An Empirical analysis in understanding the impact of Artificial intelligence on Economic policy in emerging economies

Abstract

The use of Advanced AI technologies to make better economic forecasts and judgments has recently gained popularity. When it comes to emerging economies, AI and its effects have a significant impact on the global economic policy practises that can instantly increase financial performance all over the world.
Nevertheless, over the past few years, forecasting future price decisions and labour technology has been difficult in a number of economic and financial sectors. The use of artificial intelligence nowadays makes it easier to address all possible issues in advanced markets by taking into account worldwide economic strategy.
By analysing primary data collected, the researchers have chosen a crucial quantitative data collection strategy. With the help of a sample technique and probability methodology, researcher requested about 65 individuals three survey inquiries about the subject. However, after examining the survey results, the overall research findings reveal that almost 60% of the participants agreed that AI can be utilised to make financial forecasts and decisions. On the other hand, nearly 25% of respondents felt that AI has a positive impact in lowering error rates while making accurate pricing predictions. Additionally, almost 15% of participants expressed that they believed that the usage of artificial intelligence will have a negative impact on product development and indeed the frequency at which labour would be automated. Each member from a diverse economic sector has chosen their stance on the application of economic AI for long-term, sustained development.