Conceptual basis of Development and Application of Artificial Intelligence Technologies in Forecasting Economic Processes

Abstract

The article is devoted to the issues of forming the conceptual bases for the development and application of artificial intelligence technologies in the forecasting of economic processes. The relevance of developing a conceptual approach to the application of artificial intelligence technologies to predicting economic processes is substantiated. An overview analysis of relevant related scientific research works was conducted and the state of problem development was studied. Artificial intelligence includes machine and deep learning, natural language processing, computer vision, expert systems, fuzzy logic, genetic algorithms, etc. such methods and means were explained. Artificial intelligence methods based on evolution-algorithm, Data-mining technology, machine learning technology, and computer vision were analyzed in forecasting economic processes. The basis of the application of the neoclassical production function in predicting the impact of artificial intelligence on economic growth has been investigated. Neoclassical models were used to investigate the impact of artificial intelligence technology on production. Based on data mining technology, the economic development potential forecasting model and its forecasting adequacy were explained. The structural scheme of the main components of the application of artificial intelligence technology in the forecasting of economic processes has been developed. In order to increase the stability of economic development and predict economic processes by means of artificial intelligence technologies, relevant proposals, and recommendations were made, taking into account the technological requirements and priorities of the elements of the Industry 4.0 platform.