ARTIFICIAL INTELLIGENCE, ECONOMIC GROWTH AND JOB CREATION

Abstract

This paper explores the transformative impact of Artificial Intelligence (AI) on economic growth and job creation, focusing on its role in enhancing productivity across various sectors. As AI technologies advance, they are reshaping industries by automating routine tasks, optimizing processes, and driving innovation. The integration of AI into traditional industries, such as manufacturing, agriculture, and retail, has led to significant productivity improvements and economic growth. However, the rise of AI also presents challenges, including job displacement and the need for reskilling the workforce. This paper examines these challenges and proposes policy implications and strategies to manage the transition to an AI-driven economy effectively. By analyzing emerging trends in AI and forecasting future economic and job market changes, this paper highlights the need for proactive measures, such as education and skills development, supportive government policies, and responsible corporate practices. The findings underscore the importance of a collaborative approach to harnessing AI's potential while addressing its broader societal implications. Ultimately, this paper provides insights into the future directions of AI, emphasizing the need for strategic planning to ensure that AI-driven economic growth is inclusive and sustainable.