Artificial intelligence has usually been defined as the ability of a machine to imitate intelligent human behavior, and although global economies have witnessed many technological revolutions that have led to the completion of tasks previously performed by workers, experts expect that the artificial intelligence revolution will hit us differently, because it has become A major contributor to what was previously thought of as only human empowerment
AI is expected to stimulate growth by replacing labor with capital, whether in the production of goods and services or in the production of ideas. However, artificial intelligence is also expected to hinder economic growth if combined with inappropriate competition policy.
That is why scientists will certainly say that any progress in any field is an achievement in itself, but what are the effects of the development of artificial intelligence on the economy?
Artificial intelligence can spur growth by providing an endless supply of idea production. AI is good for growth because it boosts productivity, but some argue that it is bad for employment because it replaces labor with machines, in which case it is necessary to think of the labor market as flexible.