THE IMPACT OF ARTIFICIAL INTELLIGENCE ON THE UKRAINIAN AND INTERNATIONAL ECONOMY

Abstract

Objective. Every year, artificial intelligence developers offer the world more and more digital tools that greatly simplify and optimise the processing of large amounts of data that used to take a lot of time and resources to calculate. Results. Currently, there is a lot of debate among experts about the quality of information generated by AI and whether businesses should use the power of artificial intelligence to solve such complex issues as consumer behaviour research in the consumer market. Recent studies claim that AI increases productivity and significantly affects microeconomic processes, which leads to certain economic consequences. Experts' forecasts differ on how artificial intelligence will affect the global economy in the future. It is predicted that by 2030, global gross domestic product could grow by 14% (equivalent to USD 15.7 trillion) as a result of accelerated development and implementation of AI. This will facilitate standardisation and automation, as well as improve the personalisation of products and services. The contribution of AI to economic growth could be three times higher by 2030 than in the coming years. The global net value added impact of $13 trillion compared to today's global GDP is likely to develop over a longer period. Due to the rapid spread of artificial intelligence technology, its use is becoming almost mandatory to increase competitive advantage in the market. Rather than serving as a replacement for humans, AI is generally seen as a complementary technology. Artificial intelligence still finds it difficult to perform some of the tasks that humans are used to in the real world, but it can process and analyse data sets much faster than the human brain. Businesses can already use artificial intelligence to determine the possible consequences of each action and simplify the decision-making process. Practical significance. The article highlights the problems of using artificial intelligence in the economic environment, identifies effective and cheap methods of optimising economic processes using artificial intelligence, and explores the power of artificial intelligence to optimise economic processes.