ARTIFICIAL INTELLIGENCE AND ECONOMIC DEVELOPMENT: MAPPING OPPORTUNITIES FOR DEVELOPING COUNTRIES
Keywords:
Artificial Intelligence, Economic Development, Developing Countries.Abstract
Artificial Intelligence (AI) is considered a future driver for accelerating economic development in developing countries. This study aims to assess the impacts and challenges of AI integration in critical sectors and its implications for economic growth and social inclusion in developing countries. The research method used in this study is the literature review method. The results show that AI has been successfully applied in the agriculture, health, education, and finance sectors in developing countries, contributing significantly to improving efficiency, service quality, and access. However, the implementation is faced with a number of challenges such as a lack of digital infrastructure, a shortage of labor skilled in information technology and AI, and data and privacy regulatory challenges. Further research also shows that cooperation between the government, private sector, and international bodies is crucial in overcoming these obstacles.
References
Adigwe, C., Olaniyi, O., Olabanji, S., & ... (2024). Forecasting the Future: The Interplay of Artificial Intelligence, Innovation, and Competitiveness and its Effect on the Global Economy. … of Economics …, Query date: 2024-05-19 10:55:44. http://library.go4manusub.com/id/eprint/2056/
Akour, I., Alzyoud, M., Alquqa, E., Tariq, E., & ... (2024). Artificial intelligence and financial decisions: Empirical evidence from developing economies. … Journal of Data and …, Query date: 2024-05-19 10:55:44. http://m.growingscience.com/beta/ijds/6464-artificial-intelligence-and-financial-decisions-empirical-evidence-from-developing-economies.html
Alam, M., Deb, J., Amin, A. A., & Chowdhury, S. (2024). An artificial neural network for predicting air traffic demand based on socio-economic parameters. Decision Analytics Journal, Query date: 2024-05-19 10:55:44. https://www.sciencedirect.com/science/article/pii/S2772662223002229
Aldarraji, M., Vega-Márquez, B., Pontes, B., Mahmood, B., & ... (2024). Addressing energy challenges in Iraq: Forecasting power supply and demand using artificial intelligence models. Heliyon, Query date: 2024-05-19 10:55:44. https://www.cell.com/heliyon/pdf/S2405-8440(24)01852-8.pdf
Alluhaidan, A. (2024). Artificial intelligence for public perception of drones as a tool for telecommunication technologies. Computational Intelligence, Query date: 2024-05-19 10:55:44. https://doi.org/10.1111/coin.12507
Almeida, D., Naudé, W., & Sequeira, T. (2024). Artificial Intelligence and the Discovery of New Ideas: Is an Economic Growth Explosion Imminent? papers.ssrn.com. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4709699
Arruda, E., & Arruda, D. (2024). Artificial intelligence for SDG 4 of the 2030 agenda: Transforming education to achieve quality, equality, and inclusion. Sustainable Economies, Query date: 2024-05-19 10:55:44. https://sin-chn.com/index.php/SE/article/view/34
Buera, F., Kaboski, J., & Townsend, R. (2023). From micro to macro development. Journal of Economic Literature, Query date: 2024-05-19 10:12:33. https://www.aeaweb.org/articles?id=10.1257/jel.20211537
Carlsen, H., Nykvist, B., Joshi, S., & Heintz, F. (2024). Chasing artificial intelligence in shared socioeconomic pathways. One Earth, Query date: 2024-05-19 10:55:44. https://www.cell.com/one-earth/pdf/S2590-3322(23)00599-7.pdf
Cerra, V., Fatás, A., & Saxena, S. (2023). Hysteresis and business cycles. Journal of Economic Literature, Query date: 2024-05-19 10:12:33. https://www.aeaweb.org/articles?id=10.1257/jel.20211584
Cheng, C., Luo, J., Zhu, C., & Zhang, S. (2024). Artificial intelligence and the skill premium: A numerical analysis of theoretical models. Technological Forecasting and Social …, Query date: 2024-05-19 10:55:44. https://www.sciencedirect.com/science/article/pii/S0040162523008259
Choudhary, S. (2024). Artificial Intelligence and Its Impact on Economic Growth. Shodh Sari-An International Multidisciplinary …, Query date: 2024-05-19 10:55:44. https://icertpublication.com/wp-content/uploads/2024/01/132.-Artificial-Intelligence-and-Its-Impact-on-Economic-Growth.pdf
Dai, L., Shen, J., & Zhang, F. (2024). Development status and application analysis of new energy photovoltaic power generation energy market based on artificial intelligence. International Journal of Low …, Query date: 2024-05-19 10:55:44. https://doi.org/10.1093/ijlct/ctae009/7612922
Essien, E., Odejide, G., & Henrietta, A. (2024). A Paradigmatic Discourse on the Correlation between Investing in Artificial Intelligence, Effective Communication and National Transformation. Int. J. Adv. Multidiscip. Res, Query date: 2024-05-19 10:55:44. https://www.researchgate.net/profile/Essien-Essien-5/publication/377181951_A_Paradigmatic_Discourse_on_the_Correlation_between_Investing_in_Artificial_Intelligence_Effective_Communication_and_National_Transformation/links/6598581e6f6e450f19ce4532/A-Paradigmatic-Discourse-on-the-Correlation-between-Investing-in-Artificial-Intelligence-Effective-Communication-and-National-Transformation.pdf
Fernando, N., TA, K., & Zhang, H. (2024). An artificial neural network (ANN) approach for early cost estimation of concrete bridge systems in developing countries: The case of Sri Lanka. Journal of Financial Management of …, Query date: 2024-05-19 10:55:44. https://doi.org/10.1108/JFMPC-09-2022-0048
Gedikli, A., Sharma, G., Erdoğan, S., & Hammoudeh, S. (2024). Artificial intelligence, disruption of financial markets and natural resources economy in the digital era. Resources Policy, Query date: 2024-05-19 10:55:44. https://www.sciencedirect.com/science/article/pii/S0301420724003209
He, Y. (2024). Artificial intelligence and religious freedom: Divergent paths converging on economic expansion. Humanities and Social Sciences Communications, Query date: 2024-05-19 10:55:44. https://www.nature.com/articles/s41599-024-02642-0
Hine, E., & Floridi, L. (2024). Artificial intelligence with American values and Chinese characteristics: A comparative analysis of American and Chinese governmental AI policies. AI &SOCIETY, Query date: 2024-05-19 10:55:44. https://doi.org/10.1007/s00146-022-01499-8
Kumar, G., Singh, R., Arya, V., & Mishra, S. (2024). Analyzing Barriers in Adoption of Artificial Intelligence for Resilient Health Care Services to Society. Global Journal of Flexible …, Query date: 2024-05-19 10:55:44. https://doi.org/10.1007/s40171-024-00373-4
Li, W., Gou, F., & Wu, J. (2024). Artificial intelligence auxiliary diagnosis and treatment system for breast cancer in developing countries. Journal of X-Ray Science and Technology, Query date: 2024-05-19 10:55:44. https://content.iospress.com/articles/journal-of-x-ray-science-and-technology/xst230194
List, J., Petrie, R., & Samek, A. (2023). How experiments with children inform economics. Journal of Economic Literature, Query date: 2024-05-19 10:12:33. https://www.aeaweb.org/articles?id=10.1257/jel.20211535
Makhmudova, G., Karimov, D., & ... (2024). COMPARATIVE ANALYSIS OF DIGITAL ECONOMY DEVELOPMENT IN DEVELOPING AND DEVELOPED COUNTRIES. … and Development, Query date: 2024-05-19 10:55:44. http://www.ajird.journalspark.org/index.php/ajird/article/view/928
Mukherjee, S., Nagariya, R., Mathiyazhagan, K., & ... (2024). Artificial intelligence-based reverse logistics for improving circular economy performance: A developing country perspective. … International Journal of …, Query date: 2024-05-19 10:55:44. https://doi.org/10.1108/IJLM-03-2023-0102
Mumuni, A., Hasford, F., Udeme, N., & ... (2024). A SWOT analysis of artificial intelligence in diagnostic imaging in the developing world: Making a case for a paradigm shift. Physical Sciences …, Query date: 2024-05-19 10:55:44. https://doi.org/10.1515/psr-2022-0121
Naudé, W., Gries, T., & Dimitri, N. (2024). Artificial Intelligence: Economic Perspectives and Models. books.google.com. https://books.google.com/books?hl=en&lr=&id=VscFEQAAQBAJ&oi=fnd&pg=PR11&dq=artificial+intelligence+economic+development+developing+countries&ots=G4OITyGnSa&sig=pkmL7iQLbh1GRkadlmdFPtpI5j8
Ozili, P., Ademiju, A., & Rachid, S. (2023). Impact of financial inclusion on economic growth: Review of existing literature and directions for future research. … Journal of Social Economics, Query date: 2024-05-19 10:12:33. https://doi.org/10.1108/IJSE-05-2022-0339
Pham, H., Nong, D., Simshauser, P., Nguyen, G., & ... (2024). Artificial intelligence (AI) development in the Vietnam’s energy and economic systems: A critical review. Journal of Cleaner …, Query date: 2024-05-19 10:55:44. https://www.sciencedirect.com/science/article/pii/S0959652624001392
Qin, W. (2024). How to unleash frugal innovation through internet of things and artificial intelligence: Moderating role of entrepreneurial knowledge and future challenges. Technological Forecasting and Social Change, Query date: 2024-05-19 10:55:44. https://www.sciencedirect.com/science/article/pii/S0040162524000829
Rasheed, M., Yuhuan, Z., Ahmed, Z., Haseeb, A., & ... (2024). … , economic growth, natural resources, and renewable energy production: Evaluating the asymmetric and symmetric impacts of artificial intelligence in robotics and …. Journal of Cleaner …, Query date: 2024-05-19 10:55:44. https://www.sciencedirect.com/science/article/pii/S0959652624009144
Saleh, M. (2024). Artificial Intelligence in Libyan Industries: Current State and Future Prospects. Journal of Reproducible Research, Query date: 2024-05-19 10:55:44. https://journalrrsite.com/index.php/Myjrr/article/view/65
Singh, B., Singh, M., & Devi, R. (2024). Artificial Intelligence in Medical Imaging for Developing Countries: Challenges and Opportunities. Concepts of Artificial Intelligence and …, Query date: 2024-05-19 10:55:44. https://doi.org/10.1201/9781003333081-2
Song, M., Pan, H., Shen, Z., & Tamayo-Verleene, K. (2024). Assessing the influence of artificial intelligence on the energy efficiency for sustainable ecological products value. Energy Economics, Query date: 2024-05-19 10:55:44. https://www.sciencedirect.com/science/article/pii/S0140988324001002
Sorkhi, A., & Pourasghar, F. (2024). Artificial intelligence application in healthcare management: A review of challenges. International Journal of Healthcare …, Query date: 2024-05-19 10:55:44. https://doi.org/10.1504/IJHTM.2024.136547
Tripathi, P., & Saxena, P. (2024). An Assessment of the Role of Artificial Intelligence on Sustainable Development Goals. … Distributed Registries for Sustainable Development …, Query date: 2024-05-19 10:55:44. https://doi.org/10.1007/978-3-031-51067-0_1
Wang, X., He, T., Wang, S., & Zhao, H. (2024). The Impact of Artificial Intelligence on Economic Growth From the Perspective of Population External System. Social Science Computer …, Query date: 2024-05-19 10:55:44. https://doi.org/10.1177/08944393241246100
Wu, H., Jin, K., Yip, C., Koh, V., & Ye, J. (2024). A systematic review of economic evaluation of artificial intelligence-based screening for eye diseases: From possibility to reality. Survey of Ophthalmology, Query date: 2024-05-19 10:55:44. https://www.sciencedirect.com/science/article/pii/S0039625724000250
Yang, S., & Liu, F. (2024). Impact of industrial intelligence on green total factor productivity: The indispensability of the environmental system. Ecological Economics, Query date: 2024-05-19 10:55:44. https://www.sciencedirect.com/science/article/pii/S0921800923002847
Zhao, C., Li, Y., Liu, Z., & Ma, X. (2024). Artificial intelligence and carbon emissions inequality: Evidence from industrial robot application. Journal of Cleaner Production, Query date: 2024-05-19 10:55:44. https://www.sciencedirect.com/science/article/pii/S0959652624002646
Downloads
Published
Issue
Section
License
Copyright (c) 2024 INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE © 2023 by Adisam Publisher is licensed under CC BY-SA 4.0