THE TRANSFORMATIVE ROLE OF AI IN SHAPING THE FUTURE OF ECONOMIC LANDSCAPES

Abstract

The rapid adoption of AI in several sectors is changing the global economic landscape. Innovation, trade, labour markets, and security are all affected by this revolutionary technology, which brings both unprecedented potential and concerns. The purpose of this research is to examine AI's potential monetary impacts by looking into its potential consequences on innovation, security, international trade, and labour markets. By analyzing present trends, possibilities, and challenges, we hope to provide insights that aid in the creation of policies and strategic decisions. The study's findings show that AI's impact is two-sided, with the good side being the possibility of increased economic growth and the bad side being things like job losses, a lack of standards, and security concerns. The study emphasises the importance of working together to overcome these challenges and fully utilise AI's capabilities. As AI keeps changing the economic landscape, it becomes vital to balance risks and opportunities. Guidelines for ethical AI design, continuous retraining of workers, and adaptable regulatory approaches are all proactive measures advocated for in the paper. A recurring issue that arises as we form an AI future prioritising inclusivity, innovation, and responsible governance is the importance of collaboration.