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Despite widespread speculation about artificial intelligence's impact on the future of work, we lack systematic empirical evidence about how these systems are actually being used for different tasks. Here, we present a novel framework for…
A central question in economics is whether automation will displace human labor and diminish standards of living. Whilst prior works typically frame this question as a competition between human labor and machines, we frame it as a…
We have used agent-based modeling as our numerical method to artificially simulate a dynamic real economy where agents are rational maximizers of an objective function of Cobb-Douglas type. The economy is characterised by heterogeneous…
This article addresses the societal costs associated with the lack of regulation in Artificial Intelligence and proposes a framework combining innovation and regulation. Over fifty years of AI research, catalyzed by declining computing…
Today, the economy is greatly influenced by Artificial General Intelligence (AGI). The purpose of this paper is to determine the impact of the quantitative relations of AGI on the country's economic parameters. The authors use the analysis…
This article develops the concept of the agentic economy and diagnoses its measurable preconditions: a transition in which economic action is increasingly distributed among humans, AI agents, industrial robots, executable protocols, compute…
We present a macro-finance model with innovation and knowledge spillover. Skilled agents engage in R&D activities (establish firms) or work in the knowledge-intensive sector. Unskilled agents work in the traditional sector. Knowledge…
Generative AI compresses within-task skill differences while shifting economic value toward concentrated complementary assets, creating an apparent paradox: the technology that equalizes individual performance may widen aggregate…
We formalize a macro-financial stress test for rapid AI adoption. Rather than a productivity bust or existential risk, we identify a distribution-and-contract mismatch: AI-generated abundance coexists with demand deficiency because economic…
Generative AI is rapidly reshaping creative work, raising critical questions about its beneficiaries and societal implications. This study challenges prevailing assumptions by exploring how generative AI interacts with diverse forms of…
The increasing use of data in various parts of the economic and social systems is creating a new form of monopoly: data monopolies. We illustrate that the companies using these strategies, Datalists, are challenging the existing definitions…
Technological improvement is the most important cause of long-term economic growth. We study the effects of technology improvement in the setting of a production network, in which each producer buys input goods and converts them to other…
This paper develops a set of simplified dynamical models with which to explore the conditions under which division of labor leads to optimized system output, as measured by the rate of production of a given product. We consider two models:…
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,…
The advent of artificial intelligence has changed many disciplines such as engineering, social science and economics. Artificial intelligence is a computational technique which is inspired by natural intelligence such as the swarming of…
Robotics has the potential to magnify the skilled workforce of the nation by complementing our workforce with automation: teams of people and robots will be able to do more than either could alone. The economic engine of the U.S. runs on…
The rise of foundation models has driven the emergence of AI supply chains, where upstream foundation model providers offer fine-tuning and inference services to downstream firms developing domain-specific applications. Downstream firms pay…
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…
As rapid advances in Artificial Intelligence and the rise of some of history's most potent corporations meet the diminished neoliberal state, people are increasingly subject to power exercised by means of automated systems. Machine learning…
The rise of Artificial General Intelligence (AGI) marks an existential rupture in economic and political order, dissolving the historic boundaries between labor and capital. Unlike past technological advancements, AGI is both a worker and…