Artificial Intelligence, Economic Growth and the end of the Free Market
Artificial Intelligence, Economic Growth and the end of the Free Market

Author(s): Miroslav Kamdzhalov
Subject(s): Politics / Political Sciences, Economy, Business Economy / Management, Economic policy, ICT Information and Communications Technologies
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: artificial Intelligence; economic growth; economic freedom
Summary/Abstract: Artificial Intelligence occupies the minds of scholars, researchers and curios people. In the economic context, there are numerous topics concerning Artificial Intelligence to think about. Implementation of such disruptive technology will presumably increase economic growth as a whole. Looking at the details, we cannot conclude unambiguously that this will happen in a proper manner. This article will try to look beyond the current development of artificial intelligence applications. These days, we use more and more of them. There are numerous fields of applications of Artificial Intelligence such as natural language processing, machine learning, problem-solving, uncertain knowledge, robotics, etc. Meanwhile, our world still does not have the full-fledged Artificial Intelligence, one who can substitute man. When this happens, there will be a completely different society with new economic and social policies. This study attempts to figure out what could be the probable outcomes of Artificial Intelligence on economic theory and practice. In order to achieve this, content analysis, induction, and deduction have been applied.

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