Tuesday , October 22 2019
Home / Tag Archives: artificial intelligence

Tag Archives: artificial intelligence

Jobs and robots: Europe’s Debate Over the Destiny of the Welfare State

This blog is part of a series following the 2019 Bruegel annual meetings, which brought together nearly 1,000 participants for two days of policy debate and discussion.Artificial intelligence, big data, machine learning, and the internet of things are bringing huge transformative changes in society. The questions that have been increasingly on the table are what these changes imply for the future of work, and what they imply for the future of European welfare states. A 2013 study by Frey and...

Read More »

Backstage at BAM19: AI, robots and platform workers

Backstage at the Bruegel Annual Meetings, Giuseppe Porcaro talks with J. Scott Marcus on AI, robots and platform workers. By: The Sound of Economics Date: September 4, 2019 Topic: Innovation & Competition Policy Will increasing use of AI, machine learning, robots and big data lead to massive unemployment? How are non-traditional workers and the self-employed to obtain health insurance and pensions? What role should public policy play going forward? In this podcast, Giuseppe...

Read More »

Liability: When Things Go Wrong in an Increasingly Interconnected and Autonomous World: A European View

In the following article, Scott Marcus first considers the sources of potential defects and what might be done to redress them. He then goes on to consider what constitutes a product defect as well as the associated liability in light of recent (and potential future) EU Directives. The Internet of Things (IoT) potentially offers society not only economic advantage but also gains in product quality and safety. At the same time, IoT (in conjunction with related technologies such as...

Read More »

Machine learning and economics

Machine learning (ML), together with artificial intelligence (AI), is a hot topic. Economists have been looking into machine learning applications not only to obtain better prediction, but also for policy targeting. We review some of the contributions. Writing on PWC blog last year, Hugh Dance and John Hawksworth discussed what machine learning (ML) could do for economics in the future. One aspect is that of prediction vs causal inference. Standard econometric models are well suited to...

Read More »

The impact of artificial intelligence on employment

Technological development, and in particular digitalisation, has major implications for labour markets. Assessing its impact will be crucial for developing policies that promote efficient labour markets for the benefit of workers, employers and societies as a whole. By: Georgios Petropoulos Date: July 31, 2018 Topic: Innovation & Competition Policy This contribution is a chapter of the book Work in the Digital Age,...

Read More »

Are European firms falling behind in the global corporate research race?

The author looks at how concentrated corporate R&D is in Europe, compared with sales and employment. The US and China are more likely to produce new R&D leaders that take over some of the top positions from incumbent R&D leaders. How is the EU coping with technology shifts and creating the next generation of new leading firms? By: Reinhilde Veugelers Date: April 12, 2018 Topic: Innovation & Competition Policy...

Read More »

The growing presence of robots in EU industries

While it is always tempting to try to predict future patterns in the automation of European industries, it is also insightful to assess key dimensions of their robotisation so far, starting from the pre-AI era. This article presents evidence on the use of industrial robots by European industries from 1993 and onwards. By: Georgios Petropoulos Date: December 20, 2017 Topic: European Macroeconomics & Governance The author is...

Read More »

The Bitcoin Bubble

The price of bitcoin has just passed $11,000. A year ago it was worth less than $800. Economists and commentators are thus increasingly concerned that this may be a bubble waiting to burst. We review recent opinions on the topic. The price of Bitcoin has reached and passed $11,000, from $800 just one year ago (Figure 1). The Economist’s Buttonwood’s notebook thinks that while the stock market has been trading at high valuations for some time, there is nothing like the excitement about...

Read More »

Do we understand the impact of artificial intelligence on employment?

Artificial intelligence is already transforming the world of work, but the future is hard to predict. Some see most jobs at risk of automatisation, while others argue robots will only take on a narrow range of tasks in the coming decades. Nevertheless, we need a broad debate to prepare the appropriate economic policy response to the new industrial revolution. In my previous blog on artificial intelligence (AI), I dealt with the general characteristics of AI and machine learning....

Read More »

Machines that learn to do, and do to learn: What is artificial intelligence?

Artificial intelligence is much talked about, but what exactly is it? Georgios Petropoulos explores the origins, methods and potential of machine learning. Artificial intelligence (AI) refers to intelligence exhibited by machines. It lies at the intersection of big data, machine learning and computer programming. Computer programming contributes the necessary design and operational framework. It can make machines capable of carrying out a complex series of computations automatically....

Read More »