Economic Forecasting Through AI: A Comprehensive Review of AI Techniques and Advancements

Accurate forecasting is crucial in the dynamic world of economics for directing investments, policy choices, and long-term planning. A new era of economic forecasting has evolved with the rise of artificial intelligence, providing previously unheard-of potential to glean insightful information from complicated and copious data. This in-depth research article explores the mutually beneficial interaction between AI and economic forecasting. In order to offer distinctive viewpoints on economic developments, the study investigates AI approaches. Deep learning architectures and hybrid models, two advancements in these methodologies, have paved the way for enhanced forecasting accuracy and decision-making procedures. This survey demonstrates the revolutionary potential of AI in economic forecasting across multiple indices, revealing deep patterns that impact economies through real-world applications. This study emphasizes the need for open, strong, and morally sound AI-driven economic insights by addressing the issues and ethical concerns inherent to AI. This study provides a compass for academics, decision-makers, and economists alike as we navigate the growing AI landscape, pointing us in the direction of fully utilizing AI to shed light on the future of economic forecasting.