Human behaviour is increasingly governed by automated decisional systems based on machine learning (ML) and ‘Big Data’. While these systems promise a range of benefits, they also throw up a congeries of challenges, not least for our ability as humans to understand their logic and...

Policymakers fear artificial intelligence (AI) will disrupt labor markets, especially for high-skilled workers. We investigate this concern using novel, task-specific data for security analysts. Exploiting variation in AI's power across stocks, we show analysts with portfolios that are more...