Abstract: Identifying is the paper's main goal. This investigation uses a methodical approach to investigate the effects of artificial intelligence and machine learning on company processes. An industrial revolution propelled by AI and machine learning has resulted from the advent of Industry 4.0, which is characterized by the integration of cutting-edge technology and digitalization. To determine their effects on business, a literature analysis of AI and machine learning before and after the launch of Industry 4.0 in 1999 was conducted. Recent years have seen an increase in the availability of AI-powered goods and services and concerns regarding their socioeconomic effects and realness versus hype.

The broad application of AI and machine learning in several sectors, including finance, healthcare, and retail, however, demonstrates that they are of sectors, including finance, healthcare, and retail, however, demonstrates that they are a reality and not simply marketing hype. This essay discusses how these technologies affect business ventures and the global economy. This report intends to assist businesses and governments in comprehending the advantages and difficulties of implementing AI and machine learning by giving a broad overview of their impact. This open-access article is free to use, share, and reproduce in any format, as long as the author and source are acknowledged.

| DOI: 10.17148/IARJSET.2023.10640