Circular Economy and Artificial Intelligence: Drivers of Sustainable Economic Development

Abstract

Circular Economy (CE) and Artificial Intelligence (AI) are two key concepts that can significantly contribute to sustainable development. The first is based on the goal of maximizing resource utilization and minimizing waste, creating conditions for sustainable and environmentally friendly economic development. On the other hand, AI aims to optimize various processes and improve efficiency in the application of CE, providing tools for innovation and enhancement of business processes. The focus of this research is the analysis of performance indicators for the application of Circular Economy (CE), Artificial Intelligence (AI), and Sustainable Development Goals (SDGs) in countries with different levels of economic development and within the context of global territorial coverage. Circular Economy is crucial for sustainable development through waste reduction and maximum resource utilization. Countries such as the Netherlands, Denmark, and Germany demonstrate high recycling rates and use of secondary raw materials, while Romania, Bosnia and Herzegovina, and Albania lag in these aspects. Artificial Intelligence plays an important role in economic growth and innovation. The United States, China, and Japan lead in investments, number of patents, and number of experts in this field, making them leaders in AI technologies. Less developed countries have limited capacities and need international support for the development of this field. Sustainable Development Goals represent a comprehensive approach to economic, social, and environmental progress. Countries with high SDG indices, such as the Netherlands, Denmark, and Germany, successfully implement sustainable development strategies. In contrast, the least developed countries face significant challenges in achieving these goals. This research shows that developed countries are successful in applying Circular Economy and Artificial Intelligence, while less developed countries lag behind and need additional support. Global cooperation and the exchange of knowledge and technologies are crucial for achieving sustainable development and technological advancement in all countries.