Realisable Benefits, Perceived Benefits and Adverse Consequences

Imad A. Moosa ()

Chapter 5 in The Economics of Artificial Intelligence, 2025, pp 102-138 from Edward Elgar Publishing

Abstract: AI has emerged as a transformative technology with the potential to revolutionise industries, boost efficiency, and drive innovation. However, the adoption of AI comes with costs and benefits as well as unintended, but adverse, consequences. While some of the benefits are realisable, others are only perceived. The costs and benefits of AI are intertwined and multifaceted. While AI offers significant advantages in terms of productivity, decision making, innovation, and societal advancements, it also poses challenges related to implementation costs, job displacement, ethical considerations, workforce transition, and cybersecurity risks.

Keywords: Costs and benefits of AI; Implementation costs; Job displacement; Ethical and social implications of AI; Workforce transition; Cybersecurity risk; Adverse effects of AI; Gig economy; Wage decoupling; Productivity-wage gap; Autonomous weapons (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035345854
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