This paper provides a summary of the latest advancements in generative artificial intelligence using large language models over the past six months. The impact of this breakthrough remains uncertain, but it is evident that GPT is a General-Purpose Technology (GPT) that will significantly alter...

Timely and accurate measurement of AI use by firms is both challenging and crucial for understanding the impacts of AI on the U.S. economy. We provide new, real-time estimates of current and expected future use of AI for business purposes based on the Business Trends and Outlook Survey for...

This paper is concerned with measuring and influencing the direction of technological change. First, it provides a comprehensive assessment of the factor bias of technological change using panel data from the World Input-Output Database (WIOD) for 25 EU countries from 1995 to 2009. We measure...

New digital technologies are currently becoming one of the main sources of building a competitive advantage for enterprises. The Internet of Things and big data are opening the previously unknown possibilities for optimising production processes and improving the productivity. The speed, nature...

It is a triumph of technology and of economics that our computer chips are so universal. Countless applications are only possible because of the staggering variety of calculations that modern chips can compute. But, this was not always the case. Computers used to be specialized, doing only...

COVID-19’s affliction has spared none regardless of country, economy, rich or poor, child or old age, salaried or entrepreneur, celebrity or common man, actor or politician, Policeman or thief, Teacher or student, Doctor or Patient. With the nature of high transmissibility and absence of...

The recent global explosion in Internet usage has enhanced worker productivity and the availability of information to remote and economically disadvantaged population segments unimagined just decades ago. Continued increases in computer processing speeds when combined with decreased production...

There has been a great deal of speculation that machine learning might be a general purpose technology. Many other emerging technologies receive similar speculation. However, general purpose technologies are typically identified with the benefit of many years of hindsight. For managers deciding...

Access to Information and Communication Technologies (ICT) enables the production, use and transfer of knowledge in an efficient and low cost manner. Knowledge is the major factor in the knowledge economy and countries that have limited access to ICT are disadvantaged. This phenomenon is known...

In this paper, I empirically estimate the relationship between digital technology and climate technology using the United States Patent and Trademark Office's patent database. I find that innovation in digital technology increases the number of patents for climate technology by 17.3% on average,...