Abstract

This chapter constitutes a comprehensive exploration of the far-reaching impact of Artificial Intelligence (AI) on the domains of commerce and economics. It conducts a thorough analysis, meticulously concentrating on the intricate aspects of analytics and decision-making. Within this dynamic landscape, the research not only elucidates the transformative role of Artificial Intelligence in predictive and descriptive analytics but also delves into its nuanced contributions to tracking market trends, risk mitigation, and the enhancement of operational decision-making processes. Examining the economic implications of Artificial Intelligence, the chapter goes beyond a cursory overview, providing a detailed understanding of documented instances where Artificial Intelligence has led to heightened productivity and subtle yet impactful shifts in labour dynamics. By grounding its analysis in real-world examples, the study aims to uncover the intricacies of how Artificial Intelligence is actively reshaping traditional economic paradigms, potentially ushering in a redefined fabric of commerce. Recognizing the pivotal role of Artificial Intelligence in driving efficiency and innovation, the research places a heightened emphasis on addressing inherent biases embedded within AI models. It advocates not only for the identification of these biases but also proposes meticulous rectification processes to ensure the fostering of fairness and equity in AIdriven decision-making. The study acknowledges ethical dimensions associated with the integration of Artificial Intelligence, highlighting the imperative for responsible Artificial Intelligence development and deployment, especially in economic settings. Furthermore, the paper identifies the essence of the AI-driven era in commerce and economics, foreseeing a landscape where Artificial Intelligence becomes indispensable for informed decision-making. It not only outlines the current landscape but also proposes future lines of inquiry to guide ongoing research. This paper, therefore, stands as a substantive and forward-thinking resource for scholars, practitioners, and policymakers alike, seeking to navigate and understand the evolving intersection of Artificial Intelligence, commerce, and economics.