Economic Policy for Artificial Intelligence

Ajay Agrawal, Joshua Gans and Avi Goldfarb

No 24690, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Recent progress in artificial intelligence (AI) – a general purpose technology affecting many industries - has been focused on advances in machine learning, which we recast as a quality-adjusted drop in the price of prediction. How will this sharp drop in price impact society? Policy will influence the impact on two key dimensions: diffusion and consequences. First, in addition to subsidies and IP policy that will influence the diffusion of AI in ways similar to their effect on other technologies, three policy categories - privacy, trade, and liability - may be uniquely salient in their influence on the diffusion patterns of AI. Second, labor and antitrust policies will influence the consequences of AI in terms of employment, inequality, and competition.

JEL-codes: L86 O3 (search for similar items in EconPapers)
Date: 2018-06
New Economics Papers: this item is included in nep-big, nep-cmp and nep-ino
Note: PR
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Citations: View citations in EconPapers (16)

Published as Economic Policy for Artificial Intelligence , Ajay Agrawal, Joshua Gans, Avi Goldfarb. in Innovation Policy and the Economy, Volume 19 , Lerner and Stern. 2019

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Related works:
Journal Article: Economic Policy for Artificial Intelligence (2019)
Chapter: Economic Policy for Artificial Intelligence (2018)
Working Paper: Economic Policy for Artificial Intelligence (2018)
Working Paper: Economic Policy for Artificial Intelligence (2018)
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