Transforming Data Capital into Economic Value: The Role of Artificial Intelligence in near Future

This research capitalizes on the impacts of Artificial Intelligence, as combination of machine learning, algorithms and data, starting from national economies to global. It is introduced the current situation and gaps based on recently done researches and studies. As pointed, the world economy is transforming where Artificial Intelligence is applicable across the economy. Artificial Intelligence is becoming one of the important factors of economic development. Soon the developed countries will be considered those who are the most dynamic data hubs in the world. In the modern era of globalization, the digital data is becoming the new commodity and on the other hand can be considered the important factor for economy development. So more data gives better products, better business services and indeed it gives more economic value. Therefore, the important role of data in economy led to data usefulness. Data is what makes Artificial Intelligence go. It is pointed out that Artificial Intelligence is strategic for future economic growth and welfare of society.