this chapter examines the multifaceted impacts of AI on the global economy and in business applications, identifying critical levers for enhancing AI’s potential: hardware advancements, algorithmic efficiency, data scalability, and systemic integration. By analyzing the evolution and adoption of AI technologies in various sectors, the chapter underscores the importance of a holistic approach to AI integration. It highlights the necessity for collaborative efforts among academia, industry, and policymakers to fully realize AI’s capabilities while addressing ethical, privacy, and workforce challenges. The paper contributes to the discourse on AI as a general-purpose technology, exploring its potential to drive innovation, economic growth, and positive societal transformation.