Covid 19 Along With Artificial Intelligence Equals New Business Models!!

“Then you will know the truth, and the truth will set you free.” John 8:32

Covid 19

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There is no argument that the local economic, social, as well as global spheres have been challenged and some sectors have been drastically dismantled because of Covid 19.

The negative impacts towards the family, communities, nations, and the world have been tremendous. Production, trade, supply chain networks, transportation, social and political network have all been punished.

Changes to business models as a result of Covid-19 have encouraged a renewed approach to business ethics and practices. The online marketing has proven to be robust and resilient with no sign of letting loose of its share of the market.

What Is Artificial intelligence (AI)?

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Artificial intelligence (AI) is the ability of a computer or a robot controlled by a computer to do tasks that are usually done by humans.

Businesses are currently facing a significant challenge in the form of the upsurge of AI-based systems in traditional work practices. The pandemic is likely to accelerate the increasing reliance on automation and artificial intelligence.

AI upsurge has made it timely to reflect on an important related matters. There is no doubt that AI has its advantages. However, how many highly professional roles can be replaced by machines, could ethics, virtue and judgement be automated as well?

What Is Ethics?

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The term, ethics, is commonly used as a buzzword for ‘good’ corporate and personal intentions. Approaches focused more on establishing desirable principles and norms rather than on the individual who acts.

If ethics can be condensed into a collection of rules, then it is not hard to imagine that the ethics of many professions can be automated.

However, ethics is not only about rules. It also comprises the qualities of the individuals who perform the actions, and the reasons why they act in a particular way.

It is very important, therefore, to consider the work of Aristotle, the ancient philosopher who examined ethics as both a theoretical and practical discipline. His perspectives will help you to understand the proper character traits that should be developed. These traits will show why it is important to encourage behaviours and actions that support the ‘common good’. The public interest is integral in all sphere of ethical life.

What Is Virtues And Integrity

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Aristotle refers to ‘virtues’ as the habitual dispositions to do the good. He explains that those who live a virtuous life are constantly striving to become the best version of themselves and to contribute to the good of society.

Integrity is the practice of being honest and showing a consistent and uncompromising adherence to strong moral and ethical principles and values. Integrity is the inner sense of “wholeness” deriving from qualities such as honesty and consistency of character.

Virtue and integrity can inspire a more holistic reflection on the ethics and paradyn in all areas of life. This is especially so in prominent roles given for both the public interest and the moral character of individuals.

Human Complex judgments

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 Judgement is an opinion or decision that is based on careful thought. Also it is the act of judging something or someone and the ability to make good decisions about what should be done.

In the context of daily routine work, many complex judgments may not be necessary. With reference to available data, current technologies, specific clients, and the legislative and regulatory parameters judgement will be complex. To assess pertinent factors in light of expertise, experience and professionalism then to form judgments definitely need complex judgement.

AI-based systems can clearly replace certain ‘routine-based’ judgments, rendering some roles increasingly redundant. However, practices which comprises significant areas where specific human judgment is required in both technical and ethical aspects AI will fall short.

AI’s Current Limitations

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If eventually an AI-based system is able to form complex judgment and ultimately attains decision making status, further questions looms. Guidelines, policies, procedures, practices and standards will have to be regularized with relative permanency.

How can you ensure that AI-based decision-making supports the public interest? Will the cost of these high tech computers be affordable to the average businesses? Questions and more questions.

Looking Ahead At Education

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You must agree that AI will play a significant role in the future employment statistics, but not for all, aspects.

Automation will therefore prompt professional ethics designers to reflect on the intended outcomes of the automated processes, and on the moral qualities in relation to the public interest.

In light of this renewed context, there are considerable challenges ahead for professional bodies, practitioners and educators.

Ethics education will also need to be reshaped, to integrate the wisdom of ancient philosophers into the wave of new technologies. There is no doubt that Covid 19 plus artificial intelligence has already given rise to new business models and mindset.

You have to Get Online!!

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Any ideas will be suitable for organizing an online business. The scope is very wide including the desire to sell goods of any kind; provide services that are marketable; and conduct negotiation training or webinars.

Rising internet penetration and the growing use of smartphones are predicted to contribute to the growth of the e-commerce market. Increasing government and companies’ initiatives to promote e-commerce sales is a leading trend in the internet market.

Covid 19 has highlighted that online business is convenient and cost beneficial. Lots of overhead expenses can be minimized using online shopping and distribution especially for bulky items

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