Economics of Artificial Intelligence: An Agenda

This volume explores the economic impact of AI, covering 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 highlights the potential of AI to affect productivity, growth, inequality, market power, innovation, and employment.

Format: Hardback
Length: 648 pages
Publication date: 22 May 2019
Publisher: The University of Chicago Press

The potential impact of artificial intelligence (AI) on a wide range of economic factors is being increasingly recognized. This technology has the potential to influence productivity, growth, inequality, market power, innovation, and employment in significant ways. In response, this volume aims to establish a research agenda focused on understanding the economic implications of AI.

The book explores four broad themes:

AI as a General Purpose Technology: This section examines the potential of AI to transform various industries and sectors, including manufacturing, healthcare, finance, and transportation. It explores how AI can automate tasks, improve efficiency, and create new opportunities for economic growth.

The Relationships Between AI, Growth, Jobs, and Inequality: AI has the potential to both increase productivity and create new job opportunities. However, it also raises concerns about the distribution of benefits and the potential for job displacement. This section examines the economic impact of AI on inequality, including the potential for increased income and wealth inequality, as well as the impact on marginalized communities.

Regulatory Responses to Changes Brought by AI: As AI continues to evolve and become more prevalent, it is important to consider the regulatory framework that will govern its development and deployment. This section explores the potential risks and benefits of different regulatory approaches, including privacy protection, intellectual property rights, and labor standards.

The Effects of AI on the Way Economic Research is Conducted: AI has the potential to revolutionize the way economic research is conducted by providing new data sources, analytical tools, and methodologies. This section examines the impact of AI on economic research, including the potential for new insights, the challenges of interpreting AI-generated data, and the need for interdisciplinary collaboration.

The volume also includes contributions from leading economists and researchers in the field of AI, providing insights into the current state of research and identifying a number of open research questions.

In conclusion, the potential impact of AI on the economy is vast and complex. This volume seeks to provide a comprehensive understanding of the economic implications of AI and to set the agenda for future research in this area. By exploring the relationships between AI, growth, jobs, inequality, and other economic factors, we can better understand the potential benefits and challenges of this technology and develop policies that promote sustainable and inclusive economic growth.

Weight: 1038g
Dimension: 235 x 160 x 40 (mm)
ISBN-13: 9780226613338