The Economics of Artificial Intelligence: An Agenda

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A foundational NBER volume for understanding AI's macroeconomic implications; relevant to AI safety researchers interested in how economic incentives and market structures shape AI development and deployment trajectories.

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Importance: 55/100book chapteranalysis

Summary

An NBER edited volume bringing together leading economists to analyze the economic implications of AI, covering labor markets, productivity, inequality, and market structure. The book establishes a research agenda for understanding how AI affects economic growth, firm behavior, and the distribution of gains from automation. It bridges technical AI developments with economic theory and empirical analysis.

Key Points

•Examines AI's effects on labor markets, including job displacement, skill complementarity, and wage distribution across workers
•Analyzes how AI affects productivity growth, firm-level competition, and potential market concentration among tech giants
•Addresses measurement challenges in capturing AI's economic contributions in GDP and productivity statistics
•Explores inequality implications of AI adoption, including differential access between large and small firms and across income groups
•Provides an interdisciplinary research agenda connecting economics, computer science, and policy to guide future AI governance

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# The Economics of Artificial Intelligence: An Agenda

[Ajay Agrawal](https://www.nber.org/people/ajay_agrawal), [Joshua Gans](https://www.nber.org/people/joshua_gans)
& [Avi Goldfarb](https://www.nber.org/people/avi_goldfarb), editors

Published DateMay 2019

Copyright 2019


ISBN 9780226613338


![The Economics of Artificial Intelligence: An Agenda](https://www.nber.org/sites/default/files/styles/book_cover/public/2020-02/The%20Economics%20of%20Artificial%20Intelligence%20An%20Agenda_0.jpg?itok=EFh7g47w)

CONFERENCE HELD [September 13-14, 2017](https://www.nber.org/conferences/economics-artificial-intelligence-fall-2017)

PUBLISHER: [University of Chicago Press](https://press.uchicago.edu/ucp/books/book/chicago/E/bo35780726.html)

Advances in artificial intelligence (AI) highlight its potential to affect productivity, growth, inequality, market power, innovation, and employment. This volume seeks to set the agenda for economic research on the impact of AI. Its focus is on the economic impact of machine learning, a branch of computational statistics that has driven the recent excitement around AI. The chapters also examine key questions on the economic impact of robotics and automation, as well as the potential economic consequences of a still-hypothetical artificial general intelligence. The volume covers four broad themes: AI as a general purpose technology; the relationship between AI, growth, jobs, and inequality; regulatory responses to changes brought on by AI; and the effects of AI on the way economic research is conducted. In featuring these themes, the volume provides several frameworks for understanding the economic impact of AI. It identifies a number of key open research questions in a variety of research areas.

[Get permission to reprint part of this book](https://www.nber.org/forms/permissionrequestform.pdf) [Purchase Book](https://press.uchicago.edu/ucp/books/book/chicago/E/bo35780726.html)

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Ajay K. Agrawal, Joshua S. Gans, and Avi Goldfarb. 2019. The Economics of Artificial Intelligence: An Agenda. University of Chicago Press. https://www.nber.org/books-and-chapters/economics-artificial-intelligence-agenda.


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## Related

### Topics

[Development and Growth](https://www.nber.org/topics/development-and-growth)

[Innovation and R&D](https://www.nber.org/taxonomy/term/656)

[Microeconomics](https://www.nber.org/topics/microeconomics)

[Economics of Information](https://www.nber.org/taxonomy/term/441)

### Programs

[Productivity, Innovation, and Entrepreneurship](https://www.nber.org/programs-projects/programs-working-groups/productivity-innovation-and-entrepreneurship)

[International Trade and Investment](https://www.nber.org/programs-projects/programs-working-groups/international-trade-and-investment)

[Monetary Economics](https://www.nber.org/program

... (truncated, 6 KB total)

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