BIG DATA AND AI: THE FOUNDATION OF THE DIGITAL ECONOMY

Summary

The article “Big Data and AI: The Foundation of the Digital Economy” analyzes the role of Big Data and artificial intelligence in shaping modern economic systems. It examines their theoretical foundations and practical applications as key drivers of digital transformation across industries. The rapid growth of data generated through digital platforms, mobile devices, and the internet has led to the emergence of Big Data, characterized by volume, velocity, variety, veracity, and value. Artificial Intelligence complements this by enabling the analysis of large datasets and extraction of meaningful insights. Their integration has become essential for maintaining competitiveness in the digital economy. The study identifies key challenges, including data quality, privacy, security, and ethical issues such as algorithmic bias and lack of transparency. It also highlights technical and organizational barriers to implementation, particularly for small and medium-sized enterprises. The article explores applications of Big Data and AI in sectors such as finance, healthcare, retail, and manufacturing, where they support data-driven decision-making, automation, and improved efficiency. Emerging trends include explainable AI, edge computing, and integration with the Internet of Things. The study concludes that Big Data and AI are fundamental to the digital economy, offering significant opportunities for innovation and growth, while requiring responsible governance, ethical standards, and continued research.