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Tag Archives: Innovation & Competition Policy

The EU’s plan to catch up on artificial intelligence

While the US and China have been setting the pace when it comes to Artificial Intelligence, the European Union seems to be lagging behind. What are the Commission's plans to finally catch up? Will AI increase the gap between big and small companies? This week, Nicholas Barrett is joined by Julia Anderson and Guntram Wolff to discuss the EU's plan for AI. By: The Sound of Economics Date: February 14, 2020 Topic: Innovation & Competition Policy

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The dynamics of data accumulation

The bigger you are, the more data you can harvest. But does data accumulation necessarily breed monopolies in AI and related machine learning markets? By: Julia Anderson Date: February 11, 2020 Topic: Innovation & Competition Policy Each new sunrise increases the certainty that the sun will rise tomorrow. The more we know about the past, the better we can predict the future. The same holds true in important AI and related machine learning (ML) applications, where great volumes...

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Industrial revolutions might not be as fun as they look

AI promises a new industrial revolution but history warns us that industrial revolutions aren't always that fun for people in the eye of the storm. This week, Nicholas Barrett and Maria Demertzis spoke with Dr. Carl Frey, author of the book "The technology trap: capital, labor, and power in the age of automation", and Robert D. Atkinson, President of Information Technology and Innovation Foundation (ITIF), about how artificial intelligence will affect the job market. By: The Sound of...

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Europe’s banking union must be cyberproofed

The EU urgently needs to conduct joint preparedness exercises and create uniform information and disclosure requirements that help build a true pan-European insurance market for cyber risks By: Guntram B. Wolff Date: January 30, 2020 Topic: Finance & Financial Regulation When European leaders, back in 2012, embarked on an ambitious plan to create a truly pan-continental financial system, they overlooked one important detail: how to protect it from cyberattacks.Banks have...

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Do AI markets create competition policy concerns?

AI markets are young and their structure is yet to crystallise. Is European competition law ready for what happens next?As the EU Executive Vice President for a Europe Fit for the Digital Age and Competition Commissioner, Margrethe Vestager holds both an industrial and a competition policy mandate. This dual mandate provides complementary, and potentially conflicting, instruments to support and restrain artificial intelligence (AI) in Europe.[1] This article, the first in a series about AI,...

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AI in Europe: a conversation with Google’s CEO

It seems almost inevitable that Google will be big part of Europe's future. And Europe will be a huge part of Google's too. This week, Alphabet, Google's parent company, hit $1 trillion market cap for the first time. Can Google's AI be socially beneficial? Are big tech companies intrinsically bad? This week, Guntram Wolff talked to Google and Alphabet's CEO, Sundar Pichai. By: The Sound of Economics Date: January 20, 2020 Topic: Innovation & Competition Policy

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Could the U.S. economy be experiencing a hidden tech-driven productivity revolution?

In the last decade, most advanced economies have grown more slowly than before. Slower growth has frequently been seen as a legacy of financial crises, especially that of 2007–2009.In the last decade, most advanced economies have grown more slowly than before. In Japan, a slowdown began in the 1990s. Slower growth has frequently been seen as a legacy of financial crises, especially that of 2007–2009. Indeed, shocks generated by that crisis in particular include a far reaching financial...

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AI and the Productivity Paradox

In this blog post, I review the main explanations for this paradox and I briefly discuss relevant policy options in order to increase the contribution of AI on productivity By: Georgios Petropoulos Date: December 24, 2019 Topic: Innovation & Competition Policy Our economy is undergoing tremendous digitalisation through numerous new information technology systems that are based on artificial intelligence and machine learning. While these new technologies bring big efficiency...

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Bridging the divide: new evidence about firms and digitalisation

Small European firms are falling behind in the race to digitalise, but so are their American counterparts. By: Reinhilde Veugelers Date: December 11, 2019 Topic: Innovation & Competition Policy Using new evidence on the digitalisation activities of firms in the European Union and the United States, we document a trend towards digital polarisation based on firms’ use of the latest digital technologies and their plans for future investment in digitalisation. A substantial share of...

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Ethics and Algorithms

Will the EU's regulations undermine its power of innovation? How can the EU protect its values while harnessing technology? These are some of the questions we discuss with Brent Mittlestadt, from the University of Oxford, and Andre Loesekrug-Pietri, from the Joint European Disruptive Initiative, in our new Sound of Economics podcast. By: The Sound of Economics Date: November 20, 2019 Topic: Innovation & Competition Policy

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