Turbulence on the Global Economy influenced by Artificial Intelligence and Foreign Policy Inefficiencies

Kwadwo Osei Bonsu and Jie Song

Papers from arXiv.org

Abstract: It is said that Data and Information are the new oil. One, who handles the data, handles the emerging future of the global economy. Complex algorithms and intelligence-based filter programs are utilized to manage, store, handle and maneuver vast amounts of data for the fulfillment of specific purposes. This paper seeks to find the bridge between artificial intelligence and its impact on the international policy implementation in the light of geopolitical influence, global economy and the future of labor markets. We hypothesize that the distortion in the labor markets caused by artificial intelligence can be mitigated by a collaborative international foreign policy on the deployment of AI in the industrial circles. We, in this paper, then proceed to propose a disposition for the essentials of AI-based foreign policy and implementation, while asking questions such as 'could AI become the real Invisible Hand discussed by economists?'.

Date: 2020-06
New Economics Papers: this item is included in nep-big
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2006.16911

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