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AI and Shared Prosperity

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  • Katya Klinova
  • Anton Korinek

Abstract

Future advances in AI that automate away human labor may have stark implications for labor markets and inequality. This paper proposes a framework to analyze the effects of specific types of AI systems on the labor market, based on how much labor demand they will create versus displace, while taking into account that productivity gains also make society wealthier and thereby contribute to additional labor demand. This analysis enables ethically-minded companies creating or deploying AI systems as well as researchers and policymakers to take into account the effects of their actions on labor markets and inequality, and therefore to steer progress in AI in a direction that advances shared prosperity and an inclusive economic future for all of humanity.

Suggested Citation

  • Katya Klinova & Anton Korinek, 2021. "AI and Shared Prosperity," Papers 2105.08475, arXiv.org.
    • Handle: RePEc:arx:papers:2105.08475
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    References listed on IDEAS

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    Cited by:

    1. Tyna Eloundou & Sam Manning & Pamela Mishkin & Daniel Rock, 2023. "GPTs are GPTs: An Early Look at the Labor Market Impact Potential of Large Language Models," Papers 2303.10130, arXiv.org, revised Aug 2023.

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