book chapterJan 1, 2019Closed access

Artificial Intelligence, Automation, and Work

DADaron AcemoğluPRPascual Restrepo
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Abstract

We summarize a framework for the study of the implications of automation and AI on the demand for labor, wages, and employment.Our task-based framework emphasizes the displacement effect that automation creates as machines and AI replace labor in tasks that it used to perform.This displacement effect tends to reduce the demand for labor and wages.But it is counteracted by a productivity effect, resulting from the cost savings generated by automation, which increase the demand for labor in non-automated tasks.The productivity effect is complemented by additional capital accumulation and the deepening of automation (improvements of existing machinery), both of which further increase the demand for labor.These…

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Topics & keywords

Topics
Keywords
  • Automation
  • Work (physics)
  • Computer science
  • Artificial intelligence
  • Manufacturing engineering
  • Engineering
  • Mechanical engineering
UN Sustainable Development Goals
  • Decent work and economic growth
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