THE EVOLUTIONARY IMPACT OF ARTIFICIAL INTELLIGENCE ON THE ECONOMY: TRENDS AND IDEAS
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.1, No. 91)Publication Date: 2024-11-30
Authors : Karas Olena;
Page : 49-55
Keywords : artificial intelligence; economic trends; automation; innovative technologies; AI impact; predictive analytics;
Abstract
Introduction. The intersection of artificial intelligence (AI) and economics marks a pivotal point in the evolution of economic theory and practice. With the emergence of AI technologies such as machine learning, predictive analytics, and natural language processing, economists now have unprecedented tools to analyze and optimize vast datasets and forecast market trends. One of AI's most significant impacts on the economy is its ability to facilitate data-driven decision-making. Traditional economic models often relied on limited datasets and assumptions, leading to imperfect predictions. However, with the advent of AI-based analytics, economists can harness the power of big data to uncover hidden patterns, correlations, and causal relationships. Whether analyzing consumer behavior, market dynamics, or macroeconomic indicators, AI algorithms can process enormous volumes of data in real time, providing companies with actionable insights for informed decision-making.
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