that robot protection is a crucial requirement. It has an effect on both

robot and human stability. When humans are replaced by robots in areas such as child care, AI

creates a slew of ethical problems (Subramanian, 2018). According to Terry (2019), he states in

his paper that advances in healthcare AI are posing a significant threat to the appropriateness of

existing healthcare regulatory models. Initially, AI in healthcare brings together innovations like

mobile wellness apps and big data by exposing flaws in the existing paradigm. The author

predicts that simplistic regulatory frameworks like "unsafe" and "stable" will be questioned in

the near future. The laws of AI necessitate new thought and the adoption of ethical principles in

order to do this. It's critical that AI language processing and others take care of the importance of

allowing doctors to focus on patients rather than technology (Terry, 2019).

3. Opportunities of Adopting Robots and AI

Today, the planet is in the midst of technological revolution, and advancements in technology

such as artificial intelligence (AI) and robotics have the ability to change the world by opening

up new doors. Deep learning, computer vision, collaborative systems, natural and machine

learning processes have all been made possible by these developments. As an example, when

people post photographs to Facebook, it recognizes images. Technology, on the other hand,

creates more openings in areas such as mobility, hospitals, public safety, culture, and education,

as well as assisting in the advancement of other industries. Robotics and artificial intelligence

(AI) also improved the quality of life and opened up new possibilities. They have a great deal of

opportunity to add expert experience to the table to place the person anywhere on the planet and

help them as a virtual mentor (Flynn & Robu, 2017). They are, however, offering a wide range
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of resources, including links to production processes that were previously out of scope for garden

shed innovators. They offer an incentive for wealth formation in impoverished nations. For

example, AI is assisting developing-country communities in implementing local green energy

schemes by automating and tracking them in the same way as a doctor might. This means that

economies are not engaging in excess electricity trading with other service organizations.

Furthermore, they are enabling human-machine interaction as AI becomes more adaptable and

advanced to the needs of individuals as it becomes more fluid and customized (Nishant, Kennedy

& Corbett, 2020).

4. Negative impact of Robots and AI on health, privacy and security

4.1 Negative Impact on Health

Hundreds of people's health and livelihoods have been jeopardized as a result of the advent of

these inventions, particularly the working class and their families. AI's revolution threatens to

obliterate humans from work on a massive scale. However, AI has the potential to be a source of

intense tension, as it has the power to induce rumination, which leads to depression. Deep stress

has been identified as the primary source of anxiety, resentment, confusion, and indignation, as it

can jeopardize an individual's sense of self, personality, and self-awareness. This stress

eventually leads to self-destruction, just like cancer's malignant development. 90% of suicides

are caused by stress brought on by the insecurity of occupations that are being replaced by AI

and robotic technologies (Carr, 2020).

4.2 Negative Impact on Privacy and Security

Robots and artificial intelligence (AI) are two of the most important and recent inventions

affecting anyone and everything in our digitalized world. Across the globe, organizations and

engineers are designing innovative tools and methods to apply machine learning. As a weapon in
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the hands of hackers, robots and AI are influencing privacy and security in a variety of negative

ways. However, computer security experts claim that weaponized AI poses a larger threat to

customers by making the real world less secure to operate in. For example, some of the strongest

VPNs leak their DNS as though the data were leaked every day by millions of people, allowing

AI to make all of the requisite connections to coordinate a wide range of attacks against

defenseless users (Subramanian, 2018).

Furthermore, such technologies, such as the advancement of robots and the concept of smart

homes, have had major negative consequences, jeopardizing security and privacy. It has made it

simpler for households to react to some danger, still those gadgets are vulnerable to hackers.

Hackers are able to exert power over people's lives in this way. Transport, banks, insurance

agencies, and other businesses, on the other hand, become victims.

5. Application of Robots and Artificial Intelligence in Project Management

Any automation project's most important aspect is project management. The project management

field is not resistant to AI's influence. There are different stages of a project's development,

during which humans execute various physical activities that become more complicated when

done by computers. To use AI in project management, project managers must accept

technologies and use AI to improve the project's performance and probability. When applied to

projects, processes, and achieving every task, humans have been seen to have specific thought

abilities. They have the ability to generate new ideas and feedback that can help the project reach

its goals (Branscombe, 2018). However, AI is being used to optimize and simplify the sets of

data used in project execution, allowing organizations to understand optimum project

investments and find savings which could be used to fund additional improvements in product

creation, eventually leading to an organization's expansion. Through integrating advanced

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intelligence into monitoring operations, project managers may turn around projects. Managers

should consider scheduling and budgeting limits when making risk management choices, and

when they do, fair rivalry ensues. Furthermore, it is critical that the right individuals collaborate

to keep the initiative on track, as AI delves into the experience of previous programs to offer

real-time insight on resource interaction. AI enables employees to have remote access to

instruction, allowing them to easily develop their experience and skills. Which further reduces

the amount of time spent on new proposals, allowing the project to contribute to customers faster

and achieve guidance on project deployment (Skinner, 2021).

6. Future of Robots and Artificial Intelligence Technologies

Robots and artificial intelligence (AI) have begun to astound the environment as technology

advances. There isn't a single sector that hasn't been impacted by these. Robotics is the fastest-

growing industry, with a forecast valuation of $77 billion by 2022, which is more than twice

what it was in 2017. AI is now the at a higher rate, with revenues rising from $700 billion in

2017 to $1.2 trillion in 2018, and forecasting a $3.2 trillion market by 2022. As a result, both

inventions have a sizable demand, and combining them can also improve people's lives (Brahme,

2018).

However, according to a Forrester survey, by 2021, these developments would have eliminated

about 6% of all employees. It has been observed that technical advancement has occurred in the

past, and that the next generation will use AI and robotics to streamline processes that are

actually performed by humans, thus altering the job market (Torresen, 2018). The aim of these

developments, for example, is to create a self-driving vehicle that is perceived to be safer. AI is

also being sought by public transit and logistics providers to develop self-driving trucks, taxis,

and buses. Furthermore, AI has already found its way into the home, but it is predicted to
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become indispensable in the near future. The integration of AI and robotics would bring the

computing world's promise to fruition and life simpler as the world moves closer to technology.

These innovations enable people to live healthy and happier lives while also saving money,

electricity, and time (Minsky, 1992).

7. Summary and Conclusion of Report

Robots and artificial intelligence (AI) are the most innovative technologies in this transformed

world, since they have huge impacts on businesses and even people's everyday lives. To

understand the views of many authors, a comprehensive literature review was conducted, which

addressed the fact that while many of these advancements have several benefits, such as helping

to save time, energy, and capital, they also have numerous risks, such as disrupting the labour

market and resulting in a high rate of unemployment because workers are now being replaced by

machines. Both of these tools provide a variety of market possibilities because they have the

ability to deliver expert expertise to individuals remotely anywhere on the planet to assist them

in the interactive mentorship.

It can also be used in project management to ensure that the project is completed on time. When

AI taps into the archives of previous programs to provide real-time insights on resource

engagement, it's vital that the right people are on the job. The future of AI is a contentious topic,

with many people debating whether it would be beneficial or harmful to the environment. As a

result, as recent technologies are replaced by significant advancements, these innovations will

continue to evolve. It's hard to say how far these technologies will go, but they'll undoubtedly

become an integral part of everyone's lives, as they've already forced us to use AI-driven

technology without even realizing it.

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