Economy
AI and the Economy
Definition
The economic impact of artificial intelligence — from productivity gains and new industries to job displacement and market concentration.
Explanation
AI could add $7-15 trillion to global GDP by 2030 (McKinsey/PwC estimates). The US and China dominate AI investment. AI is already transforming healthcare diagnostics, financial services, logistics, and content creation. Concerns include job displacement, algorithmic bias, wealth concentration, and the need for new regulatory frameworks.