The Good, the Bad, and the Invisible with Its Opportunity Costs: Introduction to the ‘J’ Special Issue on “the Impact of Artificial Intelligence on Law”

Ugo Pagallo and Massimo Durante
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Ugo Pagallo: Department of Law, University of Turin, 10124 Torino, Italy
Massimo Durante: Department of Law, University of Turin, 10124 Torino, Italy

J, 2022, vol. 5, issue 1, 1-11

Abstract: Scholars and institutions have been increasingly debating the moral and legal challenges of AI, together with the models of governance that should strike the balance between the opportunities and threats brought forth by AI, its ‘good’ and ‘bad’ facets. There are more than a hundred declarations on the ethics of AI and recent proposals for AI regulation, such as the European Commission’s AI Act, have further multiplied the debate. Still, a normative challenge of AI is mostly overlooked, and regards the underuse, rather than the misuse or overuse, of AI from a legal viewpoint. From health care to environmental protection, from agriculture to transportation, there are many instances of how the whole set of benefits and promises of AI can be missed or exploited far below its full potential, and for the wrong reasons: business disincentives and greed among data keepers, bureaucracy and professional reluctance, or public distrust in the era of no-vax conspiracies theories. The opportunity costs that follow this technological underuse is almost terra incognita due to the ‘invisibility’ of the phenomenon, which includes the ‘shadow prices’ of economy. This introduction provides metrics for such assessment and relates this work to the development of new standards for the field. We must quantify how much it costs not to use AI systems for the wrong reasons.

Keywords: artificial intelligence (AI); legal governance; opportunity costs; standards; underuse of AI (search for similar items in EconPapers)
JEL-codes: I1 I10 I12 I13 I14 I18 I19 (search for similar items in EconPapers)
Date: 2022
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