Social welfare as a mechanism for redistributing resources

Since social welfare is a mechanism for redistributing resources from those in a society who have assets to those who do not, under what conditions do you think that social welfare is justifiable. Identify categories of people that you believe society should assist and categories of people that society should not assist. How do these groups of people differ? How are they alike? Please respond to at least two others in your class.

  1. In 2017, McKinsey & Company created a five-part video titled “Ask the AI Experts: What Advice Would You Give to Executives About AI?” View the video and summarize the advice given to the major issues discussed. (Note: This is a class project.)
  2. Watch the McKinsey & Company video (3:06min.) on today’s drivers of AI at youtube.com/watch?v=yv0IG1D-OdU and identify the major AI drivers. Write a report.
  3. Explore the AI-related products and services of Nuance Inc. (nuance.com). Explore the Dragon voice recognition product.

Sample Solution