Economics of Artificial Intelligence

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 TechnologyPhilippe Aghion, College de FranceAjay Agrawal, University of TorontoSusan Athey, Stanford UniversityJames Bessen, Boston University School of LawErik Brynjolfsson, MIT Sloan School of ManagementColin F. Camerer, California Institute of TechnologyJudith Chevalier, Yale School of ManagementIain M. Cockburn, Boston UniversityTyler Cowen, George Mason UniversityJason Furman, Harvard Kennedy SchoolPatrick Francois, University of British Columbia Alberto Galasso, University of TorontoJoshua Gans, University of TorontoAvi Goldfarb, University of TorontoAustan Goolsbee, University of Chicago Booth School of BusinessRebecca Henderson, Harvard Business SchoolGinger Zhe Jin, University of MarylandBenjamin F. Jones, Northwestern UniversityCharles I. Jones, Stanford UniversityDaniel Kahneman, Princeton UniversityAnton Korinek, Johns Hopkins UniversityMara Lederman, University of TorontoHong Luo, Harvard Business SchoolJohn McHale, National University of IrelandPaul R. Milgrom, Stanford UniversityMatthew Mitchell, University of TorontoAlexander Oettl, Georgia Institute of TechnologyAndrea Prat, Columbia Business SchoolManav Raj, New York UniversityPascual Restrepo, Boston UniversityDaniel Rock, MIT Sloan School of ManagementJeffrey D. Sachs, Columbia UniversityRobert Seamans, New York UniversityScott Stern, MIT Sloan School of ManagementBetsey Stevenson, University of MichiganJoseph E. Stiglitz. Columbia UniversityChad Syverson, University of Chicago Booth School of BusinessMatt Taddy, University of Chicago Booth School of BusinessSteven Tadelis, University of California, BerkeleyManuel Trajtenberg, Tel Aviv UniversityDaniel Trefler, University of TorontoCatherine Tucker, MIT Sloan School of ManagementHal Varian, University of California, Berkeley

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 TechnologyPhilippe Aghion, College de FranceAjay Agrawal, University of TorontoSusan Athey, Stanford UniversityJames Bessen, Boston University School of LawErik Brynjolfsson, MIT Sloan School of ManagementColin F. Camerer, California Institute of TechnologyJudith Chevalier, Yale School of ManagementIain M. Cockburn, Boston UniversityTyler Cowen, George Mason UniversityJason Furman, Harvard Kennedy SchoolPatrick Francois, University of British Columbia Alberto Galasso, University of TorontoJoshua Gans, University of TorontoAvi Goldfarb, University of TorontoAustan Goolsbee, University of Chicago Booth School of BusinessRebecca Henderson, Harvard Business SchoolGinger Zhe Jin, University of MarylandBenjamin F. Jones, Northwestern UniversityCharles I. Jones, Stanford UniversityDaniel Kahneman, Princeton UniversityAnton Korinek, Johns Hopkins UniversityMara Lederman, University of TorontoHong Luo, Harvard Business SchoolJohn McHale, National University of IrelandPaul R. Milgrom, Stanford UniversityMatthew Mitchell, University of TorontoAlexander Oettl, Georgia Institute of TechnologyAndrea Prat, Columbia Business SchoolManav Raj, New York UniversityPascual Restrepo, Boston UniversityDaniel Rock, MIT Sloan School of ManagementJeffrey D. Sachs, Columbia UniversityRobert Seamans, New York UniversityScott Stern, MIT Sloan School of ManagementBetsey Stevenson, University of MichiganJoseph E. Stiglitz. Columbia UniversityChad Syverson, University of Chicago Booth School of BusinessMatt Taddy, University of Chicago Booth School of BusinessSteven Tadelis, University of California, BerkeleyManuel Trajtenberg, Tel Aviv UniversityDaniel Trefler, University of TorontoCatherine Tucker, MIT Sloan School of ManagementHal Varian, University of California, Berkeley