AI & Economics
aieconomics.bsky.social
AI & Economics
@aieconomics.bsky.social
Understanding AI and the economy

#AI #BigData #DigitalTransformation #DataScience #econsky
LLMs are expected to have a broadly positive effect on labor productivity, with the most significant impact observed among workers in the middle-to-upper segments of the wage distribution www.science.org/doi/10.1126/...
GPTs are GPTs: Labor market impact potential of LLMs
Research is needed to estimate how jobs may be affected
www.science.org
January 8, 2025 at 5:33 AM
What makes a new technology a General Purpose Technology? Pervasiveness, Technological dynamism, Co-invention and complementarity, Broad impact... What else?

Evidence from the 3rd & 4th Industrial Revolution (ICT vs AI)

www.sciencedirect.com/science/arti...

www.sciencedirect.com/science/arti...
Mapping general purpose technologies with patent data
This article develops a three-dimension indicator to capture the main features of General Purpose Technologies (GPTs) in patent data. Technologies are…
www.sciencedirect.com
November 28, 2024 at 11:01 AM
Reposted by AI & Economics
OpenAI’s text-to-video AI tool Sora leaked in protest by artists

www.ft.com/content/5281...
OpenAI’s text-to-video AI tool Sora leaked in protest by artists
People testing new model accuse company of ‘artwashing’
www.ft.com
November 27, 2024 at 9:19 AM
AI, Micro- and Macroeconomics: Is AI a new General Purpose Technology? Some insights from a production function perspective

www.oecd-ilibrary.org/science-and-...
The impact of Artificial Intelligence on productivity, distribution and growth
This paper explores the economics of Artificial Intelligence (AI), focusing on its potential as a new General-Purpose Technology that can significantly influence economic productivity and societal wel...
www.oecd-ilibrary.org
November 27, 2024 at 5:27 AM
AI and Microeconomics: Proximity to AI research hubs positively affects adoption of AI and hiring of AI experts (computer and mathematical researchers, developers of software applications)

cepr.org/publications...
DP19537 Is Distance from Innovation a Barrier to the Adoption of Artificial Intelligence?
Using our own data on Artificial Intelligence publications merged with Burning Glass vacancy data for 2007-2019, we investigate whether online vacancies for jobs requiring AI skills grow more slowly in U.S. locations farther from pre-2007 AI innovation hotspots. We find that a commuting zone which is an additional 200km (125 miles) from the closest AI hotspot has 17% lower growth in AI jobs' share of vacancies. This is driven by distance from AI papers rather than AI patents. Distance reduces growth in AI research jobs as well as in jobs adapting AI to new industries, as evidenced by strong effects for computer and mathematical researchers, developers of software applications, and the finance and insurance industry. 20% of the effect is explained by the presence of state borders between some commuting zones and their closest hotspot. This could reflect state borders impeding migration and thus flows of tacit knowledge. Distance does not capture difficulty of in-person or remote collaboration nor knowledge and personnel flows within multi-establishment firms hiring in computer occupations.
cepr.org
November 26, 2024 at 6:40 AM
AI and Microeconomics: AI tools (GitHub Copilot) shown to reduce software developers' processing time by over 50% in controlled experiments.

arxiv.org/pdf/2302.06590
arxiv.org
November 25, 2024 at 6:22 AM
AI and Macroeconomics: What's the effect of AI on economic growth? AI is projected to contribute approximately 0.7% to TFP growth and a cumulative 1.1% increase in GDP growth over the next decade

economics.mit.edu/sites/defaul...
economics.mit.edu
November 24, 2024 at 6:52 PM
What AI and new digital technologies can do for stagnation? Here is some evidence for Latin America

#IMF #AI #econsky

www.imf.org/en/Publicati...
What Can Artificial Intelligence Do for Stagnant Productivity in Latin America and the Caribbean?
Since 1980, income levels in Latin America and the Caribbean (LAC) have shown no convergence with those in the US, in stark contrast to emerging Asia and emerging Europe, which have seen rapid converg...
www.imf.org
November 24, 2024 at 9:19 AM