Artificial Intelligence The Ambiguous Labor Market Impact of Automating Prediction

Recent advances in artificial intelligence are primarily driven by machine learning, a prediction technology. Prediction is useful because it is an input into decision-making. In order to appreciate the impact of artificial intelligence on jobs, it is important to understand the relative roles of pr...

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Bibliographic Details
Published inThe Journal of economic perspectives Vol. 33; no. 2; pp. 31 - 50
Main Authors Agrawal, Ajay, Gans, Joshua S., Goldfarb, Avi
Format Journal Article
LanguageEnglish
Published Nashville American Economic Association 01.04.2019
Subjects
Ambiguity
Artificial intelligence
Automation
Automation and Employment
Decision making
Labor market
Technology
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Summary:Recent advances in artificial intelligence are primarily driven by machine learning, a prediction technology. Prediction is useful because it is an input into decision-making. In order to appreciate the impact of artificial intelligence on jobs, it is important to understand the relative roles of prediction and decision tasks. We describe and provide examples of how artificial intelligence will affect labor, emphasizing differences between when the automation of prediction leads to automating decisions versus enhancing decision-making by humans.
ISSN:0895-3309
1944-7965
DOI:10.1257/jep.33.2.31