• POST GRADUATE DIPLOMA IN MANAGEMENT
    Co-created with BIMTECH
    4.8 out of 6071 learners
    2x industry demand
  • PROFESSIONAL CERTIFICATION IN SUPPLY CHAIN MANAGEMENT AND ANALYTICS
    Co-created with IIT Roorkee
    4.8 out of 5 by 469 learners
    4x
  • CERTIFICATION IN ARTIFICIAL INTELLIGENCE and MACHINE LEARNING
    Co-created with E&ICT Academy, IIT Guwahati
    4.8 out of 5 by 621 learners
    4x industry demand
  • POST GRADUATE PROGRAM IN DATA ANALYTICS and MACHINE LEARNING
    4.8 out of 5 by 3278 learners
    14 X industry demand

In this current world, the global economy is in a problematic situation. Jobs for skilled workers have become stagnant and economic inequality is increasing. Besides, the planet is also in a vulnerable position now. Thus, as a critique of our current economic system, the idea of ‘economics of abundance’ has risen to prominence. This rejects the idea of living with scarcity-generating institutions that provide high value when kept on hold.  

Artificial intelligence (AI) is the solution for current economic change to bring in an economy of abundance. This economy is built to make the world sustainable, bringing in social equality and the freedom of self-expression. So, to be a part of this economic change, it is essential to understand artificial intelligence and machine learning in-depth. Furthermore, this change can bring in myriad job opportunities that will allow individuals to sustain themselves freely.

Importance of AI and ML in Economics of Abundance 

Millennials are growing in the generation of scarcity, where the economy is different. The modern age of youth understands that access is more important than ownership. Further, being more sustainable in this world means minimizing waste and providing emphasis on decentralization. Nevertheless, the below-mentioned pointers are some of the effects of artificial intelligence in enabling an economy of abundance. 

 

  • Cooperative Business

 

Today, the sharing of profits between coordinators and providers of goods and services is unbalanced. Hence, artificial intelligence can be implemented to create coordination and planning that provides more value to organizations and consumers. 

 

  • Health Infrastructure 

 

AI leads to affordable health care with early diagnostic facilities. Early detection of life-threatening diseases can provide ample time against emergencies. Apart from it, the shift from manual operation to AI control operations is preventive and proactive. More importantly, the healthcare system will become more affordable, thus making it accessible for all communities. Hence, to shift this paradigm, it is essential to learn machine learning and artificial intelligence.

best artificial intelligence courses by E&ICT Academy, IIT Guwahati

 

  • Open Learning 

 

The right to education can be significantly accomplished with the help of AI. Notably, AI can ease the individual education requirement at its own pace and assessment. Also, as the pandemic has triggered online education, this shift in dimension has a varied impact on tech-enabled learning. This helps students get massive access to academic materials by lowering the cost of education. 

 

  • Livable Cities 

 

AI-driven motilities have a significant impact on how cities are designed. Now, citizens are focusing on smart communication rather than mobility. This provides room for the diversity of citizens and richness within a culture. In the near future, the world will witness more and more smart cities with an emphasis on smart AI motilities. 

For example, London has around 20,000 ghost homes despite a growing number of homeless people and the cost of house rent. There is an apparent problem when houses are kept for wealth rather than shelter. Hence, AI can solve this problem and provide more shelters to homeless people.  

 

  • Energy 

 

The older generation has seen an abundant supply of energy resources such as coal and petroleum. But, as these are exploited unreasonably, they are on the brink of drying up. Hence, modern-day individuals are more interested in renewable energy that can provide sustainable energy for all. Thus, AI can efficiently supply and distribute power to all individuals in this scenario.  

Hence, knowing deep learning artificial intelligence can provide a chance to create a better and more sustainable world for upcoming generations. The idea of 'economics of abundance' has shifted the economic mindset completely of millennials. Also, artificial intelligence can create a world where everyone gets an equal opportunity in learning, earning, and food. However, arriving in this new dimension of the world is unlikely if we are not going to kick out the economy of scarcity. 

For Online Course Enquiries
About Imarticus
Imarticus Learning is India’s leading professional education institute that offers training in Financial Services, Data Analytics & Technology. We’ve successfully transformed careers of over 35,000+ individuals globally through our Certification, Prodegree, and Post Graduate programs offered in association with leading and renowned global organisations in the Financial Services, Data Analytics & Technology domain.
Related course
  • Finance
    POST GRADUATE DIPLOMA IN MANAGEMENT
    Co-created with BIMTECH
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 6071 learners
    2x industry demand
    Upcoming Batches
    Date Location Schedule
    Live Instructor - Led Training Online
    Date Location Schedule
  • Analytics
    PROFESSIONAL CERTIFICATION IN SUPPLY CHAIN MANAGEMENT AND ANALYTICS
    Co-created with IIT Roorkee
    Course duration()
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 5 by 469 learners
    4x
    Upcoming Batches
    Date Location Schedule
    21st November ONLINE Online
    Date Location Schedule
  • Placement Assistance
    CERTIFICATION IN ARTIFICIAL INTELLIGENCE and MACHINE LEARNING
    Co-created with E&ICT Academy, IIT Guwahati
    Course duration(Months)
    8
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 5 by 621 learners
    4x industry demand
    Upcoming Batches
    Date Location Schedule
    23rd October ONLINE Online
    Date Location Schedule
  • Post Graduation
    POST GRADUATE PROGRAM IN DATA ANALYTICS and MACHINE LEARNING
    Course duration(Months)
    5
    Upcoming batches
    1
    Organizations enrolled
    20
    4.8 out of 5 by 3278 learners
    14 X industry demand
    Upcoming Batches
    Date Location Schedule
    30th October CHENNAI Weekend
    Date Location Schedule