International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 12 Issue: 02 | Feb 2025
p-ISSN: 2395-0072
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Benefits and Application of Generative Artificial Intelligence Ms. Geeta, Dr. Meenakshi Pareek2 1 Assistant Professor, Dept.of ICT, Kasturi Ram College of Higher Education Narela Delhi, India 2 Assistant Professor, Dept. of Computer Science, Banasthali Vidyapith, Tonk Rajasthan, India
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Abstract - The global economy is seeing a number of sectors undergo significant change as a result of artificial intelligence (AI). This study uses a mixed-methods approach to thoroughly analyze the advantages and applications of AI across many industries. It does this by combining quantitative analysis of AI implementation data with qualitative insights from expert interviews and case studies. The study looks into the patterns of AI adoption, the effects on particular industries, the implications for the economy and society, and regional differences in AI use.
human-machine interaction, transforming economies, and upending entire sectors. Researchers, governments, and business executives alike are interested in artificial intelligence (AI) because of its potential to spur innovation, increase productivity, and solve complex global challenges as we approach what many refer to as the Fourth Industrial Revolution. AI is becoming widely used in many different industries due to its quick advancement, greater computer capacity, and availability of data. Artificial intelligence (AI) is permeating every aspect of our everyday lives and work environments, from financial fraud detection to autonomous cars to tailored education. But this quick adoption of AI across a range of industries also brings up significant concerns about its longterm effects, ethical ramifications, and the requirement for flexible governance structures.
Key findings show that from 2015 to 2024, the use of AI will have increased by 63% across industries. Notable effects have been seen in the financial services sector (37% rise in fraud detection accuracy), healthcare (28% improvement in early disease identification), and manufacturing (42% reduction in unplanned downtime). According to the report, artificial intelligence would contribute $15.7 trillion to the world economy by 2030. It also draws attention to certain difficulties, such as the disruption of the workforce, which might result in the loss of 75 million jobs by 2025 but would also be compensated by the creation of 133 million new jobs.
In the twenty-first century, artificial intelligence (AI) has become a game-changing technology that is transforming many facets of business and society. AI, which has its roots in the idea of building robots that are capable of carrying out tasks that normally require human intelligence, has progressed from basic rule-based systems to sophisticated neural networks that are able to learn and adapt [1]. The quick development of AI technology, together with more accessible data and processing capacity, has made it widely used in a variety of industries, including healthcare, finance, manufacturing, and education [2].
The necessity for strong governance frameworks was emphasized by 68% of experts, who identified ethical considerations as essential factors, particularly with relation to AI governance and privacy. Significant geographical differences are also revealed by the research, with developing economies adopting AI at a 50% faster rate between 2020 and 2024 than developed economies.
The area of artificial intelligence began to take shape in the 1950s, when pioneers such as Alan Turing and John McCarthy laid the foundation for what would eventually become a revolutionary field [3]. AI has seen cycles of skepticism and enthusiasm throughout the years; they are known as "AI winters" [4]. However, a new era of AI capabilities and applications has begun with recent advances in machine learning, especially deep learning [5].
This work adds a deeper knowledge of the advantages and difficulties of AI to the expanding body of literature on the subject. In order to guarantee the fair distribution of AI advantages, it emphasizes the necessity of flexible legal frameworks, workforce development and education investments, and international collaboration. The results have consequences for researchers, industry leaders, and politicians. They also lay the groundwork for future study on the effects of AI in developing countries, long-term effects, and interdisciplinary AI research.
2. Problem Statement and Research Questions Even with the increasing application of AI, there is still a great deal to learn about its capabilities and constraints in various industries. The following questions are the focus of this study.
Key Words: Artificial Intelligence, machine learning, economic impact, ethical AI, workforce transformation, technological innovation
1. "What are the key benefits and applications of AI across various industries, and how can these is optimized to drive innovation and efficiency?"
1. Introduction As one of the most disruptive technologies of the twenty-first century, artificial intelligence (AI) is redefining the limits of
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