The Wrong Kind of AI? Artificial Intelligence and the Future of Labor Demand

By: Acemoglu, Daron (MIT); Restrepo, Pascual (Boston University)
Abstract: Artificial Intelligence is set to influence every aspect of our lives, not least the way production is organized. AI, as a technology platform, can automate tasks previously performed by labor or create new tasks and activities in which humans can be productively employed. Recent technological change has been biased towards automation, with insufficient focus on creating new tasks where labor can be productively employed. The consequences of this choice have been stagnating labor demand, declining labor share in national income, rising inequality and lower productivity growth. The current tendency is to develop AI in the direction of further automation, but this might mean missing out on the promise of the “right” kind of AI with better economic and social outcomes.
Keywords: automation, artificial intelligence, jobs, inequality, innovation, labor demand, productivity, tasks, technology, wages
JEL: J23 J24
URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp12292&r=ltv
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: