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The Economics of Artificial Intelligence

The Economics of Artificial Intelligence
Author: Ajay Agrawal
Publisher: University of Chicago Press
Total Pages: 172
Release: 2024-03-05
Genre: Business & Economics
ISBN: 0226833127

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A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.


Productivity Relationship Between Artificial Intelligence and Economic Growth

Productivity Relationship Between Artificial Intelligence and Economic Growth
Author: Johnny C. H. Lok
Publisher: Createspace Independent Publishing Platform
Total Pages: 90
Release: 2017-11-22
Genre:
ISBN: 9781979980425

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This book concerns to be given my opinions to explain how artificial intelligent technology will impact our life and will influence economic development in the future. In chapter one, I shall explain what the (AI) functions are benefited to human and I shall indicate whether how it can impact human job nature as well as I shall explain whether (AI) can influence to change to human job market to be better or worse in future global labor market. In chapter two, I shall indicate how (AI) will influence global economic technology productivity change as well as I shall indicate whether (AI) technology can impact global service management industry development. In chapter three, I shall indicate whether (AI) technology will influence digital industry economic change as well as I shall indicate whether (AI) technology can influence developing countries' economic change and health and manufacturing change, even global economic change in our future life. This book is suitable to any students who expect to make personal judgement and analysis to concern whether how (AI) technology will impact our life and it can influence global economic change in our future.


The Economics of Artificial Intelligence

The Economics of Artificial Intelligence
Author: Ajay Agrawal
Publisher: University of Chicago Press
Total Pages: 643
Release: 2019-06-07
Genre: Business & Economics
ISBN: 022661347X

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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 Columbia 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


Artificial Intelligence in Society

Artificial Intelligence in Society
Author: OECD
Publisher: OECD Publishing
Total Pages: 152
Release: 2019-06-11
Genre:
ISBN: 9264545190

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The artificial intelligence (AI) landscape has evolved significantly from 1950 when Alan Turing first posed the question of whether machines can think. Today, AI is transforming societies and economies. It promises to generate productivity gains, improve well-being and help address global challenges, such as climate change, resource scarcity and health crises.


Artificial Intelligence Brings Macro And Micro Economy Benefits

Artificial Intelligence Brings Macro And Micro Economy Benefits
Author: Johnny Ch Lok
Publisher:
Total Pages: 376
Release: 2019-12-19
Genre:
ISBN: 9781677655960

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How (AI) brings macro and micro economy benefits to impact our future social development ? Artificial Intelligence, as we see it, is a collection of multiple technologies that enable machines to sense, comprehend and act-and learn, either on their own or to augment human activities. Compelling data reveal a discouraging truth about growth today. It is one kind technological manufacturing industry and service industry and product sale business to bring our future economy growth. There has been a marked decline in the ability of traditional levers of production-capital investment and labor-to propel economic growth. The numbers tell only part of the story. Artificial intelligence (AI) is a new factor of production and has the potential to introduce new sources of growth, changing how work is done and reinforcing the role of people to drive growth in business. Accenture research on the impact of AI in 12 developed economies reveals that AI could double annual economic growth rates in 2035 by changing the nature of work and creating a new relationship between man and machine. The impact of AI technologies on business is projected to increase labor productivity by up to 40 percent and enable people to make more efficient use of their time. Concerning (AI) and economic growth relationship, I shall indicate these questions as below: 1.If A.I. increases automation in the production of goods and services, how will it impact economic growth?2. Can we reconcile the advent of A.I. with the observed constancy in growth rates andcapitalshareovermostofthe20th century? Should we expect such constancy to persist in the 21st century?3.Do these answers change when A.I. and automation apply to the production of new ideas?4.Can A.I. drive massive increases in growth rates, or even a singularity, as some observers predict? Under what conditions, and are these conditions plausible?In thinking about these questions, we develop two main themes. First, we model A.I. as the latest form in a process of automation that has been ongoing for at least 200 years. From the steam engine to electricity to computer chips, the automation of aspects of production has been a key feature of economic growth since the Industrial Revolution.


The Political Economy of Digital Automation

The Political Economy of Digital Automation
Author: Sreenath Majumder
Publisher: Routledge
Total Pages: 135
Release: 2020-08-31
Genre: Business & Economics
ISBN: 1000171507

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With digital automation becoming ubiquitous, the relationship between man and machine is being redefined. This book, through a focus on America, identifies the tension this relationship has produced, and how it has divided America socially, politically, and economically, ultimately breeding two fundamentally incompatible nations within one: the “forgotten America” and “elite America.” This book enables the reader to visualize the changes brought by automation on our producer and buyer identities, and suggests policy changes that global leaders could adopt to deal with the increasing discord. The book is heavily dependent on a few fundamental concepts of both economics and sociology, such as globalization, labor economics, and cultural homogenization. The book is ideally suited to students and academics researching political economics and sociology, with focuses on globalization, unemployment, and the social impacts of technological advances.


Can Artificial Intelligence Raise Productivities and Efficiences?

Can Artificial Intelligence Raise Productivities and Efficiences?
Author: Johnny Ch Lok
Publisher: Independently Published
Total Pages: 92
Release: 2019-03-13
Genre: Business & Economics
ISBN: 9781090391520

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⦁Can (AI) influence global economy growth?Technological progress is main driver of growth of GDP per capita, allowing output to increase faster than labor and capital . However, technology can increase productivity, but also decrease the number of labor hours needed to create a unit of output. So (AI) causes unequal to labor wage decreases, even reduces the number of labor to manufacture, e.g. artificial intelligence technology of automation car manufacturing industry; clothing manufacturing industry; plane manufacturing etc. high technology of artificial intelligence manufacturing method. But (AI) should be potential environment benefit, although it raises unemployment ratio. Moreover, it can rise production, due to many skilled craft were replaced by the combination of machines and lower-skilled labor. The result of (AI) technology introduction, it causes output per hour risen when inequality declined, driving up average living standards, but the labor of some high-skill workers was no longer as valuable in the market. Otherwise, if (AI) technology is continue developed to be success. Some routine intensive occupations will be loss, which focused on predictable, e.g. easily programmable tasks, such as switchboard operators, filing clerks, travel agents, and assembly line workers would be particularly replaced by new (AI) technology. However, at the same time, (AI) technology development will bring these benefits: improvement in education ( training (AI) technology scientists), due to (AI) manufacturing technology needs are raising to businesses and institutional changes, such as the reduction in unionization and raising in the minimum wage to the (AI) manufacturing technology skilled labor in factories.Because (AI) technology is not a single technology, but rather a collection of technologies that are applied to specific tasks, the effects of (AI) will be felt unevenly though the economy. It will bring some tasks will be most easily automated than others, and some jobs will be affected more than others, both negatively and positively. Finally, new jobs are likely to be directly created in areas, such as the development and supervision of (AI) as well as indirectly created in a range areas though out the economy as higher incomes lead to expanded demand.However, if (AI) technology could dominate global labor markets. If labor productivity increases, do not influence to wage increases, then the large economic gains brought about by (AI) technology could be increased wealth inequality, due to employers can reduce production cost, but workers ( labors) wages will not be increased, even will be decreased. Hence, it seems the (AI) technology will bring disadvantages to labor market to cause unemployment or reduce wages in possible, although it can reduce employer individual salary (wage) expenditure and it can raise productivity.⦁How can artificial intelligence impact global economy growth?Artificial intelligence (AI) technology is a branch of computer science that aims to create intelligent machines that work and react like humans. So, (AI) is a technology that appears to impact ( influence) human preference by learning, understanding complex contents, enhancing humans in executing both routine and non-routine tasks. In the future, (AI) technology that can be virtual personal assistant, as well as it may exist, such as robots with human-like processing capabilities.How can (AI) technology impact global economy growth over the next 10 years?


Artificial Intelligence How To Raise Economic Growth

Artificial Intelligence How To Raise Economic Growth
Author: Johnny Ch Lok
Publisher:
Total Pages: 376
Release: 2020-01-16
Genre:
ISBN: 9781661681951

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⦁Can (AI) influence global economy growth?Technological progress is main driver of growth of GDP per capita, allowing output to increase faster than labor and capital . However, technology can increase productivity, but also decrease the number of labor hours needed to create a unit of output. So (AI) causes unequal to labor wage decreases, even reduces the number of labor to manufacture, e.g. artificial intelligence technology of automation car manufacturing industry; clothing manufacturing industry; plane manufacturing etc. high technology of artificial intelligence manufacturing method. But (AI) should be potential environment benefit, although it raises unemployment ratio. Moreover, it can rise production, due to many skilled craft were replaced by the combination of machines and lower-skilled labor. The result of (AI) technology introduction, it causes output per hour risen when inequality declined, driving up average living standards, but the labor of some high-skill workers was no longer as valuable in the market. Otherwise, if (AI) technology is continue developed to be success. Some routine intensive occupations will be loss, which focused on predictable, e.g. easily programmable tasks, such as switchboard operators, filing clerks, travel agents, and assembly line workers would be particularly replaced by new (AI) technology. However, at the same time, (AI) technology development will bring these benefits: improvement in education ( training (AI) technology scientists), due to (AI) manufacturing technology needs are raising to businesses and institutional changes, such as the reduction in unionization and raising in the minimum wage to the (AI) manufacturing technology skilled labor in factories.Because (AI) technology is not a single technology, but rather a collection of technologies that are applied to specific tasks, the effects of (AI) will be felt unevenly though the economy. It will bring some tasks will be most easily automated than others, and some jobs will be affected more than others, both negatively and positively. Finally, new jobs are likely to be directly created in areas, such as the development and supervision of (AI) as well as indirectly created in a range areas though out the economy as higher incomes lead to expanded demand.However, if (AI) technology could dominate global labor markets. If labor productivity increases, do not influence into wage increases, then the large economic gains brought about by (AI) technology could be increased wealth inequality, due to employers can reduce production cost, but workers ( labors) wages will not be increased, even will be decreased. Hence, it seems the (AI) technology will bring disadvantages to labor market to cause unemployment or reduce wages in possible, although it can reduce employer individual salary (wage) expenditure and it can raise productivity.⦁How can artificial intelligence impact global economy growth?


Economics for the Common Good

Economics for the Common Good
Author: Jean Tirole
Publisher: Princeton University Press
Total Pages: 582
Release: 2019-05-14
Genre: Business & Economics
ISBN: 0691192251

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"When Jean Tirole won the 2014 Nobel Prize in Economics, he suddenly found himself being stopped in the street by complete strangers and asked to comment on issues of the day, no matter how distant from his own areas of research. His transformation from academic economist to public intellectual prompted him to reflect further on the role economists and their discipline play in society. The result is Economics for the Common Good, a passionate manifesto for a world in which economics, far from being a 'dismal science,' is a positive force for the common good. Economists are rewarded for writing technical papers in scholarly journals, not joining in public debates. But Tirole says we urgently need economists to engage with the many challenges facing society, helping to identify our key objectives and the tools needed to meet them. To show how economics can help us realize the common good, Tirole shares his insights on a broad array of questions affecting our everyday lives and the future of our society, including global warming, unemployment, the post-2008 global financial order, the euro crisis, the digital revolution, innovation, and the proper balance between the free market and regulation. Providing a rich account of how economics can benefit everyone, Economics for the Common Good sets a new agenda for the role of economics in society"--Provided by publisher.


The Theory of Capital

The Theory of Capital
Author: D C Hagued
Publisher: Springer
Total Pages: 419
Release: 1961-01-01
Genre: Business & Economics
ISBN: 1349084522

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