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A Very Human Future
A Very Human Future
Student’s Name
Institutional Affiliation
Course Tittle
Professor’s Name
Date
PART 1: Technological Bursts of Possibility and Disruption
In this paper, I will focus on part one, which is named ‘Technological Bursts of Possibility and Disruption.’ Upon reading this chapter, I realize that as society gets into the fourth industrial revolution, one of the major questions arises whether we can harness the intense technological burst of likelihood to bring about a better world. It evaluates how the evolution of society, businesses, governments, cities, and nations are being surprisingly entwined by exponential high-tech disruption. It focuses on the exploration of how we can make technology serve humanity’s highest ambitions and needs.
This part one is a litany of what is taking place in advanced technologies, for instance, artificial intelligence, resulting in the transformation of industries, cloud computing, the Internet of Things (IoT), 5G networks, quantum computing, 3D/4D printing, and space exploration. It also results in the convergence of a variety of more than a few fields, including autonomous vehicles, machine learning, robotics, and drones. It has taken away numerous jobs, creating employment. This chapter is also a clarion call for individuals to be proactive, develop coping mechanisms, and benefit from their participation in the new industrial revolution. It presents snapshot situations of how complex and critical economic, social, geopolitical, and technological aspects might play out and interrelate over the subsequent 25 years. The chapter, Harnessing Technological Bursts of Possibility, emphasizes a number of the technologies that disrupt the universe, the innovative industries and career opportunities they will create, and the important roles of forethought and individuals centrical thinking in guaranteeing a viable future of the people and the firms.
On the other hand, the future evolution of artificial intelligence clarifies the basics of artificial intelligence. It highlights the types of applications we might have in the next 15-20 years and provides intuitions into seven likely phases through which it might develop. Artificial intelligence and machine learning technologies play a crucial role in modern-day success in reference to the class readings. Implementing and making artificial intelligence and machine learning changes to improve supply chain management is a relatively new concept that positively impacts. Web services offer technical assistance, exceedingly scalable and consistent infrastructure capacity, and help clients with their research, remote work and learning, and other solutions to address their needs. Part 1 proceeds by presenting examples of how robotics and connected devices particularly could impact the future. It also presents examples of how robotics and connected devices majorly could change a range of life experiences expectantly for the better. The pace of artificial intelligence advancement appears probably to continue, and one thing to be expected is to see consistent advances that blow our collective thoughts. Advancing from reasoning systems to AGI is not similar to the exponential advancement we have developed familiarized to in internet connection speeds, computer power, and memory storage. From this part, it is clear that over the next 15-20 years, the universe is likely to go through several important transformations as this “Fourth Industrial Revolution” enabled by smart machines touches every life, nation, and sector on the planet.
Breach of Informal Norms
Student’s name
Lecturer’s name
Course
Date
Breach of Informal Norms
Informal norms are casual behaviors that society members conform to provide guidance and direct behavior, thus bringing order in society. Informal norms are an essential part of society because they allow members to understand each other and create predictable social relationships. Reactions to a breach of informal norms vary depending on the relationship between the two parties in play. The OpenStax textbook states, “First, consider the
elements of a relationship. One is attachment, or the bond that people form with each
other. (OpenStax chapter 4, section 1). For the breaching of informal norms experiment, I decided to take the lift while facing the opposite direction from everybody in the lift. Normally elevator etiquette dictates that people fill it starting from the back as they face the door. I choose the school resource center’s elevator on a Monday because it is usually full of students. People got into the lift and faced the door as they waited for it to move and reach their respective floors. Additionally, people in an elevator tend to maintain silence throughout unless they share s special connection like a friendship. I got into the lift last and faced people in the lift. To make it more interesting, I decided to take another step and plug my earphones and dance like it was commonplace for the activity. However, no music was playing on my phone the whole time. I identified two individuals in the lift and tried to maintain steady eye contact by persistently staring at them and watching their reactions.
The elevator consisted of a total of ten individuals of different genders. Two individuals expressed amusement in my actions. On the other hand, five people, particularly those close to me, expressed discomfort. According to the OpenStax textbook, “what is considered deviant is determined not so much by the behaviors themselves or the people who commit them, but by the reactions of others to these behaviors.” The lady right in front of me removed her phone from her purse started scrolling to distract herself from whatever I was doing and avoid eye contact. The man next to her covered his face with his hands in disbelief and looked down the whole time in the elevator. He avoided eye contact with me because it made him uncomfortable. In this experiment, I broke the informal norm that requires people to face the same direction and not interfere with personal space since it’s a small cubicle and is for a short while. The discomfort and amusement of people in the elevator made my actions feel awkward and out of place.
Shifting the social context and introducing this informal norm in a different physical setting. The breach of the informal norm in the elevator opened my mind and allowed me to realize how society, mainly human behavior, is guided and controlled by unspoken rules. The reactions from the people in the elevator made me feel a little embarrassed. However, I had to see it through and gather as much information as possible through their reactions. It helped me appreciate the presence of unspoken rules in society.
Malabar Gold and diamond company ECONOMICS REPORT
Malabar Gold and diamond company ECONOMICS REPORT
NAME
AFFILIATION
Question 1
The name of the company is Malabar Gold and diamond and the branch which the students (in a group of 5) had visited has been in operation since the last couple of years located near ruwais mall near to their college. The company has 5 branches in UAE. It is famous for its jewelry making and watches made of precious items like Gold, Platinum and other gems. The company has been operational since the last 6 years and currently has an annual turnover of $3.5 billion (Heyne, Boettke, Prychitko, 2014).The company has also established 10 additional whole sale units apart from the offices, design centers and the factories. The target customers of the company is every range and it maintains a unique collection for every individual regardless of age. The majority of the ornaments available at their restaurants ranges from 18,000 to 22,000 making it relatively easy for the average customer to have access to it hence quadrupling the sales.
Question 2
The law of demand is a very common law that prevails in every industry. It simply states that the price of the product will fall if the quantity demanded decreases and vice versa. In the context of this company, the primary products of the company are gold and diamonds but it is an interesting fact that the price of the gold ornaments are less than the diamond ornaments at present (Heyne, Boettke, Prychitko, 2014). The recent fluctuations have caused the increase in the gold price hence the demand should have been decreased. However, in the case of this company this is not the case. It is evident from their financial structure that they have introduced two schemes by the name of Malabar monthly scheme and the wedding purchase scheme. The primary reason for the introduction of such schemes is that the company allows you to invest for a period ranging from 3 months to three years with three or thirty six installments respectively. These schemes have the embedded option available which allows you to lock in the gold rate which was at the initiation of the time of installments. In a country like India, where women are highly attracted to it and follows the traditional custom of wearing it at different occasions. Gold is also considered as a good investment as majority of the people do invest in gold or companies who are in the business of mining gold in order to earn superior returns than the market.
The above mentioned facts have allowed the demand of the gold to rise even if the prices are rising. This is a violation of the law of demand but it can be termed as capturing of the niche market which has allowed the expensive metals like gold and diamonds within the grasp of a common man who would have only thought to give gold to his daughter at the time of his marriage.
Question 3
On the contrary, scarcity is the primary economic problem which implies that there are unlimited wants existing in the human world and there are very few resources to satisfy it. In other terms, the concept of scarcity can be stated as there are limited resources for the satisfaction of unlimited human wants. In the context of the above mentioned definition, it is evident that to obtain something one has to give up or trade off something. The price of the good involved in this matter reflects the scarcity of this good (Mankiw, 2007).
When we discuss the company Malabar gold and diamond, it can be seen that the element of scarcity is prevailing in the society as the people intends to purchase more and more gold, they have to quit some of their wants or have to make a sacrifice to obtain the gold. The concept of scarcity is vital to survive in the real world because it results in the arousal of competition which subsequently results in people striving with each other in order to qualify for the criteria which will be used to determine who will be able to get the most. The system of pricing in the community is responsible for allocation of the resources (Mankiw, 2007). If the society tends to make economic improvements on the monetary terms basis then people will work hard to get monetary benefits. Gold and diamond ornaments is a want which will be satisfied as people will be more oriented towards savings that will help them to earn gold. The company pricing policy has resulted in such circumstances that the price gap has been greatly reduced hence the concept of scarcity of resources is easily being met. The branch has a lot of products hence the reason at why the client prefer to do business with the main branch.
References
https://www.malabargoldanddiamonds.com
Heyne, Paul; Boettke, Peter J.; Prychitko, David L. (2014). The Economic Way of Thinking (13th ed.). Pearson. HYPERLINK “http://en.wikipedia.org/wiki/International_Standard_Book_Number” o “International Standard Book Number” ISBN HYPERLINK “http://en.wikipedia.org/wiki/Special:BookSources/978-0-13-299129-2” o “Special:BookSources/978-0-13-299129-2” 978-0-13-299129-2.
Mankiw, G (2007). Principles of Economics. South-Western Cengage Learning. p. 470. HYPERLINK “http://en.wikipedia.org/wiki/International_Standard_Book_Number” o “International Standard Book Number” ISBN HYPERLINK “http://en.wikipedia.org/wiki/Special:BookSources/978-0-324-22472-6” o “Special:BookSources/978-0-324-22472-6” 978-0-324-22472-6.