A Review on Artificial Intelligence and the Global Economy

This article studies artificial intelligence, its possible influence on the transformation of the global economy, and its potential to enhance productivity. My study reviews recent developments in artificial intelligence from an economics perspective and presents ideas for the future. We should notice that artificial intelligence may create technology-based industries, transforming lives across the world. Furthermore, the application of AI in economics is generally linked to productivity growth and transformation, which means radical changes in the inputs and outputs of the global economy in the production of goods and services. It will happen as a result of the so-called “AI revolution” which sooner or later may happen. Countries developing AI capabilities will benefit from it in the future. The US and China will probably benefit most as leaders of this marathon; meanwhile, other countries may remain behind, and they still need to prepare their economies for the adoption of prepared AI solutions.