The main feature of economic theories is that they try to eliminate the effects of uncertainties by attempting to bring the future to the present. Artificial intelligence (AI) is the intelligence which is derived in a non-human manner out of synergy of working of individual units towards a specific direction with a defined objective, for example, in a room where many people are meditating out of their own choice without forcing others, a vibe is generated and motivates a newcomer to sit in meditation spontaneously. This vibe does not belong to any body in particular, but benefits everybody in performing the meditation activity smoothly. It is AI.
Artificial Intelligence in Economics
Publication Information
Journal Title: South Asian Law & Economics Review
Author(s): Dr. L. Johncy
Published On: 11/01/2024
Volume: 8
First Page: 214
Last Page: 224
ISSN: 2581-6535
Publisher: The Law Brigade Publisher
DOI Not Allotted [Get DOI]
Cite this Article
Dr. L. Johncy, Artificial Intelligence in Economics, Volume 8, South Asian Law & Economics Review, 214-224, Published on 11/01/2024, Available at https://saler.thelawbrigade.com/article/artificial-intelligence-in-economics/
Abstract
Keywords: AI in general equilibrium, Price fixing, Find loan defaulters, Tools of AI.
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