The Impact of Artificial Intelligence on Innovation

Abstract

Artificial intelligence has the potential to greatly increase the efficiency of the current life in which we live. However, it may result in more impacts through its application as the modern mode in invention and bring a new perspective of the existing innovation processes in the organization of R & D. Application of machines' intelligence such as robots from the recent development is a vivid example of invention brought about by the innovation filtered via artificial intelligence. Innovative ways through invention have a sense of replacement in man's duties in the world's varied economic sectors. Large datasets and algorithms will be used in research industries, and the latter will result in potential racing, monitored incentives by large companies, and particular algorithms. However, transparency and transfer of information between public and private will be the engine source to stimulate healthy inventions and innovation programs shortly. Rapid advancement in the artificial intelligence arena has significant sound impacts on society as far as the economy is concerned. Production and characteristics of many products and services have a high potentiality to be directly influenced by these innovations, and important productivity, competition, and employment implications. Even though these innovations will positively influence the largest proportion of human lives, artificial intelligence (A.I.) can potentially change its innovation processes, accompanied by approximately thoughtful consequences, and may gradually dominate the direct consequence.