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The impact of artificial intelligence and machine learning on the global economy and its implications for the hospitality sector in India

Sudhanshu Bhushan (Department of Management, Vedatya Institute, Gurgaon, India)

Worldwide Hospitality and Tourism Themes

ISSN: 1755-4217

Article publication date: 7 June 2021

Issue publication date: 6 July 2021

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Abstract

Purpose

The purpose of this paper is to explore and evaluate the existing and future impact of artificial intelligence (AI) and machine learning on the global economy. It includes viewing the inclusion of AI in different sectors, its impact on industries, the trends of the forerunning companies that are capitalizing on AI and the idea of crystalizing exponential growth while maintaining a balance between the understanding of humans and the subsequent possibilities of AI.

Design/methodology/approach

This paper is based on secondary research, reviewing literature based on different industries and perspectives.

Findings

The global potential of AI is exponential; the development of AI should be effective. Globally, we see contrasting views, defining the consequences of AI. Hence, the balance between humans and AI, protocols and a global regulatory system needs to be established to prevent catastrophic results soon.

Practical implications

The benefits of AI are enormous. The rising incorporation of AI must take into consideration the basic safety fundamentals for a better future.

Social implications

This paper will enable readers to understand the importance of AI in the global economy, its current involvement in major industries and the subsequent need for balance in technology.

Originality/value

This conceptual review is by its nature and original contribution and, specifically, an interpretation for India.

Keywords

Citation

Bhushan, S. (2021), "The impact of artificial intelligence and machine learning on the global economy and its implications for the hospitality sector in India", Worldwide Hospitality and Tourism Themes, Vol. 13 No. 2, pp. 252-259. https://doi.org/10.1108/WHATT-09-2020-0116

Publisher

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Emerald Publishing Limited

Copyright © 2021, Emerald Publishing Limited

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