This paper empirically investigates the impact of Artificial Intelligence (AI) on employment. Exploiting variation in AI adoption across US commuting zones using a shift-share approach, I find that during 2010-2021, commuting zones with higher AI adoption have experienced a stronger decline in the employment-to-population ratio. Moreover, this negative employment effect is primarily borne by the manufacturing and lowskill services sectors, middle-skill workers, non-STEM occupations, and individuals at the two ends of the age distribution. The adverse impact is also more pronounced on men than women.
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.
We review the evidence that artificial intelligence (AI) is having a large effect on the economy. Across a variety of statistics--including robotics shipments, AI startups, and patent counts--there is evidence of a large increase in AI-related activity. We also review recent research in this area which suggests that AI and robotics have the potential to increase productivity growth but may have mixed effects on labor, particularly in the short run. In particular, some occupations and industries may do well while others experience labor market upheaval. We then consider current and potential policies around AI that may help to boost productivity growth while also mitigating any labor market downsides including evaluating the pros and cons of an AI specific regulator, expanded antitrust enforcement, and alternative strategies for dealing with the labor-market impacts of AI, including universal basic income and guaranteed employment.
Looking for ways to handle the transition to a digital economy Robots, artificial intelligence, and driverless cars are no longer things of the distant future. They are with us today and will become increasingly common in coming years, along with virtual reality and digital personal assistants. As these tools advance deeper into everyday use, they raise the question—how will they transform society, the economy, and politics? If companies need fewer workers due to automation and robotics, what happens to those who once held those jobs and don't have the skills for new jobs? And since many social benefits are delivered through jobs, how are people outside the workforce for a lengthy period of time going to earn a living and get health care and social benefits? Looking past today's headlines, political scientist and cultural observer Darrell M. West argues that society needs to rethink the concept of jobs, reconfigure the social contract, move toward a system of lifetime learning, and develop a new kind of politics that can deal with economic dislocations. With the U.S. governance system in shambles because of political polarization and hyper-partisanship, dealing creatively with the transition to a fully digital economy will vex political leaders and complicate the adoption of remedies that could ease the transition pain. It is imperative that we make major adjustments in how we think about work and the social contract in order to prevent society from spiraling out of control. This book presents a number of proposals to help people deal with the transition from an industrial to a digital economy. We must broaden the concept of employment to include volunteering and parenting and pay greater attention to the opportunities for leisure time. New forms of identity will be possible when the "job" no longer defines people's sense of personal meaning, and they engage in a broader range of activities. Workers will need help throughout their lifetimes to acquire new skills and develop new job capabilities. Political reforms will be necessary to reduce polarization and restore civility so there can be open and healthy debate about where responsibility lies for economic well-being. This book is an important contribution to a discussion about tomorrow—one that needs to take place today.
Recent years have yielded significant advances in computing and communication technologies, with profound impacts on society. Technology is transforming the way we work, play, and interact with others. From these technological capabilities, new industries, organizational forms, and business models are emerging. Technological advances can create enormous economic and other benefits, but can also lead to significant changes for workers. IT and automation can change the way work is conducted, by augmenting or replacing workers in specific tasks. This can shift the demand for some types of human labor, eliminating some jobs and creating new ones. Information Technology and the U.S. Workforce explores the interactions between technological, economic, and societal trends and identifies possible near-term developments for work. This report emphasizes the need to understand and track these trends and develop strategies to inform, prepare for, and respond to changes in the labor market. It offers evaluations of what is known, notes open questions to be addressed, and identifies promising research pathways moving forward.
The development and use of Artificial Intelligence (AI) continue to expand opportunities for the achievement of the 17 United Nations Sustainable Development Goals (SDGs), including gender equality. Taking a closer look at the intersection of gender and technology, this collaboration between UNESCO, the Inter-American Development Bank (IDB) and the Organisation for Economic Co-operation and Development (OECD) examines the effects of AI on the working lives of women. This report describes the challenges and opportunities presented by the use of emerging technology such as AI from a gender perspective. The report highlights the need for more focus and research on the impacts of AI on women and the digital gender gap, in order to ensure that women are not left behind in the future of work.
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.
In the future, if (AI) technology is an increasingly critical component of more products, it will become an integral part of necessary products of many people's lives. The extent of (AI)'s economy effort is also likely to vary from region to region, thought variation may be more dependent on the predominate economic activity of a region and the (AI) ability can influence economic activity, rather then the economic or developmental status of the regions. (AI) technology can move accessibility and can use source development to do international business between one country and another country. So (AI) technology has the potential to give benefits to different income chooses and to bring significant gains to both developed and developing countries. For agricultural technology, (AI) has the potential to optimize food production around the world by analyzing agricultural regions and identifying what is necessary to improve crop yield. In total, (AI) technology gives greater economic impact to any countries agricultural regions if which implemented (AI) technology to grow crop, fruit etc. food production in the farms.Investment in (AI) technology is such as capital investment to any countries' public or private enterprises. So, it will have large economic impact to the future . If the (AI) technology is reasonable invested to the different needs aspect by the public or private enterprises in the country. Then, it will have good economic impact to the country in the future. However, when (AI) technology is likely to affect both the productivity and employment components of economic growth in many sectors. Significant public debate has focused on projections of (AI)'s effect on the labor force. However, for instance, some researchers have argued that the rise of (AI) technology and automation will led to significant unemployment as capital is substituted for the low skillful labor. So, they point to the concern that the increasing sophistication of (AI) technology may balance skilled and semi-skilled workers and the reduce the size of the middle class. However, this is not a new argument, due to (AI) technology negatively affecting the labor force and leading to mass unemployment. Because the (AI) technology is the substitution of machinery for human labor. Although, employment in certain industries, has been reduced in the past due to technological advancement. For long term, the labor market has adapted to the introduction of new technology, giving rise to new jobs in new areas. (AI) technology may also be accomplished without a reduction to total employment in the long-term to some Asia countries, such as Hong Kong and Japan. Because Hong Kong and Japan many low skilled labor, e.g. security, cleaner who complaint that employers need them to work long time hours. ( abnormal working hours) e.g. one day 12 to 15 working hour per day. Hence, if (AI) machine means invention technology success. Security or cleaning job can be worked from (AI) machine man in some hours every day in order to reduce the long time working hours cleaners or security workers, e.g. one (AI) machine man works 4 hours for cleaning or security job, one day as well as another cleaner or security labor only needs to work 8 hours one day. So total security or cleaning employers can employ 12 hours machine cleaners or security workers and human cleaners or security workers in one day. For long term benefit, Hong Kong or Japan every security or cleaning worker does not need to work 12 hours minimum working hours one day. They won't feel tried and bore and without private with whose families, so who will accept to do these cleaning or security jobs, even they can raise work efficient and performance when who feel happy and health.
