FPPP

Project Proposal Topic: Machine Learning

Why is this topic important to you?

We decided to delve into the topic of AI and, specifically, Machine Learning because it is on the forefront of innovation in technology with a projected growth of over $8 billion being invested in future research on its many uses. Artificial intelligence has proven to be more than a force of nature not only in the world of business, but in the field of science, medicine and many more growing markets. The potential that Artificial Intelligence provides for gathering important information and data that is applicable to its respective markets seems to be limitless with the growing improvements in this part of the tech world. With the inevitability of how the world is shifting towards relying more on technology than ever, the buzz around AI becomes even more relevant as a point of discussion. It is important to analyze emerging technologies that could change the roles humans have in society, and to figure out where exactly humanity will fit in as these technologies evolve.

How do you plan to approach this project?

This leads us to how our group intends to approach this project with our main question being, “Machine Learning and AI- Will this create more job opportunities or lead society towards further technological unemployment?” We will be analyzing the implications that emerging markets such as Machine Learning have on existing roles people currently fulfill and the impact new innovations in AI might have on said roles. Due to the fact that AI describes the intelligence of computers itself, we decided that it would be beneficial to hone in on Machine Learning since this describes the how when looking at what makes the computer smart. Researching this will give insight into what the future looks like for jobs like highway toll-takers who are being replaced by sensors made possible by Artificial Intelligence. Background Information:

Machine learning is a branch on the evolution tree of Artificial Intelligence (AI) and even over the last few years has gone through many of its own changes. With the increasing amount of data that is produced and stored every day in today’s world and its ever-increasing importance to businesses. Machine learning is becoming a necessity in today’s world to help decision-makers make sense of all the data. The next big step for machine learning is the beginning of automation and the process of machines learning from “training data” to make decisions on its own without being programmed to do so. These new models of machine learning are based on the human brain and how brain cells interact with each other. The scope of machine learning is growing every day as machines are becoming more and more integrated into human life.

Pros of Machine Learning:

There are many pros to machine learning and that is why we are seeing their growth and increasing importance on not only businesses and other professional industries but also the human daily life as well. Machine Learning and AI create the opportunity for automation of operations in business which can make the performing of some tasks more efficient and cost-effective. Machine learning can streamline and optimize the decision-making process and help human decision-makers make correct decisions faster. Humans are not perfect and we make mistakes all the time for a variety of reasons but with AI we are able to eradicate mistakes and simple errors in many tasks performed. In addition, AI and machines can eradicate unfulfilling and monotonous repetitive jobs and do those same jobs much faster.

Cons of Machine Learning:

Just like with everything else, too much of anything is bad and for everything good, there is a darker version and that is the “double-edged sword” of the growth and reliance on machine learning. Mentioned before AI can make the processes of a business more cost-effective and can eliminate and optimize repetitive jobs. But on the flip side, AI and new technology are expensive and machines are taking away jobs from humans every day. Buying and implementing machines and AI into a business can be very costly and in addition, will require constant maintenance, upgrades, and repairs. Despite all the good things that machines can do and the constant upgrades to try and make machines think like humans. Machines simply will never be able to replace the human brain because machines are not creative and can’t think outside the box. Lastly, with the increasing reliance on machines, we risk humans becoming lazy and unproductive.