Download or read book Essays on Information Technology Intangible Capital and the Economics of Artificial Intelligence written by Daniel Ian Rock and published by . This book was released on 2019 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation contains four essays concerning the economics of information technology, intangible capital, and artificial intelligence. In the first essay, "Engineering Value: The Returns to Technological Talent and Investments in Artificial Intelligence" I describe how firms can appropriate some of the value of their employees' human capital by assigning firm-specific tasks. I then use a database of employment records to document dynamics in the valuation of publicly traded firms as they relate to different types of employment, focusing especially on AI skills. The second essay, "The Productivity J-Curve: How Intangibles Complement General Purpose Technologies" (coauthored with Erik Brynjolfsson and Chad Syverson) addresses the concern that new technologies with wide applicability throughout the economy can cause both underestimation and overestimation of total factor productivity. As capital is accumulated, intangible investment output, and therefore productivity growth, will be underestimated only to later generate a yield (at which point productivity growth will be overestimated). Presenting a theoretical description of how to use corporate valuations to recover hidden investment value, we discuss how productivity growth and levels can be adjusted to accommodate these changes. Implications for research and development, computer hardware, and computer software investments are considered. The third essay, "Machine Learning and Occupational Change" (coauthored with Erik Brynjolfsson and Tom Mitchell), develops and implements a method to measure the labor market impact potential of machine learning technologies. Tasks are evaluated for their Suitability for Machine Learning (SML). We find that few occupations can be fully automated with machine learning, but many occupations will potentially be redesigned. The final essay, "Do Labor Demand Shifts Occur Within Firms or Across Them? Non-Routine-Biased Technological Change 2000-2016" (coauthored with Seth Benzell and Guillermo Lagarda) decomposes labor share shifts of occupational groups into changes between firms, within firms, and due to entry and exit. We find that within-firm compositional shifts are an important component of changes in the overall labor market. We also find that the rate of within-firm shifts has declined in the period from 2000 to 2016. Together, these essays offer insights into how artificial intelligence technologies, particularly machine learning, will impact the U.S. economy.

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 Intellectual Capital Smart Technologies and Digitalization written by Maria Serena Chiucchi and published by Springer Nature. This book was released on 2021-10-13 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book treats intellectual capital, smart technologies, and digitalization processes as levers of corporate competitiveness and global value creation. This book is based on theoretical and practical research output from the STEDIC SIDREA Group. It uses several methodologies to discover features and pillars on intellectual capital such as human capital, relational capital, and structural capital as well as smart technologies such as artificial intelligence, Internet of Things, big data, and digitalization.

Download or read book Intangible Capital and Growth written by Felix Roth and published by Springer Nature. This book was released on 2022 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: For several decades now, advanced economies across the globe have been undergoing a process of rapid transformation towards becoming knowledge economies. It is now widely recognized that intangible capital has been a crucial element in the growth performance of these economies and their firms. In the author's view, "intangible capital" serves as the most appropriate umbrella term for capturing several dimensions of capital that are not tangible in nature but are nevertheless fundamentally important for growth. The term encompasses investments in education (human capital) and in informal (social capital) and formal (rule of law) institutions by the public sector and households, as well as investments by businesses aimed at enhancing their knowledge base, such as software, innovative property, and economic competencies. Intangible Capital and Growth is the first of two open access volumes presenting a selection of the author's essays on Labor Productivity, Monetary Economics, and the Political Economy, which represent the first part of his habilitation in economics. This first volume brings together eight of the author's essays, selected to provide an overview of the evolution of his research on intangible capital and growth [Resumen de la editorial]

Download or read book Essays in the Economics of Artificial Intelligence written by Michael William Webb and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three chapters. In the first chapter, I develop a new method to predict the impacts of any technology on occupations. I use the overlap between the text of job task descriptions and the text of patents to construct a measure of the exposure of tasks to automation. I first apply the method to historical cases such as software and industrial robots. I establish that occupations I measure as highly exposed to previous automation technologies saw declines in employment and wages over the relevant periods. I use the fitted parameters from the case studies to predict the impacts of artificial intelligence. I find that, in contrast to software and robots, AI is directed at high-skilled tasks. Under the assumption that historical patterns of long-run substitution will continue, I estimate that AI will reduce 90:10 wage inequality, but will not affect the top 1%. The second chapter presents work coauthored with Nick Short, Nick Bloom, and Josh Lerner. We show that patenting in software, cloud computing, and artificial intelligence has grown rapidly in recent years. Such patents are acquired primarily by large US technology firms such as IBM, Microsoft, Google, and HP, as well as by Japanese multinationals such as Sony, Canon, and Fujitsu. Chinese patenting in the US is small but growing rapidly, and world-leading for drone technology. Patenting in machine learning has seen exponential growth since 2010, although patenting in neural networks saw a strong burst of activity in the 1990s that has only recently been surpassed. In all technological fields, the number of patents per inventor has declined near-monotonically, except for large increases in inventor productivity in software and semiconductors in the late 1990s. In most high-tech fields, Japan is the only country outside the US with significant US patenting activity; however, whereas Japan played an important role in the burst of neural network patenting in the 1990s, it has not been involved in the current acceleration. Comparing the periods 1970-89 and 2000-15, patenting in the current period has been primarily by entrant assignees, with the exception of neural networks. The third chapter presents work coauthored with Nick Bloom, Chad Jones, and John Van Reenen. Long-run growth in many models is the product of two terms: the effective number of researchers and their research productivity. We present evidence from various industries, products, and firms showing that research effort is rising substantially while research productivity is declining sharply. A good example is Moore's Law. The number of researchers required today to achieve the famous doubling of computer chip density is more than 18 times larger than the number required in the early 1970s. More generally, everywhere we look we find that ideas -- and the exponential growth they imply -- are getting harder to find.

Download or read book Artificial Intelligence and Economics the Key to the Future written by Domenico Marino and published by Springer Nature. This book was released on 2022-10-25 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to deal with the main advances in the study of artificial intelligence, the digital and circular economy and innovation from a multidisciplinary perspective. Whoever governs the artificial intelligence will hold the keys to the world and the future. This consideration explains the growing role of artificial intelligence in our lives and the need to understand its mechanisms. This book presents original research articles addressing various aspects of artificial intelligence applied to economics, law, management, and optimization. The topics discussed include, economics, territorial policies, law, resource allocation strategies, information technology, and learning for inclusion. Combining the input of contributing professors and researchers from Italian and other foreign universities, the book is of interest to students, researchers, and practitioners, as well as members of the public in general, interested in the world of the artificial intelligence and economics.

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 Economics of the Fourth Industrial Revolution written by Nicholas Johnson and published by Routledge. This book was released on 2020-10-25 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book applies cutting-edge economic analysis and social science to unpack the rich complexities and paradoxes of the Fourth Industrial Revolution. The book takes the reader on a bold, refreshing, and informative tour through its technological drivers, its profound impact on human ecosystems, and its potential for sustainable human development. The overarching message to the reader is that the Fourth Industrial Revolution is not merely something to be feared or survived; rather, this dramatic collision of technologies, disciplines, and ideas presents a magnificent opportunity for a generation of new pioneers to rewrite "accepted rules" and find new avenues to empower billions of people to thrive. This book will help readers to discern the difference between disruption and transformation. The reader will come away from this book with a deeply intuitive and highly contextual understanding of the core technological advances transforming the world as we know it. Beyond this, the reader will clearly appreciate the future impacts on our economies and social structures. Most importantly, the reader will receive an insightful and actionable set of guidelines to assist them in harnessing the Fourth Industrial Revolution so that both they and their communities may flourish. The authors do not primarily seek to make prescriptions for government policy, but rather to speak directly to people about what they can do for themselves, their families, and their communities to be future-proofed and ready to adapt to life in a rapidly evolving world ecosystem.

Download or read book Artificial Intelligence Valuation written by Roberto Moro-Visconti and published by Springer Nature. This book was released on with total page 710 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Technology Trap written by Carl Benedikt Frey and published by Princeton University Press. This book was released on 2020-09-22 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Industrial Revolution to the age of artificial intelligence, Carl Benedikt Frey offers a sweeping account of the history of technological progress and how it has radically shifted the distribution of economic and political power among society's members. As the author shows, the Industrial Revolution created unprecedented wealth and prosperity over the long run, but the immediate consequences of mechanization were devastating for large swaths of the population.These trends broadly mirror those in our current age of automation. But, just as the Industrial Revolution eventually brought about extraordinary benefits for society, artificial intelligence systems have the potential to do the same. Benedikt Frey demonstrates that in the midst of another technological revolution, the lessons of the past can help us to more effectively face the present. --From publisher description.

Download or read book Technological Trends in the AI Economy written by Elena N. Makarenko and published by Springer Nature. This book was released on 2023-03-03 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is devoted to the study of artificial intelligence from a new perspective – not just a technology but a social institution with complex social connections and relationships. The book systematically highlights technological trends of the artificial intelligence economy and considers all the components of its cascade effect with an overview of international experience and substantiation of promising ways of adapting to the modern stage of technological transit of economic systems. The cascade effect is understood as a chain of interdependent events that are triggered as artificial intelligence takes root in society and the economy. Among the technological trends (current areas of the practical application of artificial intelligence), highlighted in the book, are “smart” homes, digital regions, the use of artificial intelligence to ensure cybersecurity, as well as the optimization of business processes based on artificial intelligence. The book interprets the economics of artificial intelligence as a result of the transition to a digital technological order. A review of modern experience and regulatory perspectives of the institutionalization of the artificial intelligence economy is carried out. The legal framework for combating cyber threats in the artificial intelligence economy has been determined. The promising frameworks for using artificial intelligence in various branches of industry are presented. The book provides practical examples, case studies and proposed frameworks for using AI in various sectors of the economy, which allows using the book as a practical guide to managing the artificial intelligence economy.

Download or read book Automation and Autonomy written by James Steinhoff and published by Palgrave Macmillan. This book was released on 2021-06-22 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues that Marxist theory is essential for understanding the contemporary industrialization of the form of artificial intelligence (AI) called machine learning. It includes a political economic history of AI, tracking how it went from a fringe research interest for a handful of scientists in the 1950s to a centerpiece of cybernetic capital fifty years later. It also includes a political economic study of the scale, scope and dynamics of the contemporary AI industry as well as a labour process analysis of commercial machine learning software production, based on interviews with workers and management in AI companies around the world, ranging from tiny startups to giant technology firms. On the basis of this study, Steinhoff develops a Marxist analysis to argue that the popular theory of immaterial labour, which holds that information technologies increase the autonomy of workers from capital, tending towards a post-capitalist economy, does not adequately describe the situation of high-tech digital labour today. In the AI industry, digital labour remains firmly under the control of capital. Steinhoff argues that theories discerning therein an emergent autonomy of labour are in fact witnessing labour’s increasing automation.

Download or read book Political Economy of Artificial Intelligence written by Bhabani Shankar Nayak and published by Springer Nature. This book was released on with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Second Machine Age Work Progress and Prosperity in a Time of Brilliant Technologies written by Erik Brynjolfsson and published by W. W. Norton & Company. This book was released on 2014-01-20 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times Bestseller. A “fascinating” (Thomas L. Friedman, New York Times) look at how digital technology is transforming our work and our lives. In recent years, Google’s autonomous cars have logged thousands of miles on American highways and IBM’s Watson trounced the best human Jeopardy! players. Digital technologies—with hardware, software, and networks at their core—will in the near future diagnose diseases more accurately than doctors can, apply enormous data sets to transform retailing, and accomplish many tasks once considered uniquely human. In The Second Machine Age MIT’s Erik Brynjolfsson and Andrew McAfee—two thinkers at the forefront of their field—reveal the forces driving the reinvention of our lives and our economy. As the full impact of digital technologies is felt, we will realize immense bounty in the form of dazzling personal technology, advanced infrastructure, and near-boundless access to the cultural items that enrich our lives. Amid this bounty will also be wrenching change. Professions of all kinds—from lawyers to truck drivers—will be forever upended. Companies will be forced to transform or die. Recent economic indicators reflect this shift: fewer people are working, and wages are falling even as productivity and profits soar. Drawing on years of research and up-to-the-minute trends, Brynjolfsson and McAfee identify the best strategies for survival and offer a new path to prosperity. These include revamping education so that it prepares people for the next economy instead of the last one, designing new collaborations that pair brute processing power with human ingenuity, and embracing policies that make sense in a radically transformed landscape. A fundamentally optimistic book, The Second Machine Age alters how we think about issues of technological, societal, and economic progress.

Download or read book Platforms and Artificial Intelligence written by Ahmed Bounfour and published by Springer. This book was released on 2023-03-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Artificial intelligence (AI) and platforms are closely related. Most investments in AI, especially in critical technologies, are provided by large platforms. This book describes how platforms invest in AI and how AI will impact the next generation of competences, following a twofold approach to do so: on the one hand, the book seeks to understand how platforms for investment in intangibles and AI are organized, but on the other hand, it provides a framework to describe how AI will change jobs and competences in the future. Moreover, the book addresses five main themes: 1. platforms, platformization, and the foundations of their business models; 2. artificial intelligence, technological tendencies, and the policy agenda; 3. artificial intelligence, productivity, and the next generation of competences; 4. artificial intelligence, productivity, and the digital divide; 5. artificial intelligence, ethics, and the post-truth society. The book’s content is mostly based on papers presented at the last two installments of the World Conference on Intellectual Capital for Communities. It brings together the views of leading scholars and experts on how artificial intelligence and platformization will impact competences in the near future.

Download or read book Capitalism without Capital written by Jonathan Haskel and published by Princeton University Press. This book was released on 2018-10-16 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Early in the twenty-first century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success. But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the larger economic changes of the past decade, including the growth in economic inequality and the stagnation of productivity. Jonathan Haskel and Stian Westlake explore the unusual economic characteristics of intangible investment and discuss how an economy rich in intangibles is fundamentally different from one based on tangibles. Capitalism without Capital concludes by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.

Download or read book Innovations and Economic and Social Changes due to Artificial Intelligence The State of the Art written by Domenico Marino and published by Springer. This book was released on 2024-07-15 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book aims to deal with the main advances in the study of artificial intelligence, the digital and circular economy, and innovation from a multidisciplinary perspective. Whoever governs the artificial intelligence will hold the keys to the world and the future. This book explains the growing role of artificial intelligence in our lives and the need to understand its mechanisms. The book presents original research articles addressing various aspects of artificial intelligence applied to economics, law, management, and optimization. The topics discussed include economics, territorial policies, law, resource allocation strategies, information technology, and learning for inclusion. Combining the input of contributing professors and researchers from Italian and other foreign universities, the book is of interest to students, researchers, and practitioners, as well as members of the public in general, interested in the world of the artificial intelligence and economics.