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The Role, Effectiveness, and Challenges of AI Tools in Reshaping the Economies
Abstract
Development means the suppression of the traditional sector by concentrating on the modern sector and expanding that modern sector. The renowned economist like Kuznets, Chenery, Fisher, and Clark have observed a dialectal relationship between structural transformation and economic development which suggests the transformation of ancillary-proficient technology, entrepreneurship, pattern of investment, variations in the composition of consumer‘s demand, international trade, resource allocation, factor intensity, international specialism, efficient capital accumulation in physical as well as human capital, changes in such socio-economic factors. The collaboration of economies with technology has a tendency to encourage new skills, more productivity, and thus boost the status of economies. The AI tools have tried to contribute to every sector of the economy. The present study is an effort to understand the role, effectiveness, and challenges of AI tools in reshaping the major three sectors of the economies through systematic literature review technique using PRISMA model.
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