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This paper argues that market governance mechanisms should be considered a key approach in the governance of artificial intelligence (AI), alongside traditional regulatory frameworks. While current governance approaches have predominantly…
The stochastic nature of artificial intelligence (AI) models introduces risk to business applications that use AI models without careful consideration. This paper offers an approach to use AI techniques to gain insights on the usage of the…
Artificial intelligence (AI) systems impose substantial and growing environmental costs, yet transparency about these impacts has declined even as their deployment has accelerated. This paper makes three contributions. First, we collate…
Advanced AI models hold the promise of tremendous benefits for humanity, but society needs to proactively manage the accompanying risks. In this paper, we focus on what we term "frontier AI" models: highly capable foundation models that…
This paper investigates the impact of the adoption of generative AI on financial stability. We conduct laboratory-style experiments using large language models to replicate classic studies on herd behavior in trading decisions. Our results…
Tool-enabled AI agents are increasingly deployed in cloud-hosted environments and offered as services, where they perform side-effecting operations through privileged tools within execution environments. While such agents enable powerful…
Is the rapid adoption of Artificial Intelligence a sign that creative destruction (a capitalist innovation process first theorised in 1942) is occurring? Although its theory suggests that it is only visible over time in aggregate, this…
AI risks are typically framed around physical threats to humanity, a loss of control or an accidental error causing humanity's extinction. However, I argue in line with the gradual disempowerment thesis, that there is an underappreciated…
Artificial intelligence (AI) has the potential to greatly improve society, but as with any powerful technology, it comes with heightened risks and responsibilities. Current AI research lacks a systematic discussion of how to manage…
Artificial intelligence (AI) can undermine financial stability because of malicious use, misinformation, misalignment, and the AI analytics market structure. The low frequency and uniqueness of financial crises, coupled with mutable and…
The implications of technological innovation for sustainability are becoming increasingly complex with information technology moving machines from being mere tools for production or objects of consumption to playing a role in economic…
The integration of Generative Artificial Intelligence (AI) into autonomous machines represents a major paradigm shift in how these systems operate and unlocks new solutions to problems once deemed intractable. Although generative AI agents…
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…
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 has made a significant contribution to autonomous vehicles, from object detection to path planning. However, AI models require a large amount of sensitive training data and are usually computationally intensive to…
The effects of automation on our economy and society are more palpable than ever, with nearly half of jobs at risk of being fully executed by machines over the next decade or two. Policymakers and scholars alike have championed the…
Generative AI models are capable of performing a wide variety of tasks that have traditionally required creativity and human understanding. During training, they learn patterns from existing data and can subsequently generate new content…
Recent AI progress has outpaced expectations, with some experts now predicting AI that matches or exceeds human capabilities in all cognitive areas (AGI) could emerge this decade, potentially posing grave national and global security…
As Artificial Intelligence (AI) technologies proliferate, concern has centered around the long-term dangers of job loss or threats of machines causing harm to humans. All of this concern, however, detracts from the more pertinent and…
Technological innovations have shown remarkable capabilities to benefit and harm society alike. AI constitutes a democratized sophisticated technology accessible to large parts of society, including malicious actors. This work proposes a…