The Role of Artificial Intelligence Technology in Promoting Socio-Economic Development

Abstract

This paper comprehensively examines the pivotal role of artificial intelligence (AI) technology in promoting socio-economic development. It commences by introducing the rapid advancements and current status of AI technology, which has permeated diverse industries through breakthroughs in big data, cloud computing, and deep learning. The paper highlights AI’s contributions to economic growth by enhancing production efficiency (e.g., 45% increase in efficiency through automation), optimizing resource allocation (25% raw material utilization improvement), and fostering innovative business models such as personalized customization and intelligent supply chain management. AI also fosters the emergence of new industries (intelligent medicine, education, finance) and creates substantial job opportunities directly for data scientists and algorithm engineers, and indirectly through driving related industries. Furthermore, AI facilitates industrial upgrading, transforming manufacturing into smart manufacturing, enhancing service quality in industries like retail, and modernizing agriculture with smart equipment. A case study on Chongqing Soft River Turing AI Technology Co., Ltd. showcases AI’s practical applications and corporate competitiveness enhancement. Overall, the paper underscores AI’s significance in economic growth, job creation, and industry transformation, while acknowledging challenges like data privacy and job displacement, emphasizing the need for strategic policy guidance and regulation.