The Economics of Artificial Intelligence

The Economics of Artificial Intelligence
Author: Ajay Agrawal
Publisher: University of Chicago Press
Total Pages: 172
Release: 2024-03-05
Genre: Business & Economics
ISBN: 0226833127

A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.

Artificial Intelligence in Production Engineering and Management

Artificial Intelligence in Production Engineering and Management
Author: Carolina Machado
Publisher: Woodhead Publishing
Total Pages: 251
Release: 2024-07-02
Genre: Technology & Engineering
ISBN: 0128196165

Artificial intelligence (AI) plays a crucial role in production engineering and management, revolutionizing operation optimization, data analysis, forecasting, and task automation. In production engineering, AI contributes to operational efficiency by identifying patterns, predicting failures, and optimizing supply chains. In management, it offers predictive and prescriptive insights, allowing quick adaptations to changes in market conditions. However, it is essential to address ethical challenges, such as data security and workforce impacts, to ensure responsible and sustainable implementation of AI in these contexts.Among the different topics covered in Artificial Intelligence in Production Engineering and Management, the reader can find: living in the age of AI; machine learning and large language models; AI and people management; nudging financial behavior with AI; the European Union narrative on AI; multidimensional transhuman influence; and AI, emotional intelligence, and ethics. This topical book will be of great value for those working and researching in the production engineering and management fields who are seeking to understand and capitalize on the revolutionary shift that artificial intelligence brings to modern engineering and management. - Combines research in AI from the fields of production engineering and management to provide effective solutions to problems with interdisciplinary relevance - Offers a comprehensive view of the possibilities that artificial intelligence brings to production engineering and management - Inspires reflection, innovation, and a renewed appreciation for the ability of technology to redefine, improve, and transform the foundations of production engineering and management

Artificial Intelligence-Enabled Digital Twin for Smart Manufacturing

Artificial Intelligence-Enabled Digital Twin for Smart Manufacturing
Author: Amit Kumar Tyagi
Publisher: John Wiley & Sons
Total Pages: 628
Release: 2024-10-15
Genre: Computers
ISBN: 1394303572

An essential book on the applications of AI and digital twin technology in the smart manufacturing sector. In the rapidly evolving landscape of modern manufacturing, the integration of cutting-edge technologies has become imperative for businesses to remain competitive and adaptive. Among these technologies, Artificial Intelligence (AI) stands out as a transformative force, revolutionizing traditional manufacturing processes and making the way for the era of smart manufacturing. At the heart of this technological revolution lies the concept of the Digital Twin—an innovative approach that bridges the physical and digital realms of manufacturing. By creating a virtual representation of physical assets, processes, and systems, organizations can gain unprecedented insights, optimize operations, and enhance decision-making capabilities. This timely book explores the convergence of AI and Digital Twin technologies to empower smart manufacturing initiatives. Through a comprehensive examination of principles, methodologies, and practical applications, it explains the transformative potential of AI-enabled Digital Twins across various facets of the manufacturing lifecycle. From design and prototyping to production and maintenance, AI-enabled Digital Twins offer multifaceted advantages that redefine traditional paradigms. By leveraging AI algorithms for data analysis, predictive modeling, and autonomous optimization, manufacturers can achieve unparalleled levels of efficiency, quality, and agility. This book explains how AI enhances the capabilities of Digital Twins by creating a powerful tool that can optimize production processes, improve product quality, and streamline operations. Note that the Digital Twin in this context is a virtual representation of a physical manufacturing system, including machines, processes, and products. It continuously collects real-time data from sensors and other sources, allowing it to mirror the physical system’s behavior and performance. What sets this Digital Twin apart is the incorporation of AI algorithms and machine learning techniques that enable it to analyze and predict outcomes, recommend improvements, and autonomously make adjustments to enhance manufacturing efficiency. This book outlines essential elements, like real-time monitoring of machines, predictive analytics of machines and data, optimization of the resources, quality control of the product, resource management, decision support (timely or quickly accurate decisions). Moreover, this book elucidates the symbiotic relationship between AI and Digital Twins, highlighting how AI augments the capabilities of Digital Twins by infusing them with intelligence, adaptability, and autonomy. Hence, this book promises to enhance competitiveness, reduce operational costs, and facilitate innovation in the manufacturing industry. By harnessing AI’s capabilities in conjunction with Digital Twins, manufacturers can achieve a more agile and responsive production environment, ultimately driving the evolution of smart factories and Industry 4.0/5.0. Audience This book has a wide audience in computer science, artificial intelligence, and manufacturing engineering, as well as engineers in a variety of industrial manufacturing industries. It will also appeal to economists and policymakers working on the circular economy, clean tech investors, industrial decision-makers, and environmental professionals.

Artificial Intelligence for Smart Manufacturing

Artificial Intelligence for Smart Manufacturing
Author: Kim Phuc Tran
Publisher: Springer Nature
Total Pages: 271
Release: 2023-06-01
Genre: Technology & Engineering
ISBN: 3031305108

This book provides readers with a comprehensive overview of the latest developments in the field of smart manufacturing, exploring theoretical research, technological advancements, and practical applications of AI approaches. With Industry 4.0 paving the way for intelligent systems and innovative technologies to enhance productivity and quality, the transition to Industry 5.0 has introduced a new concept known as augmented intelligence (AuI), combining artificial intelligence (AI) with human intelligence (HI). As the demand for smart manufacturing continues to grow, this book serves as a valuable resource for professionals and practitioners looking to stay up-to-date with the latest advancements in Industry 5.0. Covering a range of important topics such as product design, predictive maintenance, quality control, digital twin, wearable technology, quantum, and machine learning, the book also features insightful case studies that demonstrate the practical application of these tools in real-world scenarios. Overall, this book provides a comprehensive and up-to-date account of the latest advancements in smart manufacturing, offering readers a valuable resource for navigating the challenges and opportunities presented by Industry 5.0.

Machine Learning for Sustainable Manufacturing in Industry 4.0

Machine Learning for Sustainable Manufacturing in Industry 4.0
Author: Raman Kumar
Publisher: CRC Press
Total Pages: 261
Release: 2023-11-02
Genre: Technology & Engineering
ISBN: 1000986241

The book focuses on the recent developments in the areas of error reduction, resource optimization, and revenue growth in sustainable manufacturing using machine learning. It presents the integration of smart technologies such as machine learning in the field of Industry 4.0 for better quality products and efficient manufacturing methods. Focusses on machine learning applications in Industry 4.0 ecosystem, such as resource optimization, data analysis, and predictions. Highlights the importance of the explainable machine learning model in the manufacturing processes. Presents the integration of machine learning and big data analytics from an industry 4.0 perspective. Discusses advanced computational techniques for sustainable manufacturing. Examines environmental impacts of operations and supply chain from an industry 4.0 perspective. This book provides scientific and technological insight into sustainable manufacturing by covering a wide range of machine learning applications fault detection, cyber-attack prediction, and inventory management. It further discusses resource optimization using machine learning in industry 4.0, and explainable machine learning models for industry 4.0. It will serve as an ideal reference text for senior undergraduate, graduate students, and academic researchers in the fields including mechanical engineering, manufacturing engineering, production engineering, aerospace engineering, and computer engineering.

Industry Applications of Thrust Manufacturing: Convergence with Real-Time Data and AI

Industry Applications of Thrust Manufacturing: Convergence with Real-Time Data and AI
Author: Satishkumar, D.
Publisher: IGI Global
Total Pages: 390
Release: 2024-03-04
Genre: Technology & Engineering
ISBN:

In manufacturing, entrenched challenges like costly maintenance, operational inefficiencies, and product defects loom large, casting shadows over industry progress. Despite the promise of Industry 4.0 and the proliferation of data-driven technologies, many enterprises need help to effectively harness the transformative power of artificial intelligence (AI). The gap between AI's potential and its practical application persists, hindering manufacturing companies from achieving optimal efficiency, competitiveness, and sustainability. Industry Applications of Thrust Manufacturing: Convergence with Real-Time Data and AI is a groundbreaking book meticulously crafted to address the pressing needs of academic scholars and industry professionals. Offering a nuanced exploration of AI's role in revolutionizing manufacturing, this book serves as a beacon of clarity amidst the complexities of modern industrial landscapes. Whether seeking to optimize operational workflows, mitigate risks, or unlock untapped opportunities, this definitive guide offers invaluable insights and actionable strategies to propel manufacturing enterprises into a future of innovation, efficiency, and sustainable growth.

Digital Transformation, Artificial Intelligence and Society

Digital Transformation, Artificial Intelligence and Society
Author: Sachin Kumar (Computer scientist)
Publisher: Springer Nature
Total Pages: 218
Release: 2024
Genre: Artificial intelligence
ISBN: 9819756561

This book examines the fundamental concepts and principles of digital transformation and AI, including their historical development, and underlying technologies, and analyzes the opportunities arising from digital transformation and AI in different sectors, such as healthcare, finance, education, transportation, and governance. It provides a comprehensive overview of digital transformation and AI technologies and their current state of implementation. It also explores the potential challenges and risks associated with digital transformation and AI, including ethical considerations, job displacement, privacy concerns, biases, impact on inequality, social interactions, and the overall well-being of individuals and communities. Additionally, the books provides and discusses policy and regulatory frameworks that can effectively address the opportunities and challenges posed by digital transformation and AI leading to responsible AI. It also delves into impact of automation on the job market and workforce. The book concludes by proposing potential strategies for navigating opportunities and challenges of digital transformation and AI integration. It emphasizes the need for interdisciplinary collaboration among stakeholders, including policymakers, industry leaders, academia, and civil society, to develop a comprehensive approach towards harnessing the full potential of digital transformation and AI and associated technologies. The book employs a multidisciplinary approach, drawing from various fields such as computer science, sociology, philosophy, political science, economics, law and governance. It combines theoretical analysis, empirical case studies, and expert perspectives to provide a holistic view of the subject matter. This book caters to a diverse audience, including students, researchers, academics, policymakers, industry professionals, and technology enthusiasts. It provides a valuable resource for those seeking a comprehensive understanding ofthe opportunities and challenges arising from the integration of digital transformation and AI in society.

Biomedical Research Developments for Improved Healthcare

Biomedical Research Developments for Improved Healthcare
Author: Prabhakar, Pranav Kumar
Publisher: IGI Global
Total Pages: 411
Release: 2024-03-04
Genre: Computers
ISBN:

A chasm grows between the currently established knowledge and the rapidly evolving landscape of healthcare. As the field of biomedical research hurtles forward with groundbreaking discoveries and transformative technologies, academic scholars find themselves grappling with a significant dilemma. There exists a disconnect between traditional educational resources and the need to keep pace with the latest innovations that are reshaping medicine, diagnosis, and treatment. This widening gap inhibits scholars from adequately preparing their students and hampers their ability to engage in relevant, cutting-edge research, ultimately impeding the advancement of healthcare as a whole. Biomedical Research Developments for Improved Healthcare serves as the ultimate solution to this academic challenge. This book offers a compelling bridge between the realm of academic theory and the dynamic world of practical, real-world biomedical research. Its primary objective is to equip scholars with the knowledge, insights, and materials needed to inspire the next generation of healthcare professionals. By presenting a comprehensive overview of the most recent and groundbreaking advancements in biomedical research, the book enables scholars to transcend the limitations of traditional academia and empower their students with up-to-date, practical knowledge.

Generative AI and Multifactor Productivity in Business

Generative AI and Multifactor Productivity in Business
Author: Adedoyin, Festus Fatai
Publisher: IGI Global
Total Pages: 302
Release: 2024-04-26
Genre: Computers
ISBN:

As organizations grapple with the challenges of a dynamic market, the integration of Artificial Intelligence (AI) emerges not only as a technological progression but a strategic necessity. The transformative potential of AI, particularly through OpenAI, holds the promise of redefining operational paradigms, accelerating innovation, and unlocking unprecedented growth opportunities. However, lurking beneath this promise are challenges that demand urgent attention – from tailoring relevance for specific business units to ethical and safe integration practices. The specifics of how OpenAI can amplify labor productivity and enhance decision-making processes remain elusive. Generative AI and Multifactor Productivity in Business offers a guide surrounding the complexities of OpenAI's role in business operations. It contends that understanding OpenAI is not just beneficial; it is essential for organizations seeking to navigate economic uncertainties and unlock high levels of efficiency and growth. The book delves into the effects of OpenAI on business, with a primary objective of illuminating the scholarly and practitioner-based contributions that push the boundaries of OpenAI in business research. This exploration encompasses applications of advanced generative AI tools, language models, and innovative technologies specific to diverse businesses across sectors, scales, and regions. It emphasizes that as AI becomes more seamlessly integrated into business processes, the potential for multifactor productivity to fuel economic growth, new industries, and job opportunities is unparalleled.