20–24 May 2024
Baia Mare, Technical University of Cluj-Napoca
Europe/Bucharest timezone

Intelligent Economy: How AI and ML Are Revolutionizing the Way We Think About and Approach Economic Processes

21 May 2024, 14:00
15m
Aula (Baia Mare, Technical University of Cluj-Napoca)

Aula

Baia Mare, Technical University of Cluj-Napoca

Str. Dr. Victor BABEȘ 62A
Economic sciences Economic Sciences

Speaker

Ioan-Anton Săvulescu

Description

This paper examines the application of Artificial Intelligence (AI) and Machine Learning (ML) in the economic environment. The primary objective is to analyze the impact of these technologies on economic performance and efficiency through task automation, cost reduction, and decision-making process improvement.

In recent years, AI and ML have fundamentally shifted the paradigm in economics area, from data analysis and forecasting to workflow optimization and efficiency enhancement. These technologies have demonstrated enormous potential in boosting productivity and financial performance of the companies.

The paper explores how AI and ML contribute to these essential aspects of economic processes. It also presents a specific application of a chatbot that enhances employee productivity, thus bringing added value to various tasks and activities. Through concrete examples, the paper highlights how these technologies can be effectively integrated into the economic environment, while countering existing challenges.

In conclusion, it's foreseen that AI and ML will become increasingly prevalent in the economy, bringing about a significant change in the approach to economic problems. The goal of this paper is to contribute to the development and application of these technologies in the specific context of economic processes, anticipating a future where efficiency and performance will be empowered through artificial intelligence and machine learning.

Primary authors

Ioan-Anton Săvulescu Prof. Mirela Panait (Universitatea Petrol-Gaze din Ploiești)

Presentation materials

Proceedings

Paper

Slides