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Generative AI has transformed human-computer interaction by enabling natural language interfaces and the emergence of autonomous agents capable of acting on users' behalf. While early applications have improved individual productivity,…
The proposed system aims to use various machine learning algorithms to enhance financial prediction and generate highly accurate analyses. It introduces an AI-driven platform which offers inflation-analysis, stock market prediction, and…
Denizens of Silicon Valley have called Moore's Law "the most important graph in human history," and economists have found that Moore's Law-powered I.T. revolution has been one of the most important sources of national productivity growth.…
With the growing attention and investment in recent AI approaches such as large language models, the narrative that the larger the AI system the more valuable, powerful and interesting it is is increasingly seen as common sense. But what is…
AI and reinforcement learning (RL) have improved many areas, but are not yet widely adopted in economic policy design, mechanism design, or economics at large. At the same time, current economic methodology is limited by a lack of…
Artificial intelligence (AI) is intrinsically data-driven. It calls for the application of statistical concepts through human-machine collaboration during generation of data, development of algorithms, and evaluation of results. This paper…
Artificial Intelligence (AI) can potentially transform the industry, enhancing the production process and minimizing manual, repetitive tasks. Accordingly, the synergy between high-performance computing and powerful mathematical models…
Research and development (R&D) of countries play a major role in a long-term development of the economy. We measure the R&D efficiency of all 28 member countries of the European Union in the years 2008--2014. Super-efficient data…
Developing and implementing AI-based solutions help state and federal government agencies, research institutions, and commercial companies enhance decision-making processes, automate chain operations, and reduce the consumption of natural…
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…
This study investigates the labor market consequences of AI by analyzing near real-time changes in employment status and work hours across occupations in relation to advances in AI capabilities. We construct a dynamic Occupational AI…
Artificial Intelligence (AI) provides many opportunities to improve private and public life. Discovering patterns and structures in large troves of data in an automated manner is a core component of data science, and currently drives…
Artificial Intelligence (AI) has achieved significant advancements in technology and research with the development over several decades, and is widely used in many areas including computing vision, natural language processing, time-series…
AI models that predict the future behavior of a system (a.k.a. predictive AI models) are central to intelligent decision-making. However, decision-making using predictive AI models often results in suboptimal performance. This is primarily…
This paper presents a multidisciplinary task approach for assessing the impact of artificial intelligence on the future of work. We provide definitions of a task from two main perspectives: socio-economic and computational. We propose to…
Advances in artificial intelligence (AI) have great potential to help address societal challenges that are both collective in nature and present at national or trans-national scale. Pressing challenges in healthcare, finance, infrastructure…
Artificial intelligence (AI) is the name popularly given to a broad spectrum of computer tools designed to perform increasingly complex cognitive tasks, including many that used to solely be the province of humans. As these tools become…
We study the impact of climate volatility on economic growth exploiting data on 133 countries between 1960 and 2019. We show that the conditional (ex ante) volatility of annual temperatures increased steadily over time, rendering climate…
This paper proposes a decomposition of human capital into three orthogonal components -- physical-manual (H^P), routine-cognitive (H^C), and augmentable-cognitive (H^A) -- and develops a production function in which AI capital interacts…
The dependence of world GDP on current energy consumption and total energy produced over the previous period and materialized in the form of production infrastructure is studied. The dependence describes empirical data with high accuracy…