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It is widely assumed that increases in economic productivity necessarily lead to economic growth. In this paper, it is shown that this is not always the case. An idealized model of an economy is presented in which a new technology allows…
Artificial Intelligence (AI) will change human work by taking over specific job tasks, but there is a debate which tasks are susceptible to automation, and whether AI will augment or replace workers and affect wages. By combining data on…
The Fourth Industrial Revolution commonly refers to the accelerating technological transformation that has been taking place in the 21st century. Economic growth theories which treat the accumulation of knowledge and its effect on…
Artificial intelligence (AI) is reshaping the labor market by changing the task content of occupations. This study investigates the impact of AI development on the emergence of new work, employment, and wages in the United States from 2015…
The emergence of artificial intelligence and robotics is catalyzing a profound transformation in the nature of human labor, fueling a contentious debate about the future of employment. While prominent studies predict substantial job…
Artificial Intelligence's (AI) rapid development and growth not only transformed industries but also fired up important debates about its impacts on employment, resource allocation, and the ethics involved in decision-making. It serves to…
We analyze how output and wages behave under different scenarios for technological progress that may culminate in Artificial General Intelligence (AGI), defined as the ability of AI systems to perform all tasks that humans can perform. We…
Creativity is a fundamental pillar of human expression and a driving force behind innovation, yet it now stands at a crossroads. As artificial intelligence advances at an astonishing pace, the question arises: can machines match and…
This paper examines the profound challenges that transformative advances in AI towards Artificial General Intelligence (AGI) will pose for economists and economic policymakers. I examine how the Age of AI will revolutionize the basic…
AI that can accelerate research could drive a century of technological progress over just a few years. During such a period, new technological or political developments will raise consequential and hard-to-reverse decisions, in rapid…
Recent advances in artificial intelligence (AI) have led to a wide range of predictions about its long-term impact on humanity. A central focus is the potential emergence of transformative AI (TAI), eventually capable of outperforming…
As the digital economy grows increasingly intangible, traditional productivity measures struggle to capture the true economic impact of artificial intelligence (AI). AI systems capable of cognitive work significantly enhance productivity,…
This paper examines whether artificial intelligence (AI) acts as a substitute or complement to human labour, drawing on 12 million online job vacancies from the United States spanning 2018-2023. We adopt a two-pronged approach: first,…
Artificial intelligence (AI) is advancing exponentially and is likely to have profound impacts on human wellbeing, social equity, and environmental sustainability. Here we argue that the "alignment problem" in AI research is also an…
Recent progress in artificial intelligence (AI) marks a pivotal moment in human history. It presents the opportunity for machines to learn, adapt, and perform tasks that have the potential to assist people, from everyday activities to their…
Generative Artificial Intelligence constitutes a new wave of automation. There is broad agreement among economists that humanity is potentially entering into a period of profound change. However, significant uncertainties and disagreements…
The possibility of a rapid, "software-only" intelligence explosion brought on by AI's recursive self-improvement (RSI) is a subject of intense debate within the AI community. This paper presents an economic model and an empirical estimation…
Artificial Intelligence (AI) is increasingly central to economic growth, promising new efficiencies and markets. This economic significance has sparked debate over AI regulation: do rules and oversight bolster long term growth by building…
As AI adoption accelerates, research on its economic impacts becomes a salient source to consider for stakeholders of AI policy. Such research is however still in its infancy, and one in need of review. This paper aims to accomplish just…
This study looks at how generative artificial intelligence (AI) can revolutionize marketing, product development, and research. It discusses the latest developments in the field, easy-to-use resources, and moral and social hazards. In…