Analyzing the relationship among aging society, investment in artificial intelligence and economic growth

Abstract

© 2021, The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG. Artificial Intelligence (AI) is performing an increasingly significant role in everyday life as it has the potential to increase the efficiency of productivity and boost the economy. While the technology world is advancing, the mortality rate and the fertility rate of people are declining. These demographic trends have urged many countries to pay a concern to the apparent problems associated with the aging society like the shrinking proportion of the working-age population, which in turn can bring about the decline in productivity and the national economic slow-down. Hence, we aim to investigate the relationship among investment in AI, Aging society, and Economic growth in three advanced countries, namely China, Japan, and the U.S. using the Copula-based simultaneous equations model. The results obtained from the model can conform to our hypothesis only in the case of China and Japan. However, the result of the U.S., is deviated from the hypothesis but challenging.