Artificial Intelligence (AI) has become increasingly important in the present and the future due to its potential to revolutionize various industries and aspects of society. The effects of AI on the world economy are multifaceted and dynamic. They depend on how AI technologies are developed, adopted, and regulated, as well as how societies and industries adapt to the changing landscape. Balancing the potential benefits of AI with its challenges is a complex task that requires collaboration between governments, industries, and other stakeholders. AI in the future is expected to continue shaping industries and society in profound ways. As technology advances, AI could potentially lead to breakthroughs such as general artificial intelligence (machines that can perform any intellectual task that a human can), advanced robotics, and enhanced human-AI collaboration. However, carefully considering its social, ethical, and economic implications is essential to harness its benefits while minimizing potential risks.

Dr Riyadh Jasim Mohammed Al-Saadi thank you for your contribution to the discussion

AI's strength is its ability to process all available data, sorting through what's relevant so that the algorithm can present options to the human based on analysis rather than superstition. Operating under this principle, AI doesn't substitute its judgment for human decisions. AI can help automate and speed up processes within society, such as increasing efficiency in the workplace or improving decision making. Additionally, AI can help identify and solve problems that humans may not be able to see or solve on their own. The World Economic Forum concluded in October 2020 that while AI would likely take away 85 million jobs globally by 2025, it would also generate 97 million new jobs in fields ranging from big data and machine learning to information security and digital marketing. AI has become increasingly important in today's world as it has the potential to revolutionize many industries, including healthcare, finance, education, and more. The use of AI has already improved efficiency, reduced costs, and increased accuracy in various fields. Experts also point to multiple negative impacts of AI technologies. The first is labour replacement that AI technologies bring to the table. AI can automate repetitive tasks and with generative AI, even creative tasks can be done efficiently and fast. The productivity of artificial intelligence may boost our workplaces, which will benefit people by enabling them to do more work. As the future of AI replaces tedious or dangerous tasks, the human workforce is liberated to focus on tasks for which they are more equipped, such as those requiring creativity and empathy.

The contribution of AI to the economy will be highly dependent on whether countries will embrace it in its entirety. Some countries may not embrace it.

Dr Peterson K Ozili thank you for your contribution to the discussion

AI can help automate and speed up processes within society, such as increasing efficiency in the workplace or improving decision making. Additionally, AI can help identify and solve problems that humans may not be able to see or solve on their own. These machines tend to speed up your tasks and processes with guaranteed precision and accuracy, making them useful and important tools. Apart from making the world error-free with their simple and everyday techniques, these technologies and applications are not only related to our general and everyday lives.AI's strength is its ability to process all available data, sorting through what's relevant so that the algorithm can present options to the human based on analysis rather than superstition. Operating under this principle, AI doesn't substitute its judgment for human decisions. One of the most obvious ways AI is shaping the future is through automation. With the help of machine learning, computers can now perform tasks that were once only possible for humans to complete. This includes tasks such as data entry, customer service, and even driving cars.AI would likely take away 85 million jobs globally by 2025; it would also generate 97 million new jobs in fields ranging from big data and machine learning to information security and digital marketing. AI has become increasingly important in today's world as it has the potential to revolutionize many industries, including healthcare, finance, education, and more. The use of AI has already improved efficiency, reduced costs, and increased accuracy in various fields. Experts also point to multiple negative impacts of AI technologies. The first is labour replacement that AI technologies bring to the table. AI can automate repetitive tasks and with generative AI, even creative tasks can be done efficiently and fast. AI has the potential to automate many jobs and industries, which could lead to significant economic disruption. If AI were to take over humanity, it could lead to widespread job loss and economic instability, which could have a ripple effect throughout society.AI will treat, and largely eliminate, neurological disorders like Alzheimer's, Parkinson's, most birth defects, and spinal cord injuries as well as blindness and deafness. By 2050 robotic prosthetics may be stronger and more advanced than our own biological ones and they will be controlled by our minds. At all levels of education, AI will likely be transformative. Students will receive educational content and trainings tailored to their specific needs. AI will also determine optimal educational strategies based on students' individual learning styles. By 2028, the education system could be barely recognizable. AI is a set of techniques that allows us to analyze data and make inferences and predictions based on it, making decision-making process more data-driven.