Role of Information Communication Technology, Artificial Intelligence and Impact on GDP

Abstract

Demand and supply still remains the main instrument to determine the role of information and communication technology on gross domestic product and growth.

ICT Abstract: There is an increasing body of research, investigating the determinants of economic growth in China. Most studies have focused on technology results in increase demand for new products and services. This demand on the supply side naturally accounts for increase efficiency in production of services, goods and infrastructure. Knowledge spill overs, triadic patents and researcher-related activities spanning number of publications and people employed in the high-tech sectors. Although increases in innovation stemming from R&D activities are evident, the extent of economic growth is contingent on the market size (IMF reference). This paper investigates the relationship between exogenously-determined growth, proxied by ICT imports, and endogenous drivers of economic growth, by employing ICT exports. The verifies the hypothesis by employing a machine learning approach to Pearson’s correlation and employs the Augmented Dickey Fuller test to test for multicollinearity. The study postulates evidence-based policy recommendations that will facilitate the transition of the Chines economy towards and innovation-driven and consumer led economy.

Keywords: ICT, GDP, GROWTH, DEVELOPMENT, ECONOMIC GROWTH, FINANCE