Economic Policy for Artificial Intelligence
By Ajay Agrawal, Joshua S. Gans, Avi Goldfarb. Innovation Policy and the Economy, 2018
274 citations recorded by the source corpus.
Recent progress in artificial intelligence (AI)—a general purpose technology affecting many industries—has been focused on advances in machine learning, which we recast as a quality-adjusted drop in the price of prediction. How will this sharp drop in price impact society? Policy will influence the impact on two key dimensions: diffusion and consequences. First, in addition to subsidies and intellectual property (IP) policy that will influence the diffusion of AI in ways similar to their effect on other technologies, three policy categories—privacy, trade, and liability—may be uniquely salient in their influence on the diffusion patterns of AI. Second, labor and antitrust policies will influence the consequences of AI in terms of employment, inequality, and competition.
Subfields: Economics and Econometrics, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/110b0dab674cd0739134680238a3e4d4bfecb359
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Citations in the corpus
- Time and the Value of Data (2020, unknown): “(HBS Working Paper 21-016, First Draft: August 2020) have been examined by several authors [e.g., Aghion et al. (2019),Agrawal et al. (2019),Bald-win (2019),Brynjolfsson et al. (2018),Cockburn et al. (2019),Cowgill and Tucker (2020),Jones and Tonetti (2020),Korinek and Stiglitz (2019),Milgrom and…”
- Artificial Intelligence and Entrepreneurship: Implications for Venture Creation in the Fourth Industrial Revolution (2020, background): “…recognize cancer at an earlier stage than human experts ( Leachman & Merlino, 2017; Miller & Brown, 2018 ) or new technology firms such as Atomwise (Agrawal et al., 2019) who use AI to predict the outcome of chemical interactions, removing the need to manually test hundreds to thousands of…”