The Economics of Artificial Intelligence PDF Download

Author: Ajay Agrawal
Publisher: University of Chicago Press
ISBN: 0226833127
Category : Business & Economics
Languages : en
Pages : 172

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Book Description
A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.

Author: OECD
Publisher: OECD Publishing
ISBN: 9264545190
Category :
Languages : en
Pages : 152

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Book Description
The artificial intelligence (AI) landscape has evolved significantly from 1950 when Alan Turing first posed the question of whether machines can think. Today, AI is transforming societies and economies. It promises to generate productivity gains, improve well-being and help address global challenges, such as climate change, resource scarcity and health crises.

Author: Johnny Ch Lok
Publisher: Independently Published
ISBN: 9781790333752
Category :
Languages : en
Pages : 296

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Book Description
Part Two(AI) technology can raise employee service performance Chapter OneWhat is the relationship between (AI) robotic service behavior and improving service performance behaviorHow and why (AI) technology can be applied to service industry? I shall explain how (AI) technology can encourage consumption behaviors when it is applied to service industry as below. I shall apply behavioral economic theory to (AI) technology to indiate how it can enourage consumption when it is applied to service industry. At the core of behavioral economics is used psychology of economics analysis to improve economics on its own terms generating theoretical insights, making better prediction of field consumption of behavioral phenomena, and suggesting better policy to any company or government decision makers. It rejects economic theories based on utility maximization, equilibrium and efficiency. It is useful because it provides economists with a theoretical framework that can be applied to almost any form of economic ( and even non-economic) behavior to predict behavioral consumption more easily to businessmen. So, behavioral economy is different to general economy concept, it applies psychological methods to attempt to predict consumption behavior.Simpifying much assumption that are not central to the economic theory to apply to psychological behavior. Other assumption simply acknowledge human limits on computational power and self-interest. These assumptions can be considered procedurally rational because human needs to solve problems that are often so complex that who can't be solved exactly by even modern computer technology. So, if businessmen apply psychological method to predict behavioral consumption to earn the more benefits or profit, it is more reasonable to compare to apply computer methods to predict consumption behavior.Theories in behavioral economics should be judged by reality, generality and tractability concepts to apply why we ( consumers) do our behavior ( consumption of choices) from psychological analysis. We share the positivist view that the ultimate test of a theory is the accuracy of its predictions. But we also believe that better predictions are likely to result from theories with more realistic assumptions. In psychology, such as connectionist models that capture some of the essential features of neural functioning, which are based on utility maximization, yet are reaching the point where they are able to predict many judgemental and behavioral phenomena. Contrary to the positivistic view, however, businessmen ought believe that predictions of consumers' feelings ( e.g., of subjective well-being) should be an important goal to earn more profit more easily.Most of the ideas in behavioral economics are not new. When economics first became identified as a distinct field of study, psychology didn't exist as a discipline to apply to economy subject. For example, "invisible hand" and "the wealth of Nations" which belong to theory to moral sentiments, which laid out psychological principles of individual behavior that are arguably as profound as whose economic observations. Another example, such as a simple model of social utility means that one ( consumer) or person's utility was affected by another person's, such as whose family or friends' influence why to choose to buy this product or use this service in consumption market. Nowadays, economists hoped their discipline could be like a natural science to apply psychological methods to predict behavioral consumption to assist businessmen to earn more economic benefit or to reduce cost or profit to win whose competitors. But psychology was not very scientific. However, later economists are very much appealed to psychological insights to attempt to assist businessmen how to predict consumers how who will prefer to choose to consume to buy this product or use this service.

Author: Johnny Ch Lok
Publisher:
ISBN: 9781674370118
Category :
Languages : en
Pages : 94

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Book Description
Technological progress is main driver of growth of GDP per capita, allowing output to increase faster than labor and capital . However, technology can increase productivity, but also decrease the number of labor hours needed to create a unit of output. So (AI) causes unequal to labor wage decreases, even reduces the number of labor to manufacture, e.g. artificial intelligence technology of automation car manufacturing industry; clothing manufacturing industry; plane manufacturing etc. high technology of artificial intelligence manufacturing method. But (AI) should be potential environment benefit, although it raises unemployment ratio. Moreover, it can rise production, due to many skilled craft were replaced by the combination of machines and lower-skilled labor. The result of (AI) technology introduction, it causes output per hour risen when inequality declined, driving up average living standards, but the labor of some high-skill workers was no longer as valuable in the market. Otherwise, if (AI) technology is continue developed to be success. Some routine intensive occupations will be loss, which focused on predictable, e.g. easily programmable tasks, such as switchboard operators, filing clerks, travel agents, and assembly line workers would be particularly replaced by new (AI) technology. However, at the same time, (AI) technology development will bring these benefits: improvement in education ( training (AI) technology scientists), due to (AI) manufacturing technology needs are raising to businesses and institutional changes, such as the reduction in unionization and raising in the minimum wage to the (AI) manufacturing technology skilled labor in factories.Because (AI) technology is not a single technology, but rather a collection of technologies that are applied to specific tasks, the effects of (AI) will be felt unevenly though the economy. It will bring some tasks will be most easily automated than others, and some jobs will be affected more than others, both negatively and positively. Finally, new jobs are likely to be directly created in areas, such as the development and supervision of (AI) as well as indirectly created in a range areas though out the economy as higher incomes lead to expanded demand.However, if (AI) technology could dominate global labor markets. If labor productivity increases, do not influence to wage increases, then the large economic gains brought about by (AI) technology could be increased wealth inequality, due to employers can reduce production cost, but workers ( labors) wages will not be increased, even will be decreased. Hence, it seems the (AI) technology will bring disadvantages to labor market to cause unemployment or reduce wages in possible, although it can reduce employer individual salary (wage) expenditure and it can raise productivity.⦁How can artificial intelligence impact global economy growth?Artificial intelligence (AI) technology is a branch of computer science that aims to create intelligent machines that work and react like humans. So, (AI) is a technology that appears to impact ( influence) human preference by learning, understanding complex contents, enhancing humans in executing both routine and non-routine tasks. In the future, (AI) technology that can be virtual personal assistant, as well as it may exist, such as robots with human-like processing capabilities

Author: Johnny Ch Lok
Publisher: Independently Published
ISBN: 9781792128806
Category :
Languages : en
Pages : 296

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Book Description
Why will (AI) technologic knowledgeable robotic workers be raised productivity ?Future, (AI) robotic workers can assist knowledge labors to raise productivity from internet channel. Social science can explain knowledgeable jobs will be useful and popular and assisting labors to raise productivity to work at home online working environments. Within social science, in such discipline is sociology and human psychology and geography which indicates internet technology have changed to online working place environment, sense of working place, online employee role identity, everyday online work and life style, website global working communication and email online communication working interconnections. It seems internet brings access to social, economic and political resources to effect change to both individual and social working conditions, such as employers accept to attempt to use internet to assist office staffs to work at home, e.g. many book publishing businesses like to attempt to publish electronic books from online book store, instead of book shops channel to sell paper books. So these online book stores give chance to authors to publish electronic books or online paper books from online sale channel to earn loyalty income. For example, Amazon online electronic bookstore can publish electronic books and online paper books to sell all one day 24 hours to any countries' readers from its website, so when any countries' readers can enter its website to choose any different kind of subjects of electronic books to buy by visa card conveniently. Such as fiction, psychology, economy, science, law, architecture, medicine, commerce, management etc. subjects. So, any country's reader who does not need to buy air tickets to go to the country's book shop to buy the paper book, who only needs to pay visa card to buy the electronic or online paper books from Amazon publishing's website to buy any countries' electronic and paper books and then the overseas reader can choose either to download it from whose home computer or pays more price to deliver the online paper book to post to whose country conveniently. Hence, this online bookstore sale method will be popular and many free work authors will choose to work to raise the productivity of more quality electronic books numbers from this internet channel. However, the consequences of global change are far from uniform with globalizing influences and adapted as new technological, economic and online working cultural experiences are incorporated by any countries' staffs of any cities, towns and rural areas into their everyday work lives from long distance easily. Since one company can employ different countries' staffs to work from internet working channel at their homes. For example, a America company can employ overseas countries' staffs to work at the same time together by sending job duties from email communication channel among them when the America company has any job arrangement to notify to any staff to finish it any time, then the overseas staff finish the job and who can send whose finished documents to whose America employer any time. It seems the overseas staffs whose working hours can be flexible and those working hours have no regular office working hours to be fixed time table, so they do not need to work in any fixed working time table every working days, who can send their finished office documents to whose employers after who have finished their documents by either email communication channel or office online website downloads office download any time conveniently.

Author: El Bachir Boukherouaa
Publisher: International Monetary Fund
ISBN: 1589063953
Category : Business & Economics
Languages : en
Pages : 35

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Book Description
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Author: Johnny Ch Lok
Publisher:
ISBN:
Category :
Languages : en
Pages : 92

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Book Description
How (AI) technology impacts on labor workplace.The future influence any organizations how labor economies use of (AI) can be analyzed, such as deep machine learning is based on a set of model high level data. Unlike human workers, the machines are connected the whole time in workplace. If one machine makes a mistake, all autonomous systems will keep this in mind and will avoid the same mistake the next time. Over the long run intelligent machines will win against every human expert. Production robots have been replacing employees because of the (AI) technology. They work more precisely than humans and cost loss. Creative solutions like 3D printers and the self learning ability of these production robots will replace human workers, the automatic data recording and data processing, traditional back office activities are no longer in demand. Autonomous software will collect necessary information and will send it to the employee who needs it. Additionally, dematerialization leads to the phenomenon that traditional physical products are becoming software. For example, CD or DVDs are being replaced by streaming services. The replacement of traditional event ticket, e-travel ticket service products or hard cash will be the next step, due to the possibility of payment by smartphone. So, (AI) technology will impact human's daily life consumption behaviors in the future. For another example, transportation tools, such as boats and ferries and private vehicles will use sensors and navigating without human input. Taxi and truck drivers will become obsolete, the stock store applies to stock managers and postal carriers of the delivery is distributed by (AI) machine delivery method.

Author: Johnny Ch Lok
Publisher: Independently Published
ISBN: 9781799170785
Category : Business & Economics
Languages : en
Pages : 400

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Book Description
(AI) digital data gather technology predicts food consumer behavior's main barriersWhat are the main barriers to food industry? When the food manufacturer applies (AI) big data gather technology to predict food consumer behavior? The barriers include that the food manufacturer / provider needs to decide whether when the right time is applied to the right (AI) digital big data prediction tool channel to find the right food consumers to be chose to full food consumption satisfactory questionnaires, how to gather multi-class food consumption classifiers on real-world food consumers transactional data from the food sale domain consistently to show the critical numbers of different kinds of food items at which the predictive performance most accurate? So, any food manufacturer / provider's advanced in (AI) digital data gather warehousing and management technologies can provide that opportunities for food business to enhance long term relationship with the food providers' clients. However, food industry's (AI) digital data gather aims to improve food customer product targeting, increase food customer loyalty and food purchase probability to the food supplier. To effective identify, understand and satisfy the needs of their food customers, the food suppliers need to develop the right (AI) digital questionnaire questions and find the right food customers to fill every right questions from every digital questionnaire at the right time through the right channel. Above of all these, they will be the barriers when one food supplier expects its (AI) digital data gather questionnaires which can conclude the most accurate prediction concerns any kinds of consumer food product choices. So, such as (AI) digital data prediction model, it is needed to incorporate into the food market segmentation, food customer targeting, and food challenging decisions with the goal of maximizing the total food customer lifetime. For example, (AI) big data gather transaction data is reasonable and accurate for building predictive models. Transaction data can be electronically collected and readily made available for data mining in lot quantity at minimum extra costs.Suggestion to apply (AI) prototypes of food customer profiles method to predict food customer behavioral changes. Prototypes of food customer profiles mean to be extracted from the discovered bins and multi-class classifies models are built using those prototypes. The learned models can than be used to predict the class of food customer profiles ( e.g. restaurants, school canteens, supermarkets etc. food suppliers) based on their food purchases. The approach is validated on the case study of a food retail and food service company operating in food and beverages market.

Author: Johnny Ch Lok
Publisher: Independently Published
ISBN: 9781794222724
Category : Business & Economics
Languages : en
Pages : 92

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Book Description
How can (AI) influence labor market?⦁How can human society job nature to be changed to artificial intelligent society? From the first intelligent perspective reason view point, artificial intelligence is making machines " intelligent" acting as humans expect people to act. Artificial intelligence has ability to distinguish computer responses from human responses, it owns knowledge to solve expert problem. From another research perspective reason view point, artificial intelligence is the study of how to make computers do things which, at the moment, people do better ( Rich & Knight, 1991, p.3).(AI) researchers are native in a variety of domains, e.g. formal tasks ( mathematics, games), tasks ( perception, robotics, natural language, common sense reasoning), expert tasks ( financial analysis, medical diagnostics, engineering, scientific analysis and other areas). From the second business perspective reason view point, (AI) is a set of many powerful tools, and methodologies for using those tools to solve business problems. From a programming perspective reason view point, (AI) includes the study of symbolic programming problem solving and search . From the third human technological perspective reason view point, today's computer can do many well-defined tasks, for example, arithmetic operations, are much faster and more accurate than human beings. However, the computers' interaction with their environment is not very sophisticated yet. How can human test whether a computer has reached the general intelligence level of a human being? Can a computer convince a human interrogator that it is a human? But before thinking of such advanced kinds of machines, human will start developing our own extremely simple " intelligent" machines. So, it is possible that human society job efficiency and performance and productivity will to be changed better, due to artificial intelligent robots are applied to assist human to do anything when (AI) technology is developed to the mature stage in the future.⦁Why does human need artificial intelligence machines?

Author: Johnny Ch Lok
Publisher:
ISBN: 9781080882748
Category :
Languages : en
Pages : 102

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Book Description
How and why (AI) technology can be applied to service industry, instead of manufacturing industry? I shall explain how (AI) technology can encourage consumption behaviors when it is applied to service industry as below. I shall apply behavioral economic theory to (AI) technology to indiate how it can enourage consumption when it is applied to service industry. At the core of behavioral economics is used psychology of economics analysis to improve economics on its own terms generating theoretical insights, making better prediction of field consumption of behavioral phenomena, and suggesting better policy to any company or government decision makers. It rejects economic theories based on utility maximization, equilibrium and efficiency. It is useful because it provides economists with a theoretical framework that can be applied to almost any form of economic ( and even non-economic) behavior to predict behavioral consumption more easily to businessmen. So, behavioral economy is different to general economy concept, it applies psychological methods to attempt to predict consumption behavior.Simpifying much assumption that are not central to the economic theory to apply to psychological behavior. Other assumption simply acknowledge human limits on computational power and self-interest. These assumptions can be considered procedurally rational because human needs to solve problems that are often so complex that who can't be solved exactly by even modern computer technology. So, if businessmen apply psychological method to predict behavioral consumption to earn the more benefits or profit, it is more reasonable to compare to apply computer methods to predict consumption behavior.