Applications of Artificial Intelligence in the Economy, Including Applications in Stock Trading, Market Analysis, and Risk Management

Abstract

In an increasingly automated world, Artificial Intelligence (AI) promises to revolutionize how people work, consume, and develop their societies. Science and technology advancement has led humans to seek solutions to problems; however, AI-based technology is not novel and has a wide range of economic applications. This paper examines AI applications in economics, including stock trading, market analysis, and risk assessment. A comprehensive taxonomy is proposed to investigate AI applications in various scopes of the proposed categories. Furthermore, we will discuss this area’s most significant AI-based techniques and evaluation criteria. As a final step, we will identify challenges, open issues, and future work suggestions.