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Full Description
This prescient book examines the implications of artificial intelligence (AI) for economic theory and policy. Using actual and simulated data to assess the costs and benefits of AI, Imad A. Moosa outlines its potential threats and recommends ways that mankind can deal with its ramifications.
Moosa discusses regulations and corrective policies, illustrating the technological foundations and evolution of AI. Chapters challenge the view that AI is benign, demonstrating the macroeconomic effects of its usage on wages and income distribution. Exploring the geopolitics of AI, Moosa identifies the existential threat it poses to neoliberal capitalism, arguing that more jobs will be lost as a result of AI than will be created.
The Economics of Artificial Intelligence will greatly benefit students and academics of applied economics, disruptive technology and industry innovation. Its approach to business and sectoral principles will also be essential for politicians, policymakers and practitioners in technology and innovation.
Contents
Contents
Preface
1 Artificial Intelligence: Definition, Origin and Evolution
2 Technological Foundations of AI
3 The Business and Sectoral Effects of AI
4 The Macroeconomic Effects of AI
5 Realisable Benefits, Perceived Benefits and Adverse
Consequences
6 Regulation and Corrective Policies
7 The Role of AI in Economic Theory and Policy
8 Further Thoughts and Closing Remarks
References
