Recent advances in artificial intelligence (AI) highlight its potential to affect productivity, growth, inequality, market power, innovation, and employment. In September 2017, the National Bureau of Economic Research held its first conference on the Economics of AI in Toronto. The purpose of the co
The Economics of Artificial Intelligence: An Agenda
β Scribed by Ajay Agrawal; Joshua Gans; Avi Goldfarb
- Publisher
- University of Chicago Press
- Year
- 2019
- Tongue
- English
- Leaves
- 643
- Category
- Library
No coin nor oath required. For personal study only.
β¦ Synopsis
Advances in artificial intelligence (AI) highlight the potential of this technology to affect productivity, growth, inequality, market power, innovation, and employment. This volume seeks to set the agenda for economic research on the impact of AI. It covers four broad themes: AI as a general purpose technology; the relationships between AI, growth, jobs, and inequality; regulatory responses to changes brought on by AI; and the effects of AI on the way economic research is conducted. It explores the economic influence of machine learning, the branch of computational statistics that has driven much of the recent excitement around AI, as well as the economic impact of robotics and automation and the potential economic consequences of a still-hypothetical artificial general intelligence. The volume provides frameworks for understanding the economic impact of AI and identifies a number of open research questions.
Contributors:
Daron Acemoglu, Massachusetts Institute of Technology
Philippe Aghion, Collège de France
Ajay Agrawal, University of Toronto
Susan Athey, Stanford University
James Bessen, Boston University School of Law
Erik Brynjolfsson, MIT Sloan School of Management
Colin F. Camerer, California Institute of Technology
Judith Chevalier, Yale School of Management
Iain M. Cockburn, Boston University
Tyler Cowen, George Mason University
Jason Furman, Harvard Kennedy School
Patrick Francois, University of British ColumbiaΒ
Alberto Galasso, University of Toronto
Joshua Gans, University of Toronto
Avi Goldfarb, University of Toronto
Austan Goolsbee, University of Chicago Booth School of Business
Rebecca Henderson, Harvard Business School
Ginger Zhe Jin, University of Maryland
Benjamin F. Jones, Northwestern University
Charles I. Jones, Stanford University
Daniel Kahneman, Princeton University
Anton Korinek, Johns Hopkins University
Mara Lederman, University of Toronto
Hong Luo, Harvard Business School
John McHale, National University of Ireland
Paul R. Milgrom, Stanford University
Matthew Mitchell, University of Toronto
Alexander Oettl, Georgia Institute of Technology
Andrea Prat, Columbia Business School
Manav Raj, New York University
Pascual Restrepo, Boston University
Daniel Rock, MIT Sloan School of Management
Jeffrey D. Sachs, Columbia University
Robert Seamans, New York University
Scott Stern, MIT Sloan School of Management
Betsey Stevenson, University of Michigan
Joseph E. Stiglitz. Columbia University
Chad Syverson, University of Chicago Booth School of Business
Matt Taddy, University of Chicago Booth School of Business
Steven Tadelis, University of California, Berkeley
Manuel Trajtenberg, Tel Aviv University
Daniel Trefler, University of Toronto
Catherine Tucker, MIT Sloan School of Management
Hal Varian, University of California, Berkeley
β¦ Table of Contents
Contents
Acknowledgments
Introduction / Ajay Agrawal, Joshua Gans, and Avi Goldfarb
I. AI as a GPT
1. Artificial Intelligence and the Modern Productivity Paradox: A Clash of Expectations and Statistics / Erik Brynjolfsson, Daniel Rock, and Chad Syverson, Comment: Rebecca Henderson
2. The Technological Elements of Artificial Intelligence / Matt Taddy
3. Prediction, Judgment, and Complexity: A Theory of Decision-Making and Artificial Intelligence / Ajay Agrawal, Joshua Gans, and Avi Goldfarb, Comment: Andrea Prat
4. The Impact of Artificial Intelligence on Innovation: An Exploratory Analysis / Iain M. Cockburn, Rebecca Henderson, and Scott Stern, Comment: Matthew Mitchell
5. Finding Needles in Haystacks: Artificial Intelligence and Recombinant Growth / Ajay Agrawal, John McHale, and Alexander Oettl
6. Artificial Intelligence as the Next GPT: A Political-Economy Perspective / Manuel Trajtenberg
II. Growth, Jobs, and Inequality
7. Artificial Intelligence, Income, Employment, and Meaning / Betsey Stevenson
8. Artificial Intelligence, Automation, and Work / Daron Acemoglu and Pascual Restrepo
9. Artificial Intelligence and Economic Growth / Philippe Aghion, Benjamin F. Jones, and Charles I. Jones, Comment: Patrick Francois
10. Artificial Intelligence and Jobs: The Role of Demand / James Bessen
11. Public Policy in an AI Economy / Austan Goolsbee
12. Should We Be Reassured If Automation in the Future Looks Like Automation in the Past? / Jason Furman
13. R&D, Structural Transformation, and the Distribution of Income / Jeffrey D. Sachs
14. Artificial Intelligence and Its Implications for Income Distribution and Unemployment / Anton Korinek and Joseph E. Stiglitz
15. Neglected Open Questions in the Economics of Artificial Intelligence / Tyler Cowen
III. Machine Learning and Regulation
16. Artificial Intelligence, Economics, and Industrial Organization / Hal Varian, Comment: Judith Chevalier
17. Privacy, Algorithms, and Artifi cial Intelligence / Catherine Tucker
18. Artificial Intelligence and Consumer Privacy / Ginger Zhe Jin
19. Artificial Intelligence and International Trade / Avi Goldfarb and Daniel Trefler
20. Punishing Robots: Issues in the Economics of Tort Liability and Innovation in Artificial Intelligence / Alberto Galasso and Hong Luo
IV. Machine Learning and Economics
21. The Impact of Machine Learning on Economics / Susan Athey, Comment: Mara Lederman
22. Artificial Intelligence, Labor, Productivity, and the Need for Firm-Level Data / Manav Raj and Robert Seamans
23. How Artificial Intelligence and Machine Learning Can Impact Market Design / Paul R. Milgrom and Steven Tadelis
24. Artificial Intelligence and Behavioral Economics / Colin F. Camerer, Comment: Daniel Kahneman
Contributors
Author Index
Subject Index
π SIMILAR VOLUMES
<div>Advances in artificial intelligence (AI) highlight the potential of this technology to affect productivity, growth, inequality, market power, innovation, and employment. This volume seeks to set the agenda for economic research on the impact of AI. It covers four broad themes: AI as a general p
This volume seeks to leverage academic interdisciplinarity to develop insight into how Artificial intelligence (AI), the latest GPT to emerge, may influence or radically change socio-political norms, practices, and institutions. AI may best be understood as a predictive technology. βPrediction is th
<b><i>Economic Renaissance in the Age of Artificial Intelligence</i> explores a wide range of new approaches to the economic, social, legal, scientific, technological, financial, architectural, environmental, and humanistic challenges that humanity will face due to increased automation.</b> <p>Marsh
"What does AI mean for your business? Read this book to find out." -- Hal Varian, Chief Economist, Google. Artificial intelligence does the seemingly impossible, magically bringing machines to life-driving cars, trading stocks, and teaching children. But facing the sea change that AI will bring can
<p><b>"What does AI mean for your business? Read this book to find out." -- Hal Varian, Chief Economist, Google</b></p><p>Artificial intelligence does the seemingly impossible, magically bringing machines to life--driving cars, trading stocks, and teaching children. But facing the sea change that AI