Harnessing the potential of AI and data analytics for infonomics in developing countries: an architectural model and framework

What is it about?

Infonomics is the application of economic principles to manage and utilize information as a valuable asset. In today's data-driven world, effectively utilising information assets is essential for economic development. However, developing countries face a number of challenges in adopting infonomics, including constrained data infrastructure, data privacy concerns, skill deficits, and technology costs. This study proposes an architectural model and framework for optimizing the utilization of AI, data analytics, and information assets for infonomics to foster economic development in developing countries. The study employs a multidisciplinary approach to establish a solid practical and theoretical foundation of the proposed solutions. The proposed architectural model and framework affirm the transformative potential of infonomics as a catalyst for economic development. Additionally, it provides a tangible roadmap for developing countries to strategically navigate the information landscape, unlocking the latent value of information and propelling them toward sustainable development. This study represents a pivotal stepping stone in harnessing the full potential of AI, data analytics, and information assets as drivers of innovation, competitive advantage, and economic prosperity in developing nations.

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