UNDERSTANDING AI'S LONG-TERM IMPACT ON ECONOMIC STABILITY AND GROWTH (original) (raw)

UNDERSTANDING THE INTERPLAY BETWEEN AI INNOVATIONS AND ECONOMIC GROWTH

2024

Many scholars and thinkers have begun to unravel the profound relationship between artificial intelligence innovations and economic growth. As AI technologies permeate various industries, they not only enhance productivity but also transform traditional economic paradigms. This dynamic interplay leads to new forms of employment, challenges outdated business models, and sparks unprecedented creative endeavors. By exploring this fascinating nexus, we can better understand how AI shapes our economies, influencing the very fabric of society and paving the way for a future rich in possibilities.

How AI Is Revolutionizing Economic Growth - Key Trends To Watch

Growth in artificial intelligence is not merely a technological revelry; it is a transformative force reshaping our economic landscape. As we stand on the brink of unprecedented advancements, understanding the monumental trends shaped by AI will empower industries and individuals alike. This exploration into the intersection of AI and economic development unveils the intricate patterns of productivity enhancement, employment evolution, and market innovation, heralding an era where intelligence-both artificial and organic-catalyzes our financial realities.

WHAT ARE THE LONG - TERM IMPLICATIONS OF AI ON GLOBAL ECONOMIC EQUILIBRIUM?

As we initiate on an era of unprecedented technological advancement, the emergence of artificial intelligence beckons a profound shift in the global economic landscape. The symbiotic relationship between human innovation and machine learning will undoubtedly reshape the fabric of our economic systems, precipitating far-reaching consequences that will be felt for generations to come. It is imperative to examine the potential repercussions of AI on the delicate balance of global economic equilibrium, lest we risk being enveloped by the very progress we have created.

Artificial Intelligence and Economic Growth: A Theoretical Framework

Scientific Annals of Economics and Business

The growing adoption of Artificial Intelligence (AI) has sparked ubiquitous concerns worldwide. Artificial intelligence can affect economic growth and employment. The influence is assumed to be substantial because the adoption of AI technology may lead to increased productivity, lower wages, prices, and labor substitution. Artificial intelligence can affect global economic growth with its widespread adoption and diffusion. We mathematically examined the effects of AI on economic growth, reiterating how AI is unique as a production factor. The models show that AI capital lowers capital prices, increases wages, and augments productivity. Besides, AI capital positively affects the labor share and vice versa, provided that AI and labor are complementary. We improved a task-based model to show AI raises both labor share and wages by generating new tasks. We also present the potential policy implications of AI adoption. We conclude AI can contribute to economic growth. Labor-abundant coun...

CAN AI FOSTER SUSTAINABLE GROWTH AMIDST ECONOMIC TURBULENCE?

As the global economy navigates uncharted waters, the quest for sustainable growth has become a pressing imperative. Amidst this turbulence, artificial intelligence (AI) emerges as a potential catalyst for transformation. By harnessing AI's capabilities, we may unlock new avenues for innovation, efficiency, and resilience, ultimately reshaping the fabric of our economic systems. As we explore the intersection of AI and sustainability, we must consider the profound implications of this synergy on our collective future.

CAN AI MITIGATE ECONOMIC VOLATILITY AND ENHANCE LONG-TERM GROWTH?

As we navigate the complexities of modern economics, a profound question arises: can artificial intelligence be the stabilizing force we need? The intersection of AI and economics presents a fascinating conundrum, where intelligent systems may potentially temper volatility and bolster growth. By analyzing vast datasets and identifying patterns, AI can optimize economic models, fostering a more stable and prosperous future, much like the harmony found in the natural world, where intricate systems interact in a beautiful dance of cause and effect.

Artificial Intelligence and Economic Growth

2017

, and participants at the NBER Conference on Artificial Intelligence for helpful discussion and comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

The transformative economic impact of Artificial Intelligence

Background: The swift assimilation of Artificial Intelligence (AI) across multiple industries is altering the worldwide economic terrain. Unprecedented opportunities and difficulties are brought about by this revolutionary technology, which has an impact on innovation, trade, labor markets, and security. Objective: The goal of this study is to thoroughly investigate the economic effects of AI by exploring how it may affect labor markets, innovation, trade internationally, and security. The goal is to offer insights that support strategic decision-making and policy formation by examining current trends, opportunities, and difficulties. Results: The research highlights the dual character of artificial intelligence's influence, highlighting both its potential to spur economic expansion and its drawbacks, including the loss of jobs, a lack of standards, and security issues. The study highlights how crucial cooperation is to overcoming these obstacles and realizing AI's full potential. Conclusion: The balancing opportunities and risks becomes critical as AI continues to change the economic landscape. The report promotes proactive steps including ethical AI design guidelines, ongoing worker retraining, and flexible regulatory strategies. As we shape an AI future that puts inclusion, creativity, and responsible governance first, collaboration emerges as a key theme.

The Macroeconomic Impact of Artificial Intelligence

International Journal of Sustainable Economies Management

The general purpose of this scientific paper (Paper) is to analyze the impact of artificial intelligence (AI) and digitalization on the macroeconomics of the EU member states (including Romania). To reach the general objective, 6 specific objectives were selected: the analysis of the birth and evolution of the concept of AI; identification and analysis of various forms of artificial intelligence, of its possible impact on the aggregate economy, based on the findings of the scientific writings; identification of the relevant sources of statistic data and information enabling us to undertake an inter-state comparative study regarding AI and digitalization; analysis of the intensity and sense of the correlation between various indicators expressing the use of AI systems and digitalization, in the EU; analysis of the interdependence between the average GDP per capita and labor productivity on the one hand, and the AI and digitalization levels, on the other; analysis of the interdependen...