article · Asian Journal of Economics Business and Accounting
Artificial intelligence is reshaping economic structures and employment across the globe. Drawing on data from a survey of 642 professionals, including consultants, industry experts, technology enthusiasts, and policymakers, this research examines how artificial intelligence influences organisational competitiveness, socioeconomic outcomes, and national policies. The findings indicate that integrating artificial intelligence into business processes significantly enhances an organisation's competitive standing. At the community level, widespread adoption correlates with improved socioeconomic conditions, though it carries the risk of widening existing inequalities. Furthermore, national economic strategies prioritising innovation and artificial intelligence are linked to stronger international competitiveness. Because these technological shifts alter workforce dynamics and job roles, effective adaptation requires strategic adoption in commerce alongside targeted workforce upskilling and international cooperation on ethical standards.
As artificial intelligence reshapes the global economic landscape, understanding its impact on businesses and communities is essential. The findings demonstrate that while artificial intelligence can drive organisational efficiency and national competitiveness, it also alters labour requirements and threatens to deepen inequalities. This evidence helps businesses and policymakers design training programmes and policies that capture economic gains while protecting workers.
The research does not introduce a specific proprietary product or technology, but rather provides applied strategic insights based on survey data from 642 cross-sector professionals. These insights can guide technology leaders, corporate strategists, and policymakers in planning enterprise artificial intelligence adoption, restructuring job functions, and designing workforce training programmes to maintain commercial competitiveness during digital transformation.
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The study investigates the profound impact of Artificial Intelligence (AI) on various facets of the global economic landscape. Against a backdrop of rapid technological advancements, the study draws on the context of the pivotal IMF report highlighting the transformative potential of AI. The report suggests that AI could modify, replace, or transform about 60% of jobs in advanced economies and a significant proportion in emerging and low-income countries, reflecting a global paradigm shift in employment and economic structures. The core objective of this study is to thoroughly examine the role of AI-driven innovation in organizational competitiveness, its impact on community development and socioeconomic dynamics, and its implications on national economic policies and global economic trends. A quantitative research methodology was employed, involving a structured survey targeting a diverse group of professionals in various industries. The survey was meticulously designed to capture insights into participants' experiences and perceptions regarding AI implementation and its impacts. A total of 642 valid responses from consultants, technology enthusiasts, industry experts, and policymakers provided a robust dataset for analyzing the study's four hypotheses. The research findings reveal that AI integration significantly bolsters organizational competitiveness, echoing the insights from contemporary literature. Higher levels of AI adoption in communities are linked to improved socioeconomic outcomes, albeit with the risk of intensifying existing inequalities. On a national scale, strategies focusing on AI and innovation correlate with enhanced global economic competitiveness. Furthermore, the integration of AI in business processes markedly influences workforce dynamics, necessitating shifts in skill requirements and job roles. In light of these findings, the paper recommends strategic AI integration within businesses, equitable policy frameworks for AI deployment, a focus on AI in national economic strategies, substantial investment in workforce training, and international collaboration in AI development and ethics are imperative for maximizingAI's benefits while mitigating potential risks.
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DOI: 10.9734/ajeba/2024/v24i41269
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