Economic Policy for Artificial Intelligence

Agrawal, Ajay; Gans, Joshua S.; Goldfarb, Avi

doi:10.1086/699935

Cited by 153 publications

(80 citation statements)

References 32 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…These include inventions and discoveries such as the domestication of fire, the wheel, agriculture, cities, the printing press, the microscope, telescopes, the steam engine, the germ theory of disease, electricity, the combustible engine, nuclear science and the personal computer. More recently, a new technology has arrived that has been described as a new general-purpose technology similar to electricity in impact 2 : Artificial Intelligence (AI) (Brynjolfsson, Rock, and Syverson 2017;Trajtenberg 2018;Agrawal, Gans, and Goldfarb 2019).…”

Section: Introductionmentioning

confidence: 99%

“…As with earlier disruptive general-purpose technologies, AI has generated both hopes and fears. Economists for instance have been concerned about the impacts of AI on labor markets, distribution, allocative efficiency, competition and collusive behavior, amongst others (Aghion, Jones, and Jones 2017;Prettner and Strulik 2017;Berg, Buffie, and Zanna 2018;Bloom, McKenna, and Prettner 2018;Agrawal, Gans, and Goldfarb 2019;Furman and Seamans 2019;Schiller 2019;Acemoglu and Restrepo 2020).…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Artificial intelligence: neither Utopian nor apocalyptic impacts soon

Naudé

2020

Economics of Innovation and New Technology

View full text Add to dashboard Cite

After a number of AI-winters, AI is back with a boom. There are concerns that it will disrupt society. The immediate concern is whether labor can win a 'race against the robots' and the longer-term concern is whether an artificial general intelligence (super-intelligence) can be controlled. This paper describes the nature and context of these concerns, reviews the current state of the empirical and theoretical literature in economics on the impact of AI on jobs and inequality, and discusses the challenge of AI arms races. It is concluded that despite the media hype neither massive jobs losses nor a 'Singularity' is imminent. In part, this is because current AI, based on deep learning, is expensive and difficult for most businesses to adopt, not only displaces but in fact also create jobs, and may not be the route to a super-intelligence. Thus AI is unlikely to have either Utopian or apocalyptic impacts soon. Considering Amara's Law, one should however be wary not to underestimate the long-run impacts of AI.

show abstract

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Artificial intelligence: neither Utopian nor apocalyptic impacts soon

Naudé

2020

Economics of Innovation and New Technology

View full text Add to dashboard Cite

show abstract

“…The implications of AI in terms of labour market outcomes has largely dominated the policy discussion in recent years, with economists highlighting both its job destruction and job creation potentials. AI certainly presents challenges in terms of wage inequality and unemployment, and policymakers will have a crucial role in determining the diffusion patterns and the impact of this technological revolution, as discussed by Agrawal et al (2019). However, the economic effects of the recent technological advances go beyond their impact on the labour market.…”

Section: Discussionmentioning

confidence: 99%

The Economics of Artificial Intelligence: A Survey

2019

View full text Add to dashboard Cite

The current advances in Artificial Intelligence are likely to have profound economic implications and bring about new trade-offs, thereby posing new challenges from a policymaking point of view. What is the socioeconomic impact of these new technologies on growth, employment and inequality? How markets and competition will be affected by AI-powered agents? What are the implications in terms of consumers' privacy? Will algorithms reduce consumers' biases or will they rather originate new ones? This work presents a first attempt to provide a comprehensive survey of the growing economic literature on Artificial Intelligence and its economic impact on markets and society, focusing on those issues where AI is likely to pose the most imminent challenges for policymakers.

show abstract

“…The second way to communicate with an AI chatbot is to know what a user is looking for and to deliver real-time answers based on progressive conversations or enhanced learning [2]. Although due to its complexity, this mechanism is still emerging, some apps such as Amazon's Alexa, Google Assistant, and Facebook AI-Chatbot are on the road to dynamic responses based on human behavioral and preferential traits [12] [26]. Self-learning is a technique to understand the human mind and obtain enough knowledge to generate persuasive responses [27][28].…”

Section: Related Workmentioning

confidence: 99%

Developing an Intelligent Framework for Improving the Quality of Service in the Government Organizations in the Kingdom of Saudi Arabia

Algosaibi¹,

Sait²,

Fahad³

et al. 2020

IJACSA

View full text Add to dashboard Cite

The Kingdom of Saudi Arabia is enhancing the services and applications in government organizations through the number of systems that generate a massive amount of data through Big Data technology. Recently, the Global Artificial Intelligent Summit 2020, Saudi Data and Artificial Intelligence Authority (SDAIA), NEOM have launched an Artificial Intelligence (AI) strategy that aligns with the Kingdom Vision 2030. AI opens a wide door for opportunities and new strategies that will narrow the gap in the skillset of individuals and promote research and innovation in the IT industry.Organizations lack advanced techniques to evaluate the performance of individuals and departments that supports improving the quality of service. The introduction of AI-based applications in the government and private sectors will facilitate decision-makers in tracking and optimizing the efficiency of departments and individuals. This research aims to develop an intelligent framework for government organizations to improve the quality of services rendered to customers and businesses. In addition, it highlights the importance of AI policies in archiving metadata. This paper presents a framework for an organization that contains Chatbot, Sentiment Analysis, and Key Performance Indicators to improve the services. A synthetic dataset is employed as a testbed to evaluate the performance of the framework. The outcome of this study shows that the proposed framework able to improve the performance of organizations. Using this proposed framework, organizations can build a mechanism for their workforce to retrieve meaningful information. Moreover, it provides significant features include efficient data extraction, data management, and AI-based security for effective document management.

show abstract

Economic Policy for Artificial Intelligence

Cited by 153 publications

References 32 publications

Artificial intelligence: neither Utopian nor apocalyptic impacts soon

Artificial intelligence: neither Utopian nor apocalyptic impacts soon

The Economics of Artificial Intelligence: A Survey

Developing an Intelligent Framework for Improving the Quality of Service in the Government Organizations in the Kingdom of Saudi Arabia

Contact Info

Product

Resources

About