AI and Society 5.0: Opportunities

AI and Society 5.0: Opportunities


These new technologies and the power
and the diversity give us a lot of opportunities for our Society 5.0. So Society 5.0 is a term coined by the Japanese and it makes the
difference between the information society which in a way looks
like ours nowadays I mean we collect data and most of the time, humans
analyze this data. Society 5.0 is actually collecting data but then AI,
with exceeding capacities compared to humans, is doing the job of analyzing
this data. It’s successful. This process brings new value to industry in society
in ways not possible available before. So for the first time in human history
autonomous systems are capable of performing complex tasks and these tasks are processing large quantities of information, predicting, learning and
adapting responses to changing situations in real-time, recognizing and
classifying objects. You can use actually all those techniques for these tasks in different domains. So that’s my theoretical framework here you
know it looks like Michel Porter’s diamond. So we talked about public
institutions in which actually and for which you can think about more efficient
policymaking, better judicial systems, better environmental outcomes and
bolstering public safety, you name it. For private companies you talk about better
risk management, resource usage optimization, technological progress
again a lot of different stuff. For the civil society you can imagine a Society 5.0 with a better health care, with a better mobility creating wealth,
augmented agriculture. About individuals you can imagine augmented individuals
creating wealth, you can imagine robots actually taking care of us when we age. So this is a summary slide so on the left-hand side you get all the benefits
of Society 5.0 and on the right-hand side something little more in-depth. It’s about the economy and we tend to forget but a society is actually an
economy or many economies depending on the definition. It relies on an
infrastructure called capitalism with different various degrees. So it’s
interesting because if AI can disrupt in many ways actually the infrastructures, the economic infrastructure or the economy itself
society is impacted by definition I mean there’s no difference. So when we talk
about the economy and AI, we talk about informing better models in
finance and risk management but it’s also about the industrial organization. Will AI helped create oligopolies, monopolies, disrupting competition, capturing consumer surplus that will be interesting and you can derive actually
the same way of thinking to the other disciplines. So we’ve done a couple of
case studies in the past. The first one is about systemic risk. How can
we measure systemic risk? How can we use actually these new techniques to measure systemic risk? So here we collected data for 2,200 financial companies. We
have almost 45,000 directors on the boards of these institutional firms and
financial institutions. We could through the graph theory models, we could map actually groups of financial institutions based on similarities of their boards. It’s interesting to be able to see
actually the cultural similarities and maybe actually a good proxy for a
systemic risk. Here, we did something different again with unstructured data
we talked about speeches by presidents of the European Central Bank since the inception of the euro and European Central Bank. So what you have it’s the
dynamics of these courses at the European Central Bank level and it’s before
and after the crisis and it’s across actually the different central
bankers. So it’s kind of interesting to be able to analyze the discourses for
financial reasons, financial implications. Then we thought okay why don’t we
look at the dynamics of artificial intelligence in terms of innovation. To do that we collected fifty five thousand patents across the world about
artificial intelligence and the different techniques machine learning, neural network and so on. We wanted to see actually the exponential growth if it
happened and yes look I mean it happens but also to see actually if it was about
companies, if it was about countries, if it was about universities and we have
interesting results should you be interested I mean please follow us on
our website. So the forth case study it’s more about public policies so on another
panel in our theoretical framework. So here we looked at fracking across the
U.S. So it’s geographic data it’s a lot of data, it’s actually a massive data set
and these captures what you see at the bottom left, these captures actually the private economy. So the dynamism of the private
economy in the fracking industry. Then we thought okay what about medical information? Do we have actually experts talking about the risks, issues or maybe
there is no issues with fracking. So we collected academic papers analyzed by our algorithms. Then we thought okay but
what do people think about it? Even if they are not experts. We looked at
Twitter and we collected tweets to see whether people liked it or dislike it. What what were they saying about fracking. So you see I mean with these new tools we can actually go further in terms of
research. So achieving Society 5.0 with these attributes tools would
enable the world to realize economic development while solving
key social problems and better inform our systems.

Author: Kennedi Daugherty

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