The Role of Artificial Intelligence In Shaping The Future Of The Global Economy

Sulaimanova Aizhan (2023) The Role of Artificial Intelligence In Shaping The Future Of The Global Economy. Külkereskedelmi Kar.

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Absztrakt (kivonat)

ArtificialIntelligence (AI) is rapidly becoming a major driving force in shaping thefuture of the global economy. The advancements in AI have the potential totransform a wide range of industries and drive economic growth across theglobe. This research paper will examine the role of AI in shaping the future ofthe global economy and the potential implications for businesses and society asa whole.First of all, this paper will give an overview of Artificial Intelligence. Itwill study the different types of AI and the implementation level of each AIform. AI is split into two main categories: AI-based on capabilities andAI-based on functionalities, which, in their turn, have other subcategories aswell.The emergence of AI has the potential to boost productivity and efficiency in avariety of industries significantly. Therefore, we will study AI involvement invarious business sectors. For example, AI can be used to analyze large amountsof data, identify patterns, and make predictions, which can help businessesmake more informed decisions and optimize their operations. In addition,AI-powered automation can help reduce labor costs and increase output,particularly in industries with repetitive or dangerous tasks. This increasedproductivity can lead to increased business profits, driving economic growth.In particular, several business areas will be studied, such as finance andaccounting, manufacturing, and e-commerce. Hence, by observing the mainexamples, we can grasp the role of AI in those sectors to ensure the long-termwell-being of industries. Furthermore, the adoption of AI can also have an impact on the labor market.The research paper will study the advantages of AI adoption for employees.However, the widespread adoption of AI also poses significant challenges andrisks. One of the primary concerns is the potential for job displacement. Asmore tasks become automated, there is a risk that many workers will bedisplaced, particularly in industries with high levels of routine or repetitivetasks. This can lead to significant social and economic disruption,particularly if there is a mismatch between the skills of displaced workers andthe skills needed for new jobs in emerging industries.To give a better understanding of AI's influence on both companies andemployees, two case studies are going to be taken into consideration. Both ofthem are related to the latest news concerning ExxonMobil Hungary. In otherwords, it will prove that the theoretical data described in the research havealready become the reality of the global economy. Eventually, the paper will explore the importance of AI regulation. Due to thedrastic increase in AI use, there are a lot of potential risks that might haveterrible consequences unless regulated. It will be necessary for governmentsand businesses to work together to develop policies and regulations thatpromote the responsible development and deployment of AI. This could includemeasures to ensure that AI systems are transparent, accountable, and unbiasedand initiatives to provide retraining and support for displaced workers.In conclusion, AI's role in shaping the global economy's future is complex andmultifaceted. While AI has the potential to drive significant economic growthand create new industries and jobs, it also poses significant challenges andrisks. To maximize the benefits of AI and ensure that its deployment isresponsible and equitable, it will be necessary for governments, businesses,and society to work together to develop policies and initiatives that promoteits responsible development and deployment.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Külkereskedelmi Kar

Tanszék

Társadalomtudományi Módszertan Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Nemzetközi gazdálkodás

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	AI, automation, chatgpt, ExxonMobil, labor market
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2023. Szep. 07. 14:33
Utolsó módosítás:	2023. Szep. 07. 14:33

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