Impact of Artificial Intelligence (AI) on Existing Businesses and the Global Economy

Abstract

Artificial intelligence (AI) is rapidly transforming the business landscape and the global economy. This paper explores the multifaceted impact of AI on existing businesses, focusing on both opportunities and challenges. It analyzes how AI is enhancing productivity, optimizing decision-making, and creating new business models. The paper also examines the potential for job displacement and the need for workforce retraining. Furthermore, it discusses the broader economic implications of AI, including its contribution to economic growth, potential for inequality, and the importance of ethical considerations.