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The Economic Footprint of AI: A Systematic Review of Business and Development Literature

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  • Munshi Naser Ibne Afzal
  • Tahir Masood Qureshi

Abstract

Purpose: This study advances AI research by mapping its economic footprint, offering practical insights for businesses, and proposing ethical policy solutions. It aligns with Discover Artificial Intelligence’s mission to foster responsible AI innovation for societal benefit. Design/Methodology/Approach: This systematic literature review (SLR), adhering to PRISMA guidelines, synthesizes 85 peer-reviewed studies from 2015 to 2024, sourced from Scopus, Web of Science, and Google Scholar, to explore AI’s applications, impacts, and challenges in business, economics, finance, and accounting. Findings: Research gaps include limited studies on small and medium enterprises (SMEs) and robust AI governance frameworks. Findings from this research highlight AI’s strengths in process automation, predictive analytics, and customer engagement, alongside challenges like ethical biases, skill shortages, and uneven adoption. Practical Implications: Artificial Intelligence (AI), powered by big data, is reshaping business and economic landscapes through advanced analytics, automation, and innovation. Originality value: Artificial Intelligence, Business Analytics, Big Data, Economics, Ethical AI, Systematic Review, Economic Development

Suggested Citation

  • Munshi Naser Ibne Afzal & Tahir Masood Qureshi, 2025. "The Economic Footprint of AI: A Systematic Review of Business and Development Literature," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 92-107.
    • Handle: RePEc:ers:ijebaa:v:xiii:y:2025:i:2:p:92-107
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    References listed on IDEAS

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    5. Baesens, Bart & Verstraeten, Geert & Van den Poel, Dirk & Egmont-Petersen, Michael & Van Kenhove, Patrick & Vanthienen, Jan, 2004. "Bayesian network classifiers for identifying the slope of the customer lifecycle of long-life customers," European Journal of Operational Research, Elsevier, vol. 156(2), pages 508-523, July.
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    Keywords

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    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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