Productivity Relationship Between Artificial Intelligence And Economic Growth
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Productivity Relationship Between Artificial Intelligence And Economic Growth
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Author : Johnny C. H. Lok
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2017-11-22
Productivity Relationship Between Artificial Intelligence And Economic Growth written by Johnny C. H. Lok and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-22 with categories.
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
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Author : Ajay Agrawal
language : en
Publisher: University of Chicago Press
Release Date : 2019-06-07
The Economics Of Artificial Intelligence written by Ajay Agrawal and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-07 with Business & Economics categories.
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
The Political Economy Of Digital Automation
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Author : Sreenath Majumder
language : en
Publisher: Routledge
Release Date : 2020-08-31
The Political Economy Of Digital Automation written by Sreenath Majumder and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-31 with Business & Economics categories.
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.
Artificial Intelligence Brings Macro And Micro Economy Benefits
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Author : Johnny Ch Lok
language : en
Publisher:
Release Date : 2019-12-19
Artificial Intelligence Brings Macro And Micro Economy Benefits written by Johnny Ch Lok and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-19 with categories.
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.
Artificial Intelligence How To Raise Economic Growth
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Author : Johnny Ch Lok
language : en
Publisher:
Release Date : 2020-01-16
Artificial Intelligence How To Raise Economic Growth written by Johnny Ch Lok and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-16 with categories.
⦁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?
Why Artificial Intelligence Raises Efficiencies To
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Author : Johnny Ch Lok
language : en
Publisher: Independently Published
Release Date : 2019-05-02
Why Artificial Intelligence Raises Efficiencies To written by Johnny Ch Lok and has been published by Independently Published this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-02 with categories.
What benefits will bring when (AI) robotic technology is applied to internet technology: Productivity growth can reduce production costs and increase returns on investments. Some of which provide greater income for business owners which some are given higher wages to labours. However, the productivity of individuals may be reflected in employment rates, wage rates, stability of employment, job satisfaction or employability across jobs or industries. The productivity of enterprises, in addition to output per worker may measure in terms of market share and export performance. The benefits to societies from higher individual and enterprise productivity may be evident in increased competitiveness and employment or in a shift of employment from low to higher productivity sector. So, employers can use this method to measure every employee's morality and job behaviour performance to judge whether their job ethic and job attitude whether which can adopt to continue to work in whose organizational environment. If the employer discovered the employee's morality and job behaviour performance and job attitude is not achieved to whose work performance standard, then who can decide to either reduce whose salary or dismiss him/her or not increasing whose salary for long term any decision. So, labour ethic issue is very important to influence economic growth to any countries. Whether labour ethic has close relationship to economic growth. I feel this issues concerns any stage of the labour life cycle and organization life cycles, it includes the link between the design of economic theory and labour individual morality and job behaviour and performance. In fact, we need to suppose all research questions and labour economy is as mapping to particular stages of an individual's life cycle to labour economy ought be related to the accumulation of human ( labour) capital, labour market entry and labour supply choices, behaviour within firms and household decision making. Prior years some researchers had been carrying on observing experiments to the women and men labour work and in whose nature environment for weeks, and then used various treatments, including manipulating the environment in such a way to increase and decrease rest periods. They got result long time working hours and not rest time, it will reduce labours( workers) of productivity. So, it implies the overall productivity and individual productivity will be reduced. Although, the employers have enough workers to work in the natural working environment at the same time, but due to who have no enough rest time to provide to them, then their workers' working performance and efficiency will be fallen. Nowadays, industrialized countries had began to consider how to plan similar welfare reforms, researching the economic reasons and consequences to labour economic issue, such as United States, the United King, Sweden and Germany, it seems economic growth and law ethic has close relationship. However, labour economy includes how to measure labour's emotion to raise productivity, as well as how technological change, education, employment and wages which can assist labour to raise productivity. Due to good labour emotion and labour ethic can raise productivity, then raising productivity can also raise economic growth finally. So, I believe which have close cause and effect relationship.
Artificial Intelligence In Economics And Finance Theories
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Author : Tankiso Moloi
language : en
Publisher: Springer Nature
Release Date : 2020-05-07
Artificial Intelligence In Economics And Finance Theories written by Tankiso Moloi and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-07 with Computers categories.
As Artificial Intelligence (AI) seizes all aspects of human life, there is a fundamental shift in the way in which humans are thinking of and doing things. Ordinarily, humans have relied on economics and finance theories to make sense of, and predict concepts such as comparative advantage, long run economic growth, lack or distortion of information and failures, role of labour as a factor of production and the decision making process for the purpose of allocating resources among other theories. Of interest though is that literature has not attempted to utilize these advances in technology in order to modernize economic and finance theories that are fundamental in the decision making process for the purpose of allocating scarce resources among other things. With the simulated intelligence in machines, which allows machines to act like humans and to some extent even anticipate events better than humans, thanks to their ability to handle massive data sets, this book will use artificial intelligence to explain what these economic and finance theories mean in the context of the agent wanting to make a decision. The main feature of finance and economic theories is that they try to eliminate the effects of uncertainties by attempting to bring the future to the present. The fundamentals of this statement is deeply rooted in risk and risk management. In behavioural sciences, economics as a discipline has always provided a well-established foundation for understanding uncertainties and what this means for decision making. Finance and economics have done this through different models which attempt to predict the future. On its part, risk management attempts to hedge or mitigate these uncertainties in order for “the planner” to reach the favourable outcome. This book focuses on how AI is to redefine certain important economic and financial theories that are specifically used for the purpose of eliminating uncertainties so as to allow agents to make informed decisions. In effect, certain aspects of finance and economic theories cannot be understood in their entirety without the incorporation of AI.
The Economics Of Artificial Intelligence
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Author : Ajay Agrawal
language : en
Publisher: University of Chicago Press
Release Date : 2024-03-05
The Economics Of Artificial Intelligence written by Ajay Agrawal and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-05 with Business & Economics categories.
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.
Technological Trends In The Ai Economy
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Author : Elena N. Makarenko
language : en
Publisher: Springer Nature
Release Date : 2023-03-03
Technological Trends In The Ai Economy written by Elena N. Makarenko and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-03 with Technology & Engineering categories.
This book is devoted to the study of artificial intelligence from a new perspective – not just a technology but a social institution with complex social connections and relationships. The book systematically highlights technological trends of the artificial intelligence economy and considers all the components of its cascade effect with an overview of international experience and substantiation of promising ways of adapting to the modern stage of technological transit of economic systems. The cascade effect is understood as a chain of interdependent events that are triggered as artificial intelligence takes root in society and the economy. Among the technological trends (current areas of the practical application of artificial intelligence), highlighted in the book, are “smart” homes, digital regions, the use of artificial intelligence to ensure cybersecurity, as well as the optimization of business processes based on artificial intelligence. The book interprets the economics of artificial intelligence as a result of the transition to a digital technological order. A review of modern experience and regulatory perspectives of the institutionalization of the artificial intelligence economy is carried out. The legal framework for combating cyber threats in the artificial intelligence economy has been determined. The promising frameworks for using artificial intelligence in various branches of industry are presented. The book provides practical examples, case studies and proposed frameworks for using AI in various sectors of the economy, which allows using the book as a practical guide to managing the artificial intelligence economy.
Artificial Intelligence Income Distribution And Economic Growth
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Author : Thomas Gries
language : en
Publisher:
Release Date : 2020
Artificial Intelligence Income Distribution And Economic Growth written by Thomas Gries and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
The economic impact of Articial Intelligence (AI) is studied using a (semi) endogenous growth model with two novel features. First, the task approach from labor economics is reformulated and integrated into a growth model. Second, the standard representative household assumption is rejected, so that aggregate demand restrictions can be introduced. With these novel features it is shown that (i) AI automation can decrease the share of labor income no matter the size of the elasticity of substitution between AI and labor, and (ii) when this elasticity is high, AI will unambiguously reduce aggregate demand and slow down GDP growth, even in the face of the positive technology shock that AI entails. If the elasticity of substitution is low, then GDP, productivity and wage growth may however still slow down, because the economy will then fail to benefit from the supply-side driven capacity expansion potential that AI can deliver. The model can thus explain why advanced countries tend to experience, despite much AI hype, the simultaneous existence of rather high employment with stagnating wages, productivity, and GDP.