Overview

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

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9780226613338

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Reviews

"""The book is a timely contribution to our understanding of how artificial intelligence (AI) as a technology may evolve and how it may exert impacts on the economy and the ways we live, work and think. It convenes 30 leading economists and asks them to foresee how AI will change specific aspects of the economy in which they have expertise, thus scoping out a research agenda for the next 20 years into the economics of AI. This is as if these economists were back to1995 when the internet was about to begin transforming industries and gathered to debate about what would have happened to economic research into that revolution. This approach of amassing forward-looking perspectives of leading economists is unique amongst books on AI and the economy and is therefore highly valuable. Businesses, public policymakers and researchers can all find useful insights from this book.""-- ""Economic Record"" ""Likely to remain the leading reference in this field for years to come... The book rightly calls itself 'an agenda' as the rapid increase in, and development of, AI applications will require constant reassessment of the implications, costs and benefits. The book does set an agenda and across a large range of issues.""-- ""Prometheus"""

Likely to remain the leading reference in this field for years to come... The book rightly calls itself 'an agenda' as the rapid increase in, and development of, AI applications will require constant reassessment of the implications, costs and benefits. The book does set an agenda and across a large range of issues. -- Prometheus

Author Information

Ajay Agrawal is the Peter Munk Professor of Entrepreneurship at the Rotman School of Management, University of Toronto, and a research associate of the NBER. Joshua Gans is professor of strategic management and holder of the Jeffrey S. Skoll Chair of Technical Innovation and Entrepreneurship at the Rotman School of Management, University of Toronto (with a cross appointment in the Department of Economics), and a research associate of the NBER. Avi Goldfarb holds the Rotman Chair in Artificial Intelligence and Healthcare and is professor of marketing at the Rotman School of Management, University of Toronto, and a research associate of the NBER.

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