 Economic Policy for Artificial IntelligenceAjay Agrawal, Joshua Gans and Avi Goldfarb Working Papers from eSocialSciences Abstract: Recent progress in artificial intelligence (AI) – a general purpose technology affecting many industries - has been focused on advances in machine learning, which 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 Keywords: eSS; Artificial intelligence (AI) technologies; technology; machine learning; price of prediction; IP policy; privacy; trade; liability; labour; antitrust policies; employment; inequality; competition (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ess:wpaper:id:12823 Access Statistics for this paper More papers in Working Papers from eSocialSciences |
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