Keywords
Economic Development
artificial intelligence
Literature review
How to Cite
Accepted 2024-10-16
Published 2024-11-06
Abstract
Artificial Intelligence (AI) has emerged as a transformative force across various sectors, reshaping economies and societies globally. This review aims to provide a systematic analysis of the existing literature on the impact of AI on economic development. By conducting a combined bibliometric and content analysis of relevant studies from the past two decades, we identify major themes and research directions within the field. The review reveals that AI plays a significant role in enhancing productivity, fostering innovation, and driving economic growth. Key areas of influence include intelligent decision-making, labor market transformations, Industry 4.0, and social governance. However, AI also presents challenges such as ethical concerns, potential job displacement, and privacy risks. The findings highlight both opportunities and limitations of AI in economic contexts, emphasizing the need for policies that support positive economic impacts while mitigating adverse effects. This review provides scholars, policymakers, and industry leaders with a comprehensive understanding of AI’s evolving role in economic development and outlines future research directions to bridge current knowledge gaps.
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