Paper Title :The Evolution of Artificial Intelligence and its Impact on Economic Paradigms in the USA and Globally

Author :Md Nadil Khan, Shariful Haque, Kazi Sanwarul Azim, Khaled Al-Samad, A H M Jafor, Md. Aziz, Omar Faruq, Nahid Khan

Article Citation :Md Nadil Khan ,Shariful Haque ,Kazi Sanwarul Azim ,Khaled Al-Samad ,A H M Jafor ,Md. Aziz ,Omar Faruq ,Nahid Khan , (2024 ) " The Evolution of Artificial Intelligence and its Impact on Economic Paradigms in the USA and Globally " , International Journal of Management and Applied Science (IJMAS) , pp. 134-144, Volume-10,Issue-3

Abstract : This vision argues the changing paradigms and nature of economy thanks to Artificial Intelligence (AI) in the U.S. and beyond the country. AI's economic impact analysis is achieved through a descriptive review of the AI's birth and life from its inception to current highly sophisticated applications. This life and death review also analyzes key economic sectors, for example, finance, manufacturing, and services influenced by AI. Executing a multi-purpose approach that uses both data analysis and comparative case studies to the research, statistics show that there are major differences in the way AI technologies are integrated and then come up with the outcome of the economy in different economic frameworks. The research show that between the USA and other countries, AI has been remarkable in the sense that such innovations and efficiencies have been realized with growth rates varying. There are multi-factors that differ which lead to the disparity of impact for instance; technological readiness and standards of law in the countries. In addition, this work exposes the problematic aspects of adoption of AI integration and the ethical considerations which should be taken care of through policies that facilitate innovation but also contributes to addressing disparities and ethical issues. AI will be a core driver in the process of global economic transformation, which means the labour of those in positions of power will be directed to the strategic planning in order to smoothly integrate new powerful technologies into their respective industries. This paper to the ongoing debate about the place of AI in financial development, aimed at providing useful outcomes to help managers make strategic decisions the increasingly AI-driven world. Keywords - Artificial Intelligence, Economic Impact, Technological Innovation, USA, Global Economy, Ethical Considerations, Economic Transformation, AI Regulation, Technological Disparity

Type : Research paper

Published : Volume-10,Issue-3

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