A Visual Analysis of GenAI’s Impact on Economic Development from a Risk Perspective - Booster or Spoiler

Abstract

Cultivating new quality productive forces is the focus of the 20th National Congress of the Communist Party of China, representing the evolution direction of the advanced productive forces, and the qualitative state of the advanced productive forces that is born from the revolutionary breakthroughs in technology, the innovative allocation of production factors, and the in-depth transformation and upgrading of industries. In this direction, Generative Artificial Intelligence (GenAI) has undoubtedly achieved a subversive transformation of the world's science and technology. Many scholars have focused on the exploration of artificial intelligence (AI) in medical care, law, industrial development and even people's well-being. However, because of the difficulty of measurement, collection and analysis, economic development is often mentioned the least, but it has the closest relationship with human beings. Therefore, this paper compares the literature of AI with the development process of GenAI, and analyzes the selection and fitting of measurement indices such as economic development, AI coverage rate and business potential. The conclusion is that GenAI still has its disadvantages and defects, but it also has great overall benefits to China’s economy, and thus promoting the growth of China’s economy.