Artificial Intelligence to Transform Global Economics and International Law: A Study on Regulations, Risks, and Opportunities

Abstract

The recent advances in Artificial Intelligence have created a mammoth impact that has attempted to transform almost all industries, and this has also challenged some of the legal standards in terms of international law. This study reviews the history of AI, its impact on productivity, trade, the financial domain, education, and administration, and poses the pressing issues of accountability, intellectual property, data sovereignty, and ethical accountability. The findings focus on the opportunity of creativity and the risk of inequality, monopoly, and destabilisation of the system. It has been suggested that harmonised global systems, equal distribution of access, and elastic models of governance are to be used in order to counterbalance innovation, equity, and accountability.

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