I am a student here at UW-Oshkosh and I am in a microeconomics class learning about short-run aggregate supply. After learning about it in class, it is very important to bring to the attention of the Advance-Titan about how artificial intelligence will affect short-run aggregate supply and how UWO can pay a big role in helping to prepare our students for the future. Artificial intelligence, best known as AI, is already becoming a part of students’ everyday life here at the UWO, along with many universities world wide.
Most conversations on campus focus on if students should be allowed to use AI inside and outside the classroom. Even though this is the case, there is a deeper issue than this. Artificial intelligence is changing the way students are able to learn and complete homework. But it is also changing how productive people can be throughout their day to day lives. Because of this, the way UWO responds to this really matters. To start, short-run aggregate supply is how much businesses can produce at a certain time based on their current cost and technology. When AI is used, it helps businesses work faster and is cost effective.
This means that most of the time they can produce more without raising prices. This ends up shifting the short-run aggregate supply to the right. UWO has an important role in what this all means because as a university it has a job of preparing students for future jobs and their future career paths. If students learn how to use AI the right way, they will be more productive workers in the future.
This will overall help businesses run better and produce more overall. AI can also help UWO as a university. Artificial intelligence can make ads, help with scheduling and help students be more efficient on how they study. There are definitely pros to incorporating AI on campus. AI can help students understand harder topics, help students brainstorm ideas, and also allow students to get immediate feedback.
Professors can also save time on grading students’ work or even planning their lessons. This can overall make classes more focused and productive. AI can help both students, professors, and the university itself.It is also important to look at some of the flaws that can come with AI. Some students will rely on AI too much and will not actually learn any of their material to the full extent. It can also be used as a cheating mechanism. This specific flaw of AI is a big concern for colleges and schools in general. Another area of concern is that not every student has the same access to AI tools, this could create unfair advantages.
In the short run, these problems could slow down the overall benefits of AI. Even with these concerns, avoiding AI is not the solution. In today’s society it is hard to say that avoiding AI is the solution for anyone, rather we need to learn how to grow with it. If UWO omits AI too much, students might not be ready for real jobs where AI is already being used and kept up with. Instead, the university should teach students how to use AI responsibly and in more creative ways so that students can benefit from it without relying on it too much. Overall, this connects back to short-run aggregate supply because AI increases productivity in both schools and businesses.
When productivity rises, firms can produce more goods and services with about the same amount of resources. This means that the short-run aggregate supply curve would shift to the right. UWO is part of this process because it helps train students who will use AI in the future. If students and professors learn these skills, now, they can help the economy become more efficient in the short run. Whether we like it or not, AI is already changing the world and at this rate it is not going away. UWO has the chance to help students adapt and succeed in this new environment. By using AI in a smart and balanced way, the university is helping students become more productive and taking a needed step into the future.
