The future of artificial intelligence in the context of digital transformation

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The global economic impact of artificial intelligence is already substantial, learn more about the impacts incorporated by AI

Artificial intelligence algorithms are designed to make decisions, often using real-time data. They are different from passive machines which are only capable of mechanical or predetermined responses. Using sensors, digital data, or remote inputs, they combine information from a variety of different sources, analyze material instantly, and act on the information derived from that data. With massive improvements in storage systems, processing speeds, and analytical techniques, they are capable of considerable sophistication in analysis and decision making.

The global economic impact of AI is already considerable. AI impacts economic growth in a variety of ways:

  • Increase productivity and business opportunities: One of the impacts of AI on economic growth stems from its macroeconomic effects. For example, when AI increases productivity growth, that productivity growth also increases economic growth. It also increases opportunities for international trade.
  • Better management of complex production units: AI helps companies better manage complex and remote production units by providing a centralized management system. For example, a company can use AI to manage its warehouses more efficiently, predict consumer demand, and improve the accuracy of its delivery and quick turnaround systems.
  • Expansion of digital platforms: Trading through digital platforms is possible thanks to AI technology. Online auction site eBay, for example, is using AI to automate its operations.

Global cooperation is needed to establish safety standards that reduce the catastrophic risks posed by the proliferation of autonomous machines. Moreover, multilateral mechanisms are decisive in building a new social contract to ensure a more equitable distribution of resources in the AI ​​economy. For this reason, the structural reconfiguration of the international system should move towards new and improved mechanisms that deepen international cooperation and integrate new technologies as a channel of governance.

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Analytics Insight is an influential platform dedicated to ideas, trends and opinions from the world of data-driven technologies. It monitors the developments, recognition and achievements of artificial intelligence, big data and analytics companies across the world.

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