Description
Is Artificial Intelligence a more significant invention than electricity? Will it result in explosive economic growth and unimaginable wealth for all, or will it cause the extinction of all humans? Artificial Intelligence: Economic Perspectives and Models provides a sober analysis of these questions from an economics perspective. It argues that to better understand the impact of AI on economic outcomes, we must fundamentally change the way we think about AI in relation to models of economic growth. It describes the progress that has been made so far and offers two ways in which current modelling can be improved: firstly, to incorporate the nature of AI as providing abilities that complement and/or substitute for labour, and secondly, to consider demand-side constraints. Outlining the decision-theory basis of both AI and economics, this book shows how this, and the incorporation of AI into economic models, can provide useful tools for safe, human-centered AI.
Provides essential economic tools to think about the impact of Artificial Intelligence on society, both over the short-and long term.
About the Author
Wim Naude is an economist, author, and entrepreneur. He has held appointments at Oxford University and the United Nations University (UNU) and has been a visiting faculty member at Brown University's Brown International Advanced Research Institutes. He has published widely in scientific journals, and has authored and edited books published by Palgrave Macmillan, Oxford University Press, and Routledge. He is ranked by Stanford University /Elsevier amongst the top 2 percent of scientists in the world. Thomas Gries studied economics at Goettingen and the University of California. He received his Ph.D. at Kiel University. He also was a visiting scholar at UNU World Institute for Development Economics Research in Helsinki. Currently he is Professor for International Growth at Paderborn University, Germany. His research is highly interdisciplinary and covers a large variety of topics, such as economic growth and development up to and conflict economics. Nicola Dimitri is a professor of economics, former deputy rector and acting rector at the University of Siena, Italy. He has published widely in international journals and edited three books, including the 'Handbook of Procurement' (2006) for Cambridge University Press. His main interests are in game theory, AI and economics, and blockchain and cryptocurrencies.
Reviews
'Could AI be a game changer for economics and the economy? This is the main question that this book examines in depth. The authors have managed to keep the language accessible to various audiences without forgetting technical rigor. The analysis of AI, from both the consumer and producer sides, points out possible ways for humanity to take advantage of the new opportunities opened up by this new technology while avoiding its risks.' Tiago Neves Sequeira, Professor of Economics, University of Coimbra
'This book presents a very thorough discussion of the connections between artificial intelligence and the economy, with a refreshing forward-looking perspective. It covers fundamentals, important implications of digital technologies on societal aspects, innovation, and policy. I completely agree with the authors' statement '[big data] can better inform policy makers for a positive impact on their actions and citizens' well-being,' and strongly recommend this piece to help navigate a future enhanced by artificial intelligence.' Ricardo Vinuesa, Associate Professor at KTH Royal Institute of Technology
Book Information
ISBN 9781009483117
Author Wim Naude
Format Paperback
Page Count 378
Imprint Cambridge University Press
Publisher Cambridge University Press
Weight(grams) 546g
Dimensions(mm) 229mm * 152mm * 20mm
Provides essential economic tools to think about the impact of Artificial Intelligence on society, both over the short-and long term.
About the Author
Wim Naude is an economist, author, and entrepreneur. He has held appointments at Oxford University and the United Nations University (UNU) and has been a visiting faculty member at Brown University's Brown International Advanced Research Institutes. He has published widely in scientific journals, and has authored and edited books published by Palgrave Macmillan, Oxford University Press, and Routledge. He is ranked by Stanford University /Elsevier amongst the top 2 percent of scientists in the world. Thomas Gries studied economics at Goettingen and the University of California. He received his Ph.D. at Kiel University. He also was a visiting scholar at UNU World Institute for Development Economics Research in Helsinki. Currently he is Professor for International Growth at Paderborn University, Germany. His research is highly interdisciplinary and covers a large variety of topics, such as economic growth and development up to and conflict economics. Nicola Dimitri is a professor of economics, former deputy rector and acting rector at the University of Siena, Italy. He has published widely in international journals and edited three books, including the 'Handbook of Procurement' (2006) for Cambridge University Press. His main interests are in game theory, AI and economics, and blockchain and cryptocurrencies.
Reviews
'Could AI be a game changer for economics and the economy? This is the main question that this book examines in depth. The authors have managed to keep the language accessible to various audiences without forgetting technical rigor. The analysis of AI, from both the consumer and producer sides, points out possible ways for humanity to take advantage of the new opportunities opened up by this new technology while avoiding its risks.' Tiago Neves Sequeira, Professor of Economics, University of Coimbra
'This book presents a very thorough discussion of the connections between artificial intelligence and the economy, with a refreshing forward-looking perspective. It covers fundamentals, important implications of digital technologies on societal aspects, innovation, and policy. I completely agree with the authors' statement '[big data] can better inform policy makers for a positive impact on their actions and citizens' well-being,' and strongly recommend this piece to help navigate a future enhanced by artificial intelligence.' Ricardo Vinuesa, Associate Professor at KTH Royal Institute of Technology
Book Information
ISBN 9781009483117
Author Wim Naude
Format Paperback
Page Count 378
Imprint Cambridge University Press
Publisher Cambridge University Press
Weight(grams) 546g
Dimensions(mm) 229mm * 152mm * 20mm
