“AFI refers to the use of artificial intelligence (AI) and machine learning (ML) techniques in fiscal policy making and decision-making processes. It can be applied in a variety of areas such as tax collection, budget allocation, and expenditure optimization.
Some potential benefits of AFI include improved accuracy in forecasting and data analysis, increased efficiency in resource allocation, and enhanced transparency in decision-making processes. However, there are also concerns about the potential risks and limitations of AFI, such as the possibility of biases in data and algorithms, the need for extensive data privacy and security measures, and the potential for AFI to replace human expertise and judgment.
Overall, AFI has the potential to offer significant benefits in the field of fiscal policy, but it is important to carefully consider its potential risks and limitations and to ensure that it is implemented in an ethical and responsible manner.”