ECONOMIC TRANSFORMATION OF DATA ANALYTICS THROUGH AI: EMERGING OPPORTUNITIES AND CHALLENGES IN THE WORKFORCE

Abstract

The integration of Artificial Intelligence (AI) in data analytics is revolutionizing various industries, driving significant economic transformation, and reshaping the workforce. This study explores the multifaceted impact of AI-driven data analytics, highlighting both the promising opportunities and formidable challenges it presents. Key findings demonstrate that AI significantly enhances data processing capabilities, leading to improved decision-making and operational efficiencies. Furthermore, the emergence of new job roles such as data scientists, AI specialists, and machine learning engineers underscores the demand for specialized skills. However, the rapid adoption of AI also exposes considerable skill gaps in the workforce and raises ethical concerns, particularly regarding data privacy, security, and algorithmic bias. Addressing these challenges requires strategic workforce training, robust governance frameworks for ethical AI practices, and effective change management strategies to overcome resistance to change. By comprehensively addressing these issues, businesses and policymakers can harness the full potential of AI in data analytics, fostering innovation, economic growth, and a smooth transition to an AI-driven economy.