{"title":"Modelling artificial intelligence in economics","authors":"Tom Gries, W. Naudé","doi":"10.2139/ssrn.3803715","DOIUrl":null,"url":null,"abstract":"We provide a partial equilibrium model wherein AI provides abilities combined with human skills to provide an aggregate intermediate service good. We use the model to find that the extent of automation through AI will be greater if (a) the economy is relatively abundant in sophisticated programs and machine abilities compared to human skills; (b) the economy hosts a relatively large number of AI-providing firms and experts; and (c) the task-specific productivity of AI services is relatively high compared to the task-specific productivity of general labor and labor skills. We also illustrate that the contribution of AI to aggregate productive labor service depends not only on the amount of AI services available but on the endogenous number of automated tasks, the relative productivity of standard and IT-related labor, and the substitutability of tasks. These determinants also affect the income distribution between the two kinds of labor. We derive several empirical implications and identify possible future extensions.","PeriodicalId":45469,"journal":{"name":"Journal for Labour Market Research","volume":"3 1","pages":"1-13"},"PeriodicalIF":1.6000,"publicationDate":"2022-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal for Labour Market Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3803715","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"INDUSTRIAL RELATIONS & LABOR","Score":null,"Total":0}
引用次数: 3
Abstract
We provide a partial equilibrium model wherein AI provides abilities combined with human skills to provide an aggregate intermediate service good. We use the model to find that the extent of automation through AI will be greater if (a) the economy is relatively abundant in sophisticated programs and machine abilities compared to human skills; (b) the economy hosts a relatively large number of AI-providing firms and experts; and (c) the task-specific productivity of AI services is relatively high compared to the task-specific productivity of general labor and labor skills. We also illustrate that the contribution of AI to aggregate productive labor service depends not only on the amount of AI services available but on the endogenous number of automated tasks, the relative productivity of standard and IT-related labor, and the substitutability of tasks. These determinants also affect the income distribution between the two kinds of labor. We derive several empirical implications and identify possible future extensions.
期刊介绍：
The Journal for Labour Market Research is a journal in the interdisciplinary field of labour market research. As of 2016 the Journal publishes Open Access. The journal follows international research standards and strives for international visibility. With its empirical and multidisciplinary orientation, the journal publishes papers in English language concerning the labour market, employment, education / training and careers. Papers dealing with country-specific labour market aspects are suitable if they adopt an innovative approach and address a topic of interest to a wider international audience. The journal is distinct from most others in the field, as it provides a platform for contributions from a broad range of academic disciplines. The editors encourage replication studies, as well as studies based on international comparisons. Accordingly, authors are expected to make their empirical data available to readers who might wish to replicate a published work on request. Submitted papers, who have passed a prescreening process by the editors, are generally reviewed by two peer reviewers, who remain anonymous for the author. In addition to the regular issues, special issues covering selected topics are published at least once a year. As of April 2015 the Journal for Labour Market Research has a "No Revisions" option for submissions (see ‘Instructions for Authors’).
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