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The wrong kind of AI? : artificial intelligence and the future of labor demand

Acemoglu, Daron; Restrepo, Pascual - 2019

Artificial Intelligence is set to influence every aspect of our lives, not least the way production is organized. AI, as a technology platform, can automate tasks previously performed by labor or create new tasks and activities in which humans can be productively employed. Recent technological...

Persistent link: https://www.econbiz.de/10012001438

Competing engines of growth : innovation and standardization

Acemoglu, Daron; Gancia, Gino Alessandro; Zilibotti, … - 2010

"We study a dynamic general equilibrium model where innovation takes the form of the introduction new goods, whose … production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are … substitution between goods and other parameters. Third, we show that the interplay between innovation and standardization may lead …

Persistent link: https://www.econbiz.de/10003960396

The race between machine and man : implications of technology for growth, factor shares and employment

Acemoglu, Daron; Restrepo, Pascual - 2016

We examine the concerns that new technologies will render labor redundant in a framework in which tasks previously performed by labor can be automated and new versions of existing tasks, in which labor has a comparative advantage, can be created. In a static version where capital is fixed and...

Persistent link: https://www.econbiz.de/10011573063

Secular stagnation? : the effect of aging on economic growth in the age of automation

Acemoglu, Daron; Restrepo, Pascual - 2017

Several recent theories emphasize the negative effects of an aging population on economic growth, either because of the lower labor force participation and productivity of older workers or because aging will create an excess of savings over desired investment, leading to secular stagnation. We...

Persistent link: https://www.econbiz.de/10011689142

Robots and jobs : evidence from U.S. labor markets

Acemoglu, Daron; Restrepo, Pascual - 2017

As robots and other computer-assisted technologies take over tasks previously performed by labor, there is increasing concern about the future of jobs and wages. We analyze the effect of the increase in industrial robot usage between 1990 and 2007 on US local labor markets. Using a model in...

Persistent link: https://www.econbiz.de/10011689323

Automation and new tasks : how technology displaces and reinstates labor

Acemoglu, Daron; Restrepo, Pascual - 2019

We present a framework for understanding the effects of automation and other types of technological changes on labor demand, and use it to interpret changes in US employment over the recent past. At the center of our framework is the allocation of tasks to capital and labor - the task content of...

Persistent link: https://www.econbiz.de/10012001461

Low-skill and high-skill automation

Acemoglu, Daron; Restrepo, Pascual - 2017

We present a task-based model in which high- and low-skill workers compete against machines in the production of tasks. Low-skill (high-skill) automation corresponds to tasks performed by low-skill (high-skill) labor being taken over by capital. Automation displaces the type of labor it directly...

Persistent link: https://www.econbiz.de/10011786882

Artificial intelligence, automation and work

Acemoglu, Daron; Restrepo, Pascual - 2017 - Rev: Jan 4, 2018

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...

Persistent link: https://www.econbiz.de/10011786893

Modeling automation

Acemoglu, Daron; Restrepo, Pascual - 2018

This paper points out that modeling automation as factor-augmenting technological change has several unappealing implications. Instead, modeling it as the process of machines replacing tasks previously performed by labor is both descriptively realistic and leads to distinct and empirically...

Persistent link: https://www.econbiz.de/10011797210

Demographics and automation

Acemoglu, Daron; Restrepo, Pascual - 2018

We argue theoretically and document empirically that aging leads to greater (industrial) automation, and in particular, to more intensive use and development of robots. Using US data, we document that robots substitute for middle-aged workers (those between the ages of (36 and 55). We then show...

Persistent link: https://www.econbiz.de/10011820230