Artificial Intelligence: Economic Impact, Opportunities, Challenges, Implications for Policy

Wouter Simons, Alessandro Turrini and Lara Vivian

No 210, European Economy - Discussion Papers from Directorate General Economic and Financial Affairs (DG ECFIN), European Commission

Abstract: This discussion paper presents the key features of Artificial Intelligence (AI), highlighting the main differences with respect to previous IT and digital technologies. It presents the most relevant facts about AI diffusion across EU countries, and discusses the main economic implications, focusing especially on its impact on productivity and labour markets. While AI presents a formidable opportunity, it also entails major challenges, with implications for policy. This paper focuses on policies to remove bottlenecks to AI development and adoption, regulatory policies, competition policy, policies to deal with labour market and distributive implications.

JEL-codes: J20 J30 O30 O40 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2024-07
New Economics Papers: this item is included in nep-eur, nep-lma and nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:euf:dispap:210

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