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Economic Policy for Artificial Intelligence

Author

Listed:
  • Avi Goldfarb
  • Joshua Gans
  • Ajay Agrawal

Abstract

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 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 pat terns of AI. Second, labor and antitrust polic ies will influence the consequences of AI in terms of employment, inequality, and competition.

Suggested Citation

  • Avi Goldfarb & Joshua Gans & Ajay Agrawal, 2018. "Economic Policy for Artificial Intelligence," Working Papers id:12798, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:12798
    Note: Institutional Papers
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    JEL classification:

    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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