Emulator] HAX is not working and emulator runs in emulation mode

The error it shows is:

emulator: Failed to open the HAX device! HAX is not working and emulator runs in emulation mode emulator: Open HAX device failed

The solution is to install the Intel Hardware Accelerated Execution Manager (HAXM) from Android SDK Manager. Go to folder [Android SDK Root]\extras\intel\Hardware_Accelerated_Execution_Manager then run IntelHaxm.exe and install.