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The Wrong Kind of AI? Artificial Intelligence and the Future of Labor Demand

Daron Acemoglu and Pascual Restrepo ()

No 25682, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Artificial Intelligence is set to influence every aspect of our lives, not least the way production is organized. AI, as a technology platform, can automate tasks previously performed by labor or create new tasks and activities in which humans can be productively employed. Recent technological change has been biased towards automation, with insufficient focus on creating new tasks where labor can be productively employed. The consequences of this choice have been stagnating labor demand, declining labor share in national income, rising inequality and lower productivity growth. The current tendency is to develop AI in the direction of further automation, but this might mean missing out on the promise of the "right" kind of AI with better economic and social outcomes.

JEL-codes: J23 J24 (search for similar items in EconPapers)
Date: 2019-03
New Economics Papers: this item is included in nep-big, nep-ino, nep-ltv and nep-pay
Note: LS
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Published as Daron Acemoglu & Pascual Restrepo, 2020. "The wrong kind of AI? Artificial intelligence and the future of labour demand," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 13(1), pages 25-35.

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