the ability of a computer to perform complex tasks without autonomy and adapt as more data is collected
communication: +ve social impact
enables diverse cultures to interact & share ideas w/ one another
social networking sites have allowed users to remain connected with friends, family & colleagues over long distances
artificial intelligence automatically transcribes & translates speech into different languages
communication: -ve social impact
use internet to reinforce own opinions or spread rumours & misinformation
use of AI and social networking sites to promote content based on views and engagement rather than level of accuracy
communication: economic impact
rise of social media led to increase use of social media for marketing and helped businesses understand buying habits and consumer needs through analysing social media posts
reduce business costs through use of cheap and effective video conferencing calls in place of face-to-face meetings
education: +ve social impact
technology has provided better videos (eg Youtube), simulation (eg Phet) and collaboration tools (eg Google slides) to make lessons more interesting
education is made more accessible to all, especially those from disadvantage backgrounds
AI made it possible to provide personalised learning and testing
education: -ve social impact
students' attention spans are getting shorter due to technology and social media that they use today
education: economic impact
open courseware resulted in for-profit & non-profit organisations offering customized lessons for online self-study
huge investments were made in materials & infrastructure to allow lessons to be conducted online
finance: +ve social impact
consumers can spend, borrow, invest & save money through low cost and easy-to-use mobile and web applications and not in person
better financial literacy as personal finance information are available online for free
payments are more convenient with the use of biometric authentication
finance: -ve social impact
increased threats to privacy and security of personal data
increased vulnerability to financialscams and get-rich-guideschemes due to ease of obtaining false information on internet
finance: economic impact
growth of financial technology to reduce time, cost and effort for payments, investments, fundraising, trading and/or data analytics for both businesses and individuals
rise in algorithmic trading reduces the time needed to perform a financial trade from seconds down to microseconds
banks use AI to analyse transaction data and automatically identify unusual spending patterns and money transfers to help them detect and prevent instances of financial fraud
healthcare: +ve social impact
technology enabled telemedicine which gives patients located in remote areas or with limited mobility healthcare access
AI can automatically identify warning signs of possible health problems and provide more accurate diagnoses
healthcare: -ve social impact
use of robots and technology may be impersonal
patient trust on ability of machines to provide proper healthcare is not there yet
data privacy issues with the use of medical data to improve performance of healthcare-related AI
healthcare: economic impact
new areas of growth such as provision of telemedicine solutions to existing healthcare businesses e.g. secure ways to transfer sensitive medical information online
improved automation of healthcare processes through use of robots e.g. dispensing medicine & other menial tasks
3D-printing makes building and customization of prosthetic limbs, hearing aids and dental fixtures possible
transportation: +ve social impact
improved predictability and ease due to availability of maps and real-time information (e.g. bus frequency, traffic congestion levels) around the world
AI uses location data to improve accuracy and relevance of many or traffic data displayed
transportation: -ve social impact
data privacy not respected for people whose pictures or information about their homes may be used for mapping without their permission (e.g. location data from mobile devices)
transportation: economic impact
rise of self-driving vehicles with the use of AI will open areas of growth in travelling and motor vehicle industry
on-demand rides via mobile applications lead to sweeping changes in the taxi service industry
growth in mapping technology has lead to increase focus on making 3D-models and geospatial data more accessible to travelers
entertainment: +ve social impact
enabled more exciting and engaging forms of entertainment (e.g. games have active online communities which bring participants together in the real world through in-game incentives to meet up)
AI makes it possible to provide accuraterecommendations for consumers based on collected data of their previous choices of entertainment
entertainment: -ve social impact
gaming and social networking site addiction is a big problem
concern that such technologies cause people to become deficient in social skills
AI enables the creation of doctored image or video (e.g. Deep fake), causing publicalarm and allowing the spreading of falsehoods
entertainment: economic impact
games, animation & media are strong growth areas as a result of rise of high quality virtual reality, augmented reality & motion-tracking technology
businesses use monitoring technology and strategies from game design to provide rewards and incentives for work-related achievements