[논문]The Importance of Artificial Intelligence to Economic Growth

HE, Yugang

doi:10.24225/kjai.2019.7.1.17

The Importance of Artificial Intelligence to Economic Growth 원문보기

Korean Journal of Artificial Intelligence = 인공지능연구, v.7 no.1, 2019년, pp.17 - 22

HE, Yugang (Department of International Trade, Chonbuk National University)

Abstract ▼ AI-Helper

The rapid development of artificial intelligence technology has exerted a great influence on all fields of the world, which of course also affects the world economy. This has also aroused a large number of economists' interest in this proposition. Since the definition of artificial intelligence is not unified yet, the results from previous researches are not reliable enough. At present, most scholars use the neoclassical growth model or task-based model to explore the path of artificial intelligence on economic variables. There into, most of them use the degree of automation to represent the artificial intelligence. They find that the degree of automation can change the proportion of industries. This only verifies that artificial intelligence can affect the economic variables. But the magnitude of artificial intelligence on economic variables can not be correctly estimated. Therefore, in order to have a better understanding on the impact of artificial intelligence on economic growth, this paper systematically reviews and collates previous literature on this topic. The results of this paper indicate that both in theoretical and empirical studies, artificial intelligence has a positive effect on economic growth. Then, some suggestions and limitations have also been put forward accordingly.

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문제 정의

With the gradual change of artificial intelligence in all aspects of modern and future economy and society, Studying the impact of artificial intelligence on economic growth can help us better understand the positive and negative effects of artificial intelligence development so that we can design reasonable public policies to deal with the risks and challenges it may bring. Based on previous studies, this paper attempts to explore the impact of artificial intelligence on economic growth.
With the increasing convenience brought by artificial intelligence, a large number of literature have been published to explore the impact of artificial intelligence on economic growth. By using neoclassical growth model or task-based model, this paper explores the path of artificial intelligence on economic growth. Via a lot of theoretical and empirical literature analysis, the results of this paper indicate that artificial intelligence has a positive effect on economic growth.

제안 방법

On the basis of Task-based model, automation technology is introduced into this model and the number of tasks is assumed to be endogenous. One innovation of the model is that it proposes a unified framework in which tasks previously performed by the labor force can be automated. Meanwhile, new tasks with comparative advantages can be created.
Kromann, Skaksen and Sørensen (2011) make a hypothesis that automation increases productivity both in the short and in the long run. The empirical study is performed by using cross country, cross industry data on the use of industrial robots as a measure of automation. They find that automation has a significant positive impact on productivity in the short run and long run.

성능/효과

This report compares the economic growth rates of 16 industries and forecasts the impact of artificial intelligence on global economic growth in 2035. Taking gross added value as the approximate value of gross domestic products, this report finds that the higher the degree of integration of artificial intelligence in the process of economic development is, the greater the potential of economic growth will be. One noteworthy finding in the report is that by 2035, artificial intelligence is likely to increase the economic growth rate of all industries by an average of 1.

참고문헌 (11)

Acemoglu, D., & Restrepo, P. (2017). The Race Between Machine and Man: Implications of Technology for Growth, Factor Shares. and Employment. Working paper, MIT.
Acemoglu, D., & Restrepo, P. (2018). The race between man and machine: Implications of technology for growth, factor shares, and employment. American Economic Review, 108(6), 1488-1542.

상세보기
Aghion, P., Jones, B. F., & Jones, C. I. (2018). Artificial Intelligence and Economic Growth. In the Economics of Artificial Intelligence: An Agenda. University of Chicago Press. Retrieved May 22, 2019, from https://www.nber.org/chapters/c14015.
Brynjolfsson, E., & Hitt, L. (1995). Information technology as a factor of production: The role of differences among firms. Economics of Innovation and New technology, 3(3-4), 183-200.

상세보기
Dinlersoz, E., & Wolf, Z. (2018). Automation, Labor Share, and Productivity: Plant-Level Evidence from US Manufacturing (No. 18-39). Retrieved May 22, 2019, from https://ideas.repec.org/p/cen/wpaper/18-39.html.
Hanson, R. (2001). Economic growth given machine intelligence. Journal of Artificial intelligence Research. Retrieved May 22, 2019, from http://citeseerx.ist.psu.edu/viewdoc/summary?doi10.1.1.70.7007.
Hasan, I., Malkamaki, M., & Schmiedel, H. (2003). Technology, automation, and productivity of stock exchanges: International evidence. Journal of Banking & Finance, 27(9), 1743-1773.

상세보기
He, Y. (2018). A Study on the Impact of Artificial Intelligence Industry on Macroeconomy: Evidence from United States of America. The East Asian Journal of Business Management (EAJBM), 8(4), 37-44.

원문보기 상세보기
Kromann, L., Skaksen, J. R., & Sorensen, A. (2011). Automation, labor productivity and employment-a cross country comparison. CEBR, Copenhagen Business School. Retrieved May 22, 2019, from http://scholar.google.com.hk/scholar_url?urlhttp%3A%2F%2Fwww.academia.edu%2Fdownload%2F33058939%2Frobot-employment.pdf&hlzhCN&saT&oiggp&ctres&cd2&d10635549738491393232&eig3ICXbiPF8aryATO_aM4&scisigAAGBfm3C0HQbmzI6nEPphojKnwgAFdjgfQ&nossl1&ws1600x799&atAutomation%2C%20labor%20productivity%20and%20employment%E2%80%93a%20cross%20country%20comparison&bn1.
Solow, R. M. (1957). Technological Change and the Aggregate Production Function. Review of Economics and Statistics, 39(3), 312-320.

상세보기
Zeira, J. (1998). Workers, machines, and economic growth. The Quarterly Journal of Economics, 113(4), 1091-1117.

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