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 effect tends to reduce the demand for labor and wages. But it is …