Abdulov, Rafael. “Artificial Intelligence as An Important Factor of Sustainable and Crisis-Free Economic Growth.” Procedia Computer Science, vol.1, no. 169, 2020, pp. 468-472.
Abdulov takes the opportunity to explain the role of artificial intelligence in improving the subsectors of the economy. According to Abdulov, the new technology has quite many benefits for the growth of the firms, customs, and economy at large. Based on its digital nature, the latest technology has the power of integrating with smart devices such as phones to connect all the key players in the economy.
The source accepts the application of the new technological development in the economy and its positive effects. However, it fails to note that the application of AI will expand the economy and provide it with the opportunity to be stable. The above trend clearly indicates that even though the paper has unmanaged to support the need of integrating this new technology to help in achieving the best results in their business operations, better analysis is still required.
Agrawal et al. “Economic Policy for Artificial Intelligence.” Innovation Policy and the Economy, vol. 19. no, 1, 2019, pp 139-159.
This article mainly supports the idea that AI has had a significant effect on the economy. According to Agrawal and the team, AI has promoted the productivity, market power, and growth of major economies across the globe. As a result of these critical impacts, governments of countries such as China and France have developed policies geared at integrating AI into the economy. These policies support resource allocation in the investment in technology.
The source presents enough data pointing to the positive influence of AI in the economy. The source appears to be credible and relevant to the area of study. Nevertheless, it has failed to touch on some important aspects, such as how to integrate the new technology into the economy. Therefore, there is a need to develop new and improved policies to help the nations operate effectively and achieve the desired results.
Cockburn, et al. The Impact of Artificial Intelligence on Innovation: An Exploratory Analysis. University of Chicago Press, 2019.
Cockburn et al. explore the impact of AI on innovation and the economy at large. According to this book, AI has a relatively high level of influence on the economy as well as the society at large. The scientists accept that artificial intelligence has a significant impact on production as well as products and services. AI has the power to affect innovation and its consequences. The researchers believe that the application of this critical element is one of the strongest ways of promoting economic growth.
The source categorically manages to show the importance of institutions to integrating AI in economic production. The research is beneficial for illustrating the opportunities for entities to expand their operations but also to achieve significant benefits. With the help of AI, it is possible to understand the in-depth meaning of service delivery and provision of the highest grade. Since the study was published in 2019, it presents relevance to the current research, supporting the idea that AI could be highly beneficial for service delivery.
Furman, Jason, and Robert Seamans. “AI and the Economy.” Innovation Policy and The Economy, vol,19, no,.1, 2019, pp. 161-191.
Furman and Robert take the SWOT analysis of the possible effects of AI on the larger economy. In their results, they noted that AI could boost and derail the economy at the same time. That means the new technological approach does not only have advantages but also quite many challenges in the overall progress of every nation that decides to adopt AI. In their opinion, they noted that if not mitigated, these challenges may derail the economy’s progress.
The benefits of the source include the comprehensive overview of the statistics of AI use in the economy, the impact of technologies on productivity, as well as limitations and barriers to entry. However, the study is limited by the fact that AI is a complex issue, and approaches to it are varied. It is imperative to answer the question of whether AI should be approached as a new area of study or a tool that can be used in various areas.
Huang, et al. “The Feeling Economy: Managing in The Next Generation of Artificial Intelligence (AI).” California Management Review, vol, 61.no, 4, 2019, pp. 43-65.
In this article, Huang and colleagues took the opportunity to explain the capacity of AI in promoting the economy. In their opinion, they accepted that AI is currently expanding beyond mechanical means. The new technology has taken the initiative to perform many of the analytical business tasks. Huang and his colleagues accepted that the latest technological development has the power to help human resources to navigate their operations most efficiently.
The research is beneficial for showing that AI is a tool that many managers can use to facilitate organizational effectiveness, as there are not many studies exploring the topic. Therefore, the scholars pointed to the fact that AI can be effectively utilized for facilitating production. However, the study does not answer the question of how AI influences the productivity of human workers who often experience emotional challenges associated with the stress of performing their jobs.
Korinek, Anton, and Joseph E. Stiglitz. Artificial Intelligence, Globalization, and Strategies for Economic Development. No. w28453. National Bureau of Economic Research, 2021. pp. 5562-5571.
The well-researched article takes the opportunity to determine the effects of AI and other related automation on the economic progress of developing nations. According to the results, it is notable that the new moves have threatened to reverse the financial gains that the emerging markets have achieved over the centuries. For example, the latest technologies tend labor-saving and capitalist. These new developments may have far-reaching adverse effects on the overall progress of the nation.
The study is beneficial for illustrating the need for institutions to adopt some of the best economic policies that would help to mitigate the adverse effects of AI. Drawing from the analysis, it is clear that despite the possible positive impacts of the new technological trends, they should be used moderately to prevent them from diluting the gains achieved by the developing nations. However, the study is limited in data availability as there are not enough diverse data. To research the topic in greater detail, more specific and tailored data is needed.
Li, Wenlong. “Book review: Reinventing Capitalism in the Age of Big Data.” 2018, pp 162-169.
This phenomenal best-selling article has continued to help inquire how contemporary Artificial Intelligence has affected the overall progress of the economy. In his quest, the renowned scholar takes the opportunity to review one of the new books, “Reinventing Capitalisms in the Age of Big Data.” His primary focus was to discover how the Artificial Intelligence new data management systems have impacted the economy. Therefore, every effort was made to help in achieving the results.
The resource is beneficial as it combines the full range of professional and academic expertise of authors, keeping readers engaged with the help of plain language and anecdotal accounts. The first-hand accounts from professionals in the field put weight on analyzing the data-driven dynamics of the business world and future markets. On the downside, the lack of evidence to support anecdotal accounts presents significant limitations to the validity and reliability of the source.
Moșteanu, Narcisa Roxana. “International Financial Markets face to face with Artificial Intelligence and Digital Era.” Theoretical & Applied Economics, vol.26. no, 3, 2019. pp. 123-134
In this article, the renowned economist Moșteanu takes the opportunity to analyze the role of the international financial markets in the economy. The research managed to discover that the present inequalities that are experienced across the globe occur due to the continuous rise in technological development and social-economic conditions. These new developments have resulted in quite many disparities that should be addressed to help in achieving the expected results.
The research is beneficial for managing to indicate the importance of businesses in applying artificial intelligence as the only perfect means of achieving growth. Thus, organizations can use AI as a means of combining financial information with technological capabilities, thus facilitating the digital transformation of finance. However, the research does not address the question of how employees in financial markets approach AI solutions and whether they are accepting of change.
Works Cited
Abdulov, Rafael. “Artificial Intelligence as An Important Factor of Sustainable and Crisis-Free Economic Growth.” Procedia Computer Science, vol.1, no. 169, 2020, pp. 468-472.
Agrawal, Ajay, et al. “Economic Policy for Artificial Intelligence.” Innovation Policy and the Economy, vol. 19. no, 1, 2019, pp 139-159.
Cockburn, Ian, et al. The Impact of Artificial Intelligence on Innovation: An Exploratory Analysis. University of Chicago Press, 2019.
Furman, Jason, and Robert Seamans. “AI and the Economy.” Innovation Policy and The Economy, vol,19, no,.1, 2019, pp. 161-191.
Huang, Ming-Hui, et al. “The Feeling Economy: Managing in The Next Generation of Artificial Intelligence (AI).” California Management Review, vol, 61.no, 4, 2019, pp. 43-65.
Korinek, Anton, and Joseph E. Stiglitz. Artificial Intelligence, Globalization, and Strategies for Economic Development. No. w28453. National Bureau of Economic Research, 2021. pp. 5562-5571.
Li, Wenlong. “Book review: Reinventing Capitalism in the Age of Big Data.” 2018, pp 162-169.
Moșteanu, Narcisa Roxana. “International Financial Markets face to face with Artificial Intelligence and Digital Era.” Theoretical & Applied Economics, vol.26. no, 3, 2019. pp. 123-134