Artificial Intelligence & Its Impact on the Economy

This article aims to bring a relevant interconnection between artificial intelligence and the economy in this era of dynamism circumnavigated by constant technological advancement to enhance the quality and quantity of output. It also draws a distinction to some major economies that have taken steps in recognising the impact of AI in the economy. It further establishes the various steps and evaluation in determining the legality of artificial intelligence at the national level and the various steps taken to ensure that its interpretation is sector specific. Possible suggestions have been enumerated for the enhancement of adoption of technology with less harm to the natural intelligence in the modern society and friendly ways of its adoption for the benefit of each sector of the economy. The distinction aims to create a harmony between the dynamism of technology and the benefit of it to the economy through the positive or ethical practise of the advance in technology (AI)