THE ECONOMIC IMPACT OF AUTOMATION AND ARTIFICIAL INTELLIGENCE
Keywords:
Automation, Artificial Intelligence, Economic Impact, Labor MarketAbstract
This article explores the profound economic implications of automation and artificial intelligence (AI) on various sectors and labor markets. As advancements in technology continue to accelerate, automation and AI are reshaping the workforce, leading to both opportunities and challenges. The article examines the impact of these technologies on job displacement, productivity, income distribution, and overall economic growth. It also delves into policy considerations and strategies to mitigate potential negative consequences while maximizing the benefits of automation and AI in fostering sustainable economic development
References
Acemoglu, D., & Restrepo, P. (2018). Artificial intelligence, automation, and work. In The economics of artificial intelligence: An agenda (pp. 197-236). University of Chicago Press.
Intelligence, A., 2016. Automation, and the Economy. Executive office of the President, pp.18-19.
Bolton, Charlynne, Veronika Machová, Maria Kovacova, and Katarina Valaskova. "The power of human–machine collaboration: Artificial intelligence, business automation, and the smart economy." Economics, Management, and Financial Markets 13, no. 4 (2018): 51-56.
Tschang, F.T. and Almirall, E., 2021. Artificial intelligence as augmenting automation: Implications for employment. Academy of Management Perspectives, 35(4), pp.642-659.
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