An Application of AI Models in Macroeconomic Analysis and Forecasting
AI approaches, inflation, unemployment rates, financial transactions
The use of artificial intelligence (AI) models in macroeconomic analysis and forecasting is examined in this work. Traditional econometric models frequently fail to capture the complexities of economic dynamics as economies grow more complex. AI presents viable substitutes that can improve the precision and resilience of economic projections, especially machine learning and deep learning methods. This study examines several AI approaches, such as ensemble methods, neural networks, and supervised and unsupervised learning, and evaluates how well they predict important macroeconomic variables like GDP growth, inflation, and unemployment rates. We also go over how these models' predictive power is enhanced by integrating big data sources, such as sentiment analysis from social media and real-time financial transactions. Successful uses of AI in macroeconomic forecasting are illustrated by case studies, which emphasize.
"An Application of AI Models in Macroeconomic Analysis and Forecasting", IJSDR - International Journal of Scientific Development and Research (www.IJSDR.org), ISSN:2455-2631, Vol.9, Issue 12, page no.a462-a471, December-2024, Available :https://ijsdr.org/papers/IJSDR2412051.pdf
Volume 9
Issue 12,
December-2024
Pages : a462-a471
Paper Reg. ID: IJSDR_300072
Published Paper Id: IJSDR2412051
Downloads: 000347272
Research Area: Social Science All
Country: Raipur, Chhattisgarh, India
ISSN: 2455-2631 | IMPACT FACTOR: 9.15 Calculated By Google Scholar | ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 9.15 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publisher: IJSDR(IJ Publication) Janvi Wave
