Daniel Franke

Mrs.Mikuzis
College Comp
10-24-24
The Effects of Artificial Intelligence

Although people are scared of the possibilities of Artificial Intelligence in the future,

many are hopeful for the implementation of AI in the future. AI is both helping and hurting many

fields of work by slowly replacing jobs previously held by humans while also increasing

efficiency and cost-effectiveness. AI robots do not need a salary or benefits. AI is also a very

useful tool in the stock markets and scientific research that can help many people tremendously.

It is often said that AI will “cause a “significant” drop in employment opportunities for

low-skilled workers, and pose challenges to employees in sectors such as pharmaceuticals,

plastic making, and manufacturing of electronics…”(Einola 1). Manufacturing jobs are one of

the jobs that have been significantly impacted by the implementation of AI. While AI has made

various processes, such as manufacturing, quality control, and inventory management of

products smoother, it has also led to a loss in jobs worked by humans. With the automation of

simple tasks, many common roles in the line of production have been replaced by machines that

use artificial intelligence, thus the loss of jobs. The implementation of AI has significantly

transformed customer service jobs as well. Introducing chatbots and virtual customer service

bots to handle simple customer questions and support moderate requests has changed the online

customer service experience. Although a 2019 study reported that “86% of customers prefer

humans to chatbots for interactional service”(, AI has improved response times and enabled 24/7

customer support for many companies. While AI has made it faster and easier to receive support,

it has yet again impacted the amount of human employment in businesses. Another line of work
that has been impacted by AI implementation is the pharmaceutical industry. AI has

revolutionized several aspects of drug discovery, research, and production. AI technologies have

enhanced the process of finding potential drugs and predicting patient response to many

treatments, leading to more efficient research in developmental processes.

AI has proven to be a powerful tool in the business of drug discovery,

revolutionizing the standard approach to identifying and developing potential drugs. By using

algorithms, AI can quickly analyze datasets and predict how molecules will interact, significantly

improving the time the initial stages of the drug discovery process take. AI tools can quickly sort

through candidates of drugs and sift out the ones with the highest possibility to work and be

successful, while also illuminating any trial and error costs adopted from testing. Scientists are

then able to take the most viable candidates for drugs and test, research, and discover them

deeper to pick the absolute perfect candidate. Furthermore, AI has significantly shaped

healthcare even more, by enabling more accurate predictions of patient responses to various

treatments. By using very similar algorithms that it uses in the sorting of drug candidates, AI can

look at patient data, medical history, genetic abnormalities, and treatment outcomes, to identify

patterns that often lead to different responses to various treatments. The AI can then also sort the

treatments for specific patients leading to little to no trial or error in finding the right treatment

which could save lives or reduce an immense toll on patient health.

While AI may be more time efficient, are these AI robots more economically efficient

than humans? The economic impact of job loss from AI implementation is another large impact

AI has had on work life. While some businesses and lines of work may experience few

disruptions others may experience “significant economic and social losses globally”(Song 1) but

the long-term economic effects for companies can include increased income and cost savings due
to not needing to pay human employees or deal with work-related injuries and other problems.

This may lead to income inequality due to many low-income families having “traditional”(Song

1) jobs that are slowly being replaced by AI. In return, this may create more highly skilled jobs

therefore giving the average worker more opportunities to become a higher value, higher paid

employee.

Another way that AI can help economically is by predicting some stock moves. AI can

analyze extremely large quantities of historical financial data much like it does when analyzing

data for potential drugs and treatments, trends in markets, and various other signs to identify

patterns that humans may not see. By recognizing correlations in the data, AI can make

predictions about potential stock movements based on the history of the stock and market

conditions. Big banks and companies “are beginning to use it to automate some jobs”(Hajric et al

1). AI can also assess the risk by providing insights into potential market changes and

recognizing possible risks. By analyzing historical data once again, AI can help investors

develop strategies to reduce risk while trading. AI tools can also assist in organizing the

portfolios of investors to reduce trade risk even more by suggesting strategies to use, and making

risk-adjusted investment decisions. By analyzing factors such as risk, goals, and market

conditions, AI can suggest portfolio tweaks that will be able to maximize return and minimize

the risks associated with stock trading. Another popular way to use AI in Wall Street is the“stock

picker” You can enter a prompt into the AI tool and it will automatically find the best fit stock to

the prompt you entered. For example you can enter the prompt “"best growth stocks"”(Guberti 1)

and the tool will suggest stocks that are the best for growth over time.
 AI is used more regularly in some countries than others, but ultimately it is the “space

race of our time”(Fatima et al 1). Many countries such as “France, Germany, New Zealand, and

the United States”(Fatima et al 1 ) recognize that they play a massive role in the development of

AI in their country and are doing their best to help with implementation. On the other hand there

is a rising hesitation with the implementation of AI in some countries. This hesitation stems from

the idea that AI will “surpass human intelligence and ultimately become autonomous” (Pesen 1).

This means that AI will be able to make decisions for itself without any human input leading to

potentially catastrophic outcomes.

Several countries have begun to exercise caution in the implementation of AI due to

various concerns that have surfaced in light of its very quick development. One key reason for

this is the worry of the potential impact of AI on employment like mentioned previously.

Consequently, some countries are adopting a more measured approach to AI implementation to

safeguard their workforce and ensure a smooth transition to a more automated future. Some other

concerns relating to AI is the issue of privacy. What are chatbots doing with our data once sent?

These curiosities have prompted a need for regulations and outlines to control the responsible use

of AI. By taking a slow approach, these countries are trying to balance the benefits of AI with the

need to protect human rights, privacy, and social well-being.

Though the most common implementations of AI in society may be in factories or

manufacturing plants, or simpler chat bots like the ones found on your computer or phone, there

are other more complex ways AI is assisting us. In the realm of scientific discovery, artificial

intelligence has emerged as an extremely useful tool, revolutionizing the way researchers

approach some more complex problems and analyze data. AI is also “mining archival materials

to understand the human impact of the Industrial Revolution” (Clark et al 1). Not only can AI
mine materials, it can also predict “protein structures with DeepMind’s AlphaFold”(Clark et al).

AI uses machine learning algorithms to accelerate research and simplify and read data.

In conclusion, the impact of AI on the world is immutable, as it continues to completely

re-shape several aspects of our lives, from healthcare to finance and manufacturing. Its enormous

potential is obvious in the efficiency and precision it yields to complex tasks, enabling

breakthroughs in fields such as medicine, and scientific research. However, this widely used

artificial intelligence also raises some red flags regarding data privacy, and the eviction of jobs.

As AI continues to evolve, it is incredibly important for everyone to work together in creating

robust regulations and outlines that promote the responsible and inclusive deployment of AI

technologies. By slowly implementing AI's capabilities while still addressing its associated

problems, we can use AI to create a better, safer, smarter world.

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