Claim Missing Document
Check
Articles

Found 1 Documents
Search
Journal : Indonesian Journal of Electrical Engineering and Computer Science

Deep learning for economic transformation: a parametric review Tariq, Usman; Ahmed, Irfan; Khan, Muhammad Attique; Bashir, Ali Kashif
Indonesian Journal of Electrical Engineering and Computer Science Vol 35, No 1: July 2024
Publisher : Institute of Advanced Engineering and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.11591/ijeecs.v35.i1.pp520-541

Abstract

Deep learning (DL) is increasingly recognized for its effectiveness in analyzing and forecasting complex economic systems, particularly in the context of Pakistan's evolving economy. This paper investigates DL's transformative role in managing and interpreting increasing volumes of intricate economic data, leading to more nuanced insights. DL models show a marked improvement in predictive accuracy and depth over traditional methods across various economic domains and policymaking scenarios. Applications include demand forecasting, risk evaluation, market trend analysis, and resource allocation optimization. These processes utilize extensive datasets and advanced algorithms to identify patterns that traditional methods cannot detect. Nonetheless, DL's broader application in economic research faces challenges like limited data availability, complexity of economic interactions, interpretability of model outputs, and significant computational power requirements. The paper outlines strategies to overcome these barriers, such as enhancing model interpretability, employing federated learning for better data privacy, and integrating behavioral and social economic theories. It concludes by stressing the importance of targeted research and ethical considerations in maximizing DL's impact on economic insights and innovation, particularly in Pakistan and globally.