• Dr. Carolline David
• Mrs. Bhavana. R. Mulani

Over the years, rapid advancements have been evident in almost every hook and corner of the world. This growth and development are achieved in every terrain due to the exploration and innovation in artificial intelligence. The development effects of AI have waved path for transitional dynamics which have profound implications for society as a whole as well as on the economy. The advancements in AI can influence a wide range of characteristics directly. These innovations have a significant impact on employment, productivity and competition. Advancements in AI have hiked the efficiency of household utility, which has boosted the productivity of goods. Accumulation of AI in business activities would attempt to replace the human workforce. The research paper attempts to establish a relationship between the economic development of the nation and society as a whole. The research is exploratory hence data is collected through primary and secondary sources both. The data collection method used is an electronic questionnaire and interviews with 842 respondents from different areas like production, promotion and distribution. An attempt is made to find the potential of AI to introduce reforms in the innovation processes which would eventually reflect profound consequences over the long run. These transformations in creativity and innovation processes would dominate the direct effect.

Growth, Development, Artificial Intelligence, Dynamics.

"ROLE OF ARTIFICIAL INTELLIGENCE IN MODELLING THE ECONOMIC GROWTH AND WELFARE", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 2, page no.79-83, February-2024, Available :http://www.jetir.org/papers/JETIRGC06010.pdf

"ROLE OF ARTIFICIAL INTELLIGENCE IN MODELLING THE ECONOMIC GROWTH AND WELFARE", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 2, page no. pp79-83, February-2024, Available at : http://www.jetir.org/papers/JETIRGC06010.pdf