Integrating Artificial intelligence (AI) with Economic Development: Literature & Language Essay

Integrating Artificial intelligence (AI) with Economic Development
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Research topic:
Integrating Artificial intelligence (AI) with Economic DevelopmentResearch Questions:
* What are technological advancements can be partnered with AI for Economic Development?
* How can developing economies keep up with the accelerating development and deployment of AI?
* What impact does Artificial Intelligence have on employment and jobs?
* What are the challenges that might be met by countries that want to integrate Artificial Intelligence in Economic Institutions and Systems?
* What are the industries that will be greatly affected by the deployment of Artificial Intelligence in terms of robots and automation, and how?
Introduction:
The development of technology has reached a new age with emerging Artificial Intelligence advancements. It has potential in Economic Development, mainly in addressing production of goods, inequality, market power, and innovation. The proposed research would dwell on the Economic potentials and impact of AI. Computational statistics is a field where AI has a very large impact. The proposed research topic will deal with robotics, automation, and AI consultation for Economic inquiry.
1. Why is this topic essential to be studied?
The topic of Artificial Intelligence is of key importance, especially in the Economic Sector. Artificial Intelligence deployment in the systems of society can lead to higher productivity and more opportunities for innovation. There are many situations in which AI can create new jobs, and at the same time, make other jobs obsolete. Thus, it is essential to identify the certain areas wherein AI would give its benefits so that systematic change at the institutional level can be achieved. According to PwC, the integration of AI in economic development can generate about 15.7 trillion dollars to the global GDP by 2030. In such a small period, AI can lead to growth and better distribution of goods and services worldwide.
What aspect of AI? – The aspect of AI is in its practical use in prediction. Artificial Intelligence has been proven as an effective tool for computing large amounts of data. Given that the economic sector is run by the validity, and availability of trade contracts, Artificial intelligence has a good future in this field.
In what usage conditions? – The Artificial Intelligence can be used to compute the proper distribution of goods and resources, the steps to achieve maximum efficiency of production of different objects and services.
What do you mean by economic development? – Economic Development pertains to the production, distribution, and progress of livelihood at the macro and micro level. It per...