The impact of Artificial Intelligence on productivity, distribution and growth: Key mechanisms, initial evidence and policy challenges

Francesco Filippucci, Peter Gal, Cecilia Jona-Lasinio, Alvaro Leandro and Giuseppe Nicoletti

No 15, OECD Artificial Intelligence Papers from OECD Publishing

Abstract: This paper explores the economics of Artificial Intelligence (AI), focusing on its potential as a new General-Purpose Technology that can significantly influence economic productivity and societal wellbeing. It examines AI's unique capacity for autonomy and self-improvement, which could accelerate innovation and potentially revive sluggish productivity growth across various industries, while also acknowledging the uncertainties surrounding AI's long-term productivity impacts. The paper discusses the concentration of AI development in big tech firms, uneven adoption rates, and broader societal challenges such as inequality, discrimination, and security risks. It calls for a comprehensive policy approach to ensure AI's beneficial development and diffusion, including measures to promote competition, enhance accessibility, and address job displacement and inequality.

Keywords: Artificial intelligence; Competition; Productivity (search for similar items in EconPapers)
JEL-codes: O15 (search for similar items in EconPapers)
Date: 2024-04-16
New Economics Papers: this item is included in nep-ain, nep-eff and nep-ino
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Persistent link: https://EconPapers.repec.org/RePEc:oec:comaaa:15-en

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