The Importance of Technology, R&D and AI in the US Economy
Year: 2023
Type: article
Abstract: As AI technology became a trend and have entered nearly every household and firm, thetopic of technology R&D and its influence on economy is tackled in the study, moreparticularly the United States case which is home to the most known technological firmsin the world as Chat GPT, Meta, Microsoft and Google. The study suggests that whiletechnological advance is key for the growth in the US economy, yet its impact is indirect,and while R&D monetary funding is important, yet to a much lesser extent than humancapital and researchers in R&D, this statement is supported by World Bank Data, finallythe study highlighted that the United States is only one of many entities that participate intechnological development, and in the near future Artificial intelligence andtechnological firms are poised to become "one of the most lucrative investment sectors
Source: MIGRATION LETTERS
Authors: Beainy, Richard, KASPARD, Jeanne
Institution: Holy Spirit University of Kaslik
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W7106799403