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Artificial intelligence (AI) is revolutionizing various aspects of human existence, impacting industries, businesses, and governments worldwide. It enhances efficiency, productivity, and economic growth while also raising concerns about its effects. AI's role in Industry 4.0, alongside IoT, 5G, and other technologies, is transforming manufacturing and trade. It is projected to contribute significantly to global GDP by 2030, potentially adding trillions of dollars to the economy. Various countries are formulating AI strategies and regulations to harness its potential while addressing ethical and legal challenges. The adoption of AI signifies a digital revolution with profound implications for economies and societies worldwide.