Economic Consequences of Artificial Intelligence

Abstract

The chapter is purely theoretical and it describes the effect of artificial intelligence on four main factors such as productivity, public goods, competition, and labor. The chapter attempts to discuss positive and negative effects of artificial intelligence on different factors. Artificial intelligence has different apparent advantages as well as disadvantages. Benefits and drawbacks from AI implementation are carefully described in the chapter. The chapter is presented as a discussion and provides different views of different authors. The review of literature is thorough and deep enough. The main purpose of research is to discuss all possible economic consequences of artificial intelligence. The methodological part includes the effect of artificial intelligence on four main above-mentioned factors.