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AI is role in economic development and digital transformation

Authors

Rashad Aliyev Tariyel

Rubric:Management of innovations
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Economic development and digital transformation are among the most important and powerful trends of the 21st century. Rapidly developing technologies around the world, especially artificial intelligence (AI), are causing radical changes in many areas of the economy and acting as a key driver of future economic growth and development. Digital technologies are creating revolutionary changes in data processing and analysis, leading to important outcomes such as new business models, more efficient production methods, and improved workforce performance.

One of the most important aspects of these developments is the integration of artificial intelligence into the economy. The use of artificial intelligence holds great potential in both industry and service sectors. The digital transformation of the economy creates new opportunities and challenges for both the public and private sectors. Using AI to accelerate economic development and build a more transparent, competitive economy is one of the most important strategic priorities of the modern era.

This article discusses the role of AI in supporting economic development and digital transformation. It will also look at how the application of AI is affecting different sectors of the economy, as well as the new opportunities and challenges posed by this technology. Ultimately, it will be shown what an important role artificial intelligence plays in economic development and digital transformation.

Keywords

digital economy
artificial intelligence
digital technologies
digital transformation.

Authors

Rashad Aliyev Tariyel

References:

  1. Agrawaal A., J. Gans, and A. Goldfaain, The economics of artificiaal intelligencee: An agenda, Workiing Paper 26043, Natiional Bureau of Economic Reseearch, August 2019.
  2. Aceemoglu D. and P. Restrepo, Artificiial intelligence, automatiion and work, Workiing Paper, December 2020.
  3. Albriight T., AI and the future of work: Employment iimplications and poliicy responses, International Labour Review, vol. 159, no. 1, pp. 37-54, 2020.
  4. Brownn B. A. J., Markowiitz, and M. Moriicz, Machine learniing, artificial intelliigence, and employment, Journal of Monetary Economiics, vol. 96, pp. 9-21, 2018.

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