The Impacts of Robotics, Artificial Intelligence On Business and Economics

Abstract

In the Industrial Age that humanity has entered long time ago with steam series has caused to primitive mechanization in production. With the development of internet and mobile technologies, electronics, nano technology, advances in medicine, health and digital applications and so on speed up mechatronics studies nowadays. Last World Economic Forum holds an important place on the agenda of Robotics and Artificial Intelligence and the economists like Roubini, Stiglitz also entered in the discussion of robotics and artificial in intelligence impacts on economics and business. Although Stephen Hawking criticized on the risks in this regard, every day we are witnessing tremendous news and articles in business pages, regarding on these topics and obviously corporate life and professionals can no longer resist to these changes. Changing form of the business terms and work forces, the way of doing business by using new technologies will have serious impacts on the daily business life and deriving from these on countries and on world economics. Many items and headlines such as jobless ratio, Philips Curve, performance, management, CRM Analytics, customer relationship management, sales, strategic planning, mass production, Purchasing Power Parity, GDP, inflation, money, Central Banks, Banking System, coaching, training, accounting, taxes etc. regarding to business and economics will face serious dangers, hits, change, exposures as well as opportunities and gains with the improvements in Artificial Intelligence and Robotics. One simple example can explain the degree of these impacts: Should we continue to make provisions for severance pay of the company's staff or should we calculate reserve for depreciation / amortization of robots in the company, which side of the balance sheet will be managed by human resources managers or shall we still name human resources ? This conceptual and hypothetical paper is aiming to address and discusses the future of robots, mechatronics and artificial intelligence in different perspectives.