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Innovative Economic Development in Developing Countries through AI and Tackling Globalization | IEEE Conference Publication | IEEE Xplore

Innovative Economic Development in Developing Countries through AI and Tackling Globalization


Abstract:

This document explores the significant impact of advances in artificial intelligence (AI) and automation technologies on the global economy, particularly on developing co...Show More

Abstract:

This document explores the significant impact of advances in artificial intelligence (AI) and automation technologies on the global economy, particularly on developing countries and emerging markets. By focusing on the economic paradigm shift caused by AI, this analysis reveals how this technology can reverse the economic gains these countries have achieved over the past half century. AI and automation technologies tend to save labor and resources, creating a dynamic in which developed countries reap greater benefits, while developing countries face the risk of increasing poverty and inequality. Highlighting how AI can make the comparative advantages that developing countries rely on, such as abundant labor and natural resources, less relevant. This could worsen global economic imbalances and deepen the gap between developed and developing countries. To address these challenges, this document proposes a series of economic policies designed to mitigate the negative impacts of technological progress, while exploiting the potential benefits it offers. This includes domestic policies and development strategies, as well as international cooperation and reforms in global economic governance. Taking into account the widespread uncertainty regarding the impact of AI and rapid changes in the global economy, this document offers a comprehensive view of how developing countries can navigate and leverage this new era of technology to achieve greater shared prosperity.
Date of Conference: 07-08 August 2024
Date Added to IEEE Xplore: 08 October 2024
ISBN Information:
Conference Location: Tangerang, Indonesia

References

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