Download or read book The Economics of Artificial Intelligence written by Ajay Agrawal and published by University of Chicago Press. This book was released on 2024-03-05 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.

Download or read book Artificial Intelligence in Economics and Finance Theories written by Tankiso Moloi and published by Springer Nature. This book was released on 2020-05-07 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Artificial Intelligence (AI) seizes all aspects of human life, there is a fundamental shift in the way in which humans are thinking of and doing things. Ordinarily, humans have relied on economics and finance theories to make sense of, and predict concepts such as comparative advantage, long run economic growth, lack or distortion of information and failures, role of labour as a factor of production and the decision making process for the purpose of allocating resources among other theories. Of interest though is that literature has not attempted to utilize these advances in technology in order to modernize economic and finance theories that are fundamental in the decision making process for the purpose of allocating scarce resources among other things. With the simulated intelligence in machines, which allows machines to act like humans and to some extent even anticipate events better than humans, thanks to their ability to handle massive data sets, this book will use artificial intelligence to explain what these economic and finance theories mean in the context of the agent wanting to make a decision. The main feature of finance and economic theories is that they try to eliminate the effects of uncertainties by attempting to bring the future to the present. The fundamentals of this statement is deeply rooted in risk and risk management. In behavioural sciences, economics as a discipline has always provided a well-established foundation for understanding uncertainties and what this means for decision making. Finance and economics have done this through different models which attempt to predict the future. On its part, risk management attempts to hedge or mitigate these uncertainties in order for “the planner” to reach the favourable outcome. This book focuses on how AI is to redefine certain important economic and financial theories that are specifically used for the purpose of eliminating uncertainties so as to allow agents to make informed decisions. In effect, certain aspects of finance and economic theories cannot be understood in their entirety without the incorporation of AI.

Download or read book Economics and Law of Artificial Intelligence written by Georgios I. Zekos and published by Springer Nature. This book was released on 2021-01-11 with total page 547 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a comprehensive analysis of the alterations and problems caused by new technologies in all fields of the global digital economy. The impact of artificial intelligence (AI) not only on law but also on economics is examined. In the first part, the economics of AI are explored, including topics such as e-globalization and digital economy, corporate governance, risk management, and risk development, followed by a quantitative econometric analysis which utilizes regressions stipulating the scale of the impact. In the second part, the author presents the law of AI, covering topics such as the law of electronic technology, legal issues, AI and intellectual property rights, and legalizing AI. Case studies from different countries are presented, as well as a specific analysis of international law and common law. This book is a must-read for scholars and students of law, economics, and business, as well as policy-makers and practitioners, interested in a better understanding of legal and economic aspects and issues of AI and how to deal with them.

Download or read book The Feeling Economy written by Roland T. Rust and published by Springer Nature. This book was released on 2021-01-19 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: As machines are trained to “think,” many tasks that previously required human intelligence are becoming automated through artificial intelligence. However, it is more difficult to automate emotional intelligence, and this is where the human worker’s competitive advantage over machines currently lies. This book explores the impact of AI on everyday life, looking into workers’ adaptation to these changes, the ways in which managers can change the nature of jobs in light of AI developments, and the potential for humans and AI to continue working together. The book argues that AI is rapidly assuming a larger share of thinking tasks, leaving human intelligence to focus on feeling. The result is the “Feeling Economy,” in which both employees and consumers emphasize feeling to an unprecedented extent, with thinking tasks largely delegated to AI. The book shows both theoretical and empirical evidence that this shift is well underway. Further, it explores the effect of the Feeling Economy on our everyday lives in the areas such as shopping, politics, and education. Specifically, it argues that in this new economy, through empathy and people skills, women may gain an unprecedented degree of power and influence. This book will appeal to readers across disciplines interested in understanding the impact of AI on business and our daily lives. It represents a bold, potentially controversial attempt to gauge the direction in which society is heading.

Download or read book The AI Economy written by Roger Bootle and published by Nicholas Brealey. This book was released on 2019-11-26 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gold winner in Business Technology category, 2020 Axiom Business Book Awards Extraordinary innovations in technology promise to transform the world, but how realistic is the claim that AI will change our lives? In this much needed book the acclaimed economist Roger Bootle responds to the fascinating economic questions posed by the age of the robot, steering a path away from tech jargon and alarmism towards a rational explanation of the ways in which the AI revolution will affect us all. Tackling the implications of Artificial Intelligence on growth, productivity, inflation and the distribution of wealth and power, THE AI ECONOMY also examines coming changes to the the way we educate, work and spend our leisure time. A fundamentally optimistic view which will help you plan for changing times, this book explains AI and leads you towards a more certain future. Extraordinary innovations in technology promise to transform the world, but how realistic is the claim that AI will change our lives? In this much needed book the acclaimed economist Roger Bootle responds to the fascinating economic questions posed by the age of the robot, steering a path away from tech jargon and alarmism towards a rational explanation of the ways in which the AI revolution will affect us all. Tackling the implications of Artificial Intelligence on growth, productivity, inflation and the distribution of wealth and power, THE AI ECONOMY also examines coming changes to the the way we educate, work and spend our leisure time. A fundamentally optimistic view which will help you plan for changing times, this book explains AI and leads you towards a more certain future.

Download or read book Machine Learning and Artificial Intelligence for Agricultural Economics written by Chandrasekar Vuppalapati and published by Springer Nature. This book was released on 2021-10-04 with total page 611 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses machine learning and artificial intelligence (AI) for agricultural economics. It is written with a view towards bringing the benefits of advanced analytics and prognostics capabilities to small scale farmers worldwide. This volume provides data science and software engineering teams with the skills and tools to fully utilize economic models to develop the software capabilities necessary for creating lifesaving applications. The book introduces essential agricultural economic concepts from the perspective of full-scale software development with the emphasis on creating niche blue ocean products. Chapters detail several agricultural economic and AI reference architectures with a focus on data integration, algorithm development, regression, prognostics model development and mathematical optimization. Upgrading traditional AI software development paradigms to function in dynamic agricultural and economic markets, this volume will be of great use to researchers and students in agricultural economics, data science, engineering, and machine learning as well as engineers and industry professionals in the public and private sectors.

Download or read book Artificial Intelligence and International Economic Law written by Shin-yi Peng and published by Cambridge University Press. This book was released on 2021-10-14 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: Artificial intelligence (AI) technologies are transforming economies, societies, and geopolitics. Enabled by the exponential increase of data that is collected, transmitted, and processed transnationally, these changes have important implications for international economic law (IEL). This volume examines the dynamic interplay between AI and IEL by addressing an array of critical new questions, including: How to conceptualize, categorize, and analyze AI for purposes of IEL? How is AI affecting established concepts and rubrics of IEL? Is there a need to reconfigure IEL, and if so, how? Contributors also respond to other cross-cutting issues, including digital inequality, data protection, algorithms and ethics, the regulation of AI-use cases (autonomous vehicles), and systemic shifts in e-commerce (digital trade) and industrial production (fourth industrial revolution). This title is also available as Open Access on Cambridge Core.

Download or read book Artificial Economics written by Ruben Mercado and published by Cambridge University Press. This book was released on 2021-11-04 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introductory overview of the methods, models and interdisciplinary links of artificial economics. Addresses the differences between the assumptions and methods of artificial economics and those of mainstream economics. This is one of the first books to fully address, in an intuitive and conceptual form, this new way of doing economics.

Download or read book Artificial Intelligence in Society written by OECD and published by OECD Publishing. This book was released on 2019-06-11 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: The artificial intelligence (AI) landscape has evolved significantly from 1950 when Alan Turing first posed the question of whether machines can think. Today, AI is transforming societies and economies. It promises to generate productivity gains, improve well-being and help address global challenges, such as climate change, resource scarcity and health crises.

Download or read book Artificial Intelligence in Financial Markets written by Christian L. Dunis and published by Springer. This book was released on 2016-11-21 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: As technology advancement has increased, so to have computational applications for forecasting, modelling and trading financial markets and information, and practitioners are finding ever more complex solutions to financial challenges. Neural networking is a highly effective, trainable algorithmic approach which emulates certain aspects of human brain functions, and is used extensively in financial forecasting allowing for quick investment decision making. This book presents the most cutting-edge artificial intelligence (AI)/neural networking applications for markets, assets and other areas of finance. Split into four sections, the book first explores time series analysis for forecasting and trading across a range of assets, including derivatives, exchange traded funds, debt and equity instruments. This section will focus on pattern recognition, market timing models, forecasting and trading of financial time series. Section II provides insights into macro and microeconomics and how AI techniques could be used to better understand and predict economic variables. Section III focuses on corporate finance and credit analysis providing an insight into corporate structures and credit, and establishing a relationship between financial statement analysis and the influence of various financial scenarios. Section IV focuses on portfolio management, exploring applications for portfolio theory, asset allocation and optimization. This book also provides some of the latest research in the field of artificial intelligence and finance, and provides in-depth analysis and highly applicable tools and techniques for practitioners and researchers in this field.

Download or read book Artificial Intelligence and Economic Theory Skynet in the Market written by Tshilidzi Marwala and published by Springer. This book was released on 2017-09-18 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book theoretically and practically updates major economic ideas such as demand and supply, rational choice and expectations, bounded rationality, behavioral economics, information asymmetry, pricing, efficient market hypothesis, game theory, mechanism design, portfolio theory, causality and financial engineering in the age of significant advances in man-machine systems. 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 concepts such as the swarming of birds, the working of the brain and the pathfinding of the ants. Artificial Intelligence and Economic Theory: Skynet in the Market analyses the impact of artificial intelligence on economic theories, a subject that has not been studied. It also introduces new economic theories and these are rational counterfactuals and rational opportunity costs. These ideas are applied to diverse areas such as modelling of the stock market, credit scoring, HIV and interstate conflict. Artificial intelligence ideas used in this book include neural networks, particle swarm optimization, simulated annealing, fuzzy logic and genetic algorithms. It, furthermore, explores ideas in causality including Granger as well as the Pearl causality models.

Download or read book The Economics of Artificial Intelligence written by Ajay Agrawal and published by University of Chicago Press. This book was released on 2019-05-22 with total page 643 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in artificial intelligence (AI) highlight the potential of this technology 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. It covers four broad themes: AI as a general purpose technology; the relationships 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. It explores the economic influence of machine learning, the branch of computational statistics that has driven much of the recent excitement around AI, as well as the economic impact of robotics and automation and the potential economic consequences of a still-hypothetical artificial general intelligence. The volume provides frameworks for understanding the economic impact of AI and identifies a number of open research questions. Contributors: Daron Acemoglu, Massachusetts Institute of Technology Philippe Aghion, Collège de France Ajay Agrawal, University of Toronto Susan Athey, Stanford University James Bessen, Boston University School of Law Erik Brynjolfsson, MIT Sloan School of Management Colin F. Camerer, California Institute of Technology Judith Chevalier, Yale School of Management Iain M. Cockburn, Boston University Tyler Cowen, George Mason University Jason Furman, Harvard Kennedy School Patrick Francois, University of British Columbia Alberto Galasso, University of Toronto Joshua Gans, University of Toronto Avi Goldfarb, University of Toronto Austan Goolsbee, University of Chicago Booth School of Business Rebecca Henderson, Harvard Business School Ginger Zhe Jin, University of Maryland Benjamin F. Jones, Northwestern University Charles I. Jones, Stanford University Daniel Kahneman, Princeton University Anton Korinek, Johns Hopkins University Mara Lederman, University of Toronto Hong Luo, Harvard Business School John McHale, National University of Ireland Paul R. Milgrom, Stanford University Matthew Mitchell, University of Toronto Alexander Oettl, Georgia Institute of Technology Andrea Prat, Columbia Business School Manav Raj, New York University Pascual Restrepo, Boston University Daniel Rock, MIT Sloan School of Management Jeffrey D. Sachs, Columbia University Robert Seamans, New York University Scott Stern, MIT Sloan School of Management Betsey Stevenson, University of Michigan Joseph E. Stiglitz. Columbia University Chad Syverson, University of Chicago Booth School of Business Matt Taddy, University of Chicago Booth School of Business Steven Tadelis, University of California, Berkeley Manuel Trajtenberg, Tel Aviv University Daniel Trefler, University of Toronto Catherine Tucker, MIT Sloan School of Management Hal Varian, University of California, Berkeley

Download or read book Towards an International Political Economy of Artificial Intelligence written by Tugrul Keskin and published by Springer Nature. This book was released on 2021-07-01 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume seeks to leverage academic interdisciplinarity to develop insight into how Artificial intelligence (AI), the latest GPT to emerge, may influence or radically change socio-political norms, practices, and institutions. AI may best be understood as a predictive technology. “Prediction is the process of filling in missing information. Prediction takes information you have, often called ‘data’, and uses it to generate information you don’t have” (Agrawal, Gans, and Goldfarb 2018, 13; also see Mayer-Schonberger and Ramge 2018). AI makes prediction cheap because the cost of information is now close to zero. Cheap prediction through AI technologies are radically altering how we govern ourselves, interact with each other, and sustain society. Contributors to this volume represent the academic disciplines of Sociology and Political Science working within a diverse set of intra-disciplinary fields that when combined, yield novel insights into the following questions guiding this volume: How might AI transform people? How might AI transform socio-political practices? How might AI transform socio-political institutions?

Download or read book Economic Modeling Using Artificial Intelligence Methods written by Tshilidzi Marwala and published by Springer Science & Business Media. This book was released on 2013-04-02 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Modeling Using Artificial Intelligence Methods examines the application of artificial intelligence methods to model economic data. Traditionally, economic modeling has been modeled in the linear domain where the principles of superposition are valid. The application of artificial intelligence for economic modeling allows for a flexible multi-order non-linear modeling. In addition, game theory has largely been applied in economic modeling. However, the inherent limitation of game theory when dealing with many player games encourages the use of multi-agent systems for modeling economic phenomena. The artificial intelligence techniques used to model economic data include: multi-layer perceptron neural networks radial basis functions support vector machines rough sets genetic algorithm particle swarm optimization simulated annealing multi-agent system incremental learning fuzzy networks Signal processing techniques are explored to analyze economic data, and these techniques are the time domain methods, time-frequency domain methods and fractals dimension approaches. Interesting economic problems such as causality versus correlation, simulating the stock market, modeling and controling inflation, option pricing, modeling economic growth as well as portfolio optimization are examined. The relationship between economic dependency and interstate conflict is explored, and knowledge on how economics is useful to foster peace – and vice versa – is investigated. Economic Modeling Using Artificial Intelligence Methods deals with the issue of causality in the non-linear domain and applies the automatic relevance determination, the evidence framework, Bayesian approach and Granger causality to understand causality and correlation. Economic Modeling Using Artificial Intelligence Methods makes an important contribution to the area of econometrics, and is a valuable source of reference for graduate students, researchers and financial practitioners.

Download or read book The Big Data Driven Digital Economy Artificial and Computational Intelligence written by Abdalmuttaleb M. A. Musleh Al-Sartawi and published by Springer Nature. This book was released on 2021-05-28 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows digital economy has become one of the most sought out solutions to sustainable development and economic growth of nations. This book discusses the implications of both artificial intelligence and computational intelligence in the digital economy providing a holistic view on AI education, economics, finance, sustainability, ethics, governance, cybersecurity, blockchain, and knowledge management. Unlike other books, this book brings together two important areas, intelligence systems and big data in the digital economy, with special attention given to the opportunities, challenges, for education, business growth, and economic progression of nations. The chapters hereby focus on how societies can take advantage and manage data, as well as the limitations they face due to the complexity of resources in the form of digital data and the intelligence which will support economists, financial managers, engineers, ICT specialists, digital managers, data managers, policymakers, regulators, researchers, academics, students, economic development strategies, and the efforts made by the UN towards achieving their sustainability goals.

Download or read book The Nexus between Artificial Intelligence and Economics written by Ad J. W. van de Gevel and published by Springer Science & Business Media. This book was released on 2013-04-15 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: The manuscript reviews some key ideas about artificial intelligence, and relates them to economics. These include its relation to robotics, and the concepts of synthetic emotions, consciousness, and life. The economic implications of the advent of artificial intelligence, such as its effect on prices and wages, appropriate patent policy, and the possibility of accelerating productivity, are discussed. The growing field of artificial economics and the use of artificial agents in experimental economics is considered.​

Download or read book Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.