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ARTIFICIAL INTELLIGENCE AND FORECASTING MACROECONOMIC INDICATORS

Alfiya F. Sadreeva,Osman M. Minaev,M. A. Borlakova

2024 · DOI: 10.36871/ek.up.p.r.2024.12.04.012
EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA · 0 Citations

TLDR

The potential of AI, in particular machine learning and deep learning, to improve the accuracy of forecasts of key economic indicators such as GDP, inflation, unemployment, and exchange rates is examined.

Abstract

The use of artificial intelligence (AI) in forecasting macroeconomic indicators is becoming increasingly relevant in the context of global economic changes and uncertainty. Traditional forecasting methods often face limitations in processing large volumes of data and identifying complex patterns. This article examines the potential of AI, in particular machine learning and deep learning, to improve the accuracy of forecasts of key economic indicators such as GDP, inflation, unemployment, and exchange rates. Examples of AI application in various countries are presented, and the benefits and challenges faced by researchers and practitioners in the field of macroeconomic forecasting are assessed. It is expected that the introduction of AI in economic analysis will provide a significant improvement in the quality of forecasts, as well as expand the possibilities for a more flexible response to economic risks and uncertainties.