The use of Artificial Intelligence and the Internet of Things in forecasting the market and economy

Economic Annals-XXI: Volume 205, Issue (9-10), Pages: 44-49

Citation information:
Putra, W., Priowirjanto, E. S., Ramli, A., Dwiyanasari, D., & Herlina, D. (2023). The use of Artificial Intelligence and the Internet of Things in forecasting the market and economy. Economic Annals-XXI, 205(9-10), 44-49. doi: https://doi.org/10.21003/ea.V205-05

Windhu Putra
PhD (Economics),
Researcher and Lecturer,
Universitas Tanjungpura
Jl. Prof. Dr. H Jl. Profesor Dokter H. Hadari Nawawi,
Bansir Laut, Kec. Pontianak Tenggara, Kota Pontianak, Kalimantan Barat, 78124, Indonesia
windhu.putra@ekonomi.untan.ac.id
ORCID ID: https://orcid.org/0009-0006-6697-7393

Enni Soerjati Priowirjanto
PhD (Economic Law),
Researcher and Lecturer,
Faculty of Law,
Universitas Padjadjaran
Jl. Raya Bandung Sumedang KM 21 Jatinangor, Sumedang, Jawa Barat, 45363, Indonesia
nsoer59@gmail.com
ORCID ID: https://orcid.org/0000-0002-6437-9326

Asia Ramli
PhD (Art Education),
Researcher and Lecturer,
Faculty of Art and Design,
Universitas Negeri Makassar Malengkeri
Makassar, 90221, Indonesia
asiaramli@unm.ac.id
ORCID ID: https://orcid.org/0000-0001-5446-0094

Desty Dwiyanasari
MA (Information Systems),
Researcher and Lecturer,
Universitas Diponegoro
Villa Krista Blok L, No. 23, Gedawang Banyumanik, Semarang, 50266, Indonesia
destyduaide@gmail.com
ORCID ID: https://orcid.org/0009-0002-0225-2175

Deswita Herlina
MA (Economics),
Researcher and Lecturer,
Universitas Sultan Ageng Tirtayasa
Jl. Raya Palka No.Km.3, Sindangsari, Kec. Pabuaran, Kota Serang, Banten, 42163, Indonesia
deswita@untirta.ac.id
ORCID ID: https://orcid.org/0000-0002-1246-4967

The use of Artificial Intelligence and the Internet of Things in forecasting the market and economy

Abstract. The purpose of this research was to investigate artificial intelligence (AI) and its applications in predicting financial markets. The acceptance of systems and the presence of AI in financial markets and in a way the application of AI in financial markets has grown significantly and this work is possible with the abundance of available data and the affordability of computing capacity. In fact, with the development of digital technology and the increasing growth of AI technology, the use of AI in financial markets has also increased, and the role of companies and their economic structures are changing rapidly. The present research is a survey in terms of data collection. The statistical community is the research of financial companies based on the web, the number of 225 people were selected using the Cochran formula and in the available form. The validity of the factors research was confirmed by the experts and Cronbach’s alpha was used to confirm the reliability of the research.

The research findings showed that AI and the Internet of Things (IoT) have a positive and meaningful effect in creating customer and user knowledges. Also, the creation of knowledge from the foreign market, has a positive and meaningful effect on logical marketing decision-making, economy and market prediction.

Keywords: Artificial Intelligence; AI; Internet of Things; IoT; Marketing; Economy; Customer; User Knowledge

JEL Classifications: Е24; Е41; Е64; I18; J28; J31

Acknowledgements and Funding: The authors received no direct funding for this research.

Contribution: The authors contributed equally to this work.

Data Availability Statement: The dataset is available from the author upon request.

DOI: https://doi.org/10.21003/ea.V205-05

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Received 2.03.2023
Received in revised form 12.04.2023
Accepted 17.04.2023
Available online 27.11.2023