Artificial Intelligence, Economics, and Industrial Organization

24 Pages Posted: 1 Aug 2018

See all articles by Hal R. Varian

Hal R. Varian

University of California, Berkeley - School of Information; University of California, Berkeley - Operations and Information Technology Management Group; National Bureau of Economic Research (NBER)

Date Written: July 2018

Abstract

Machine learning (ML) and artificial intelligence (AI) have been around for many years. However, in the last 5 years, remarkable progress has been made using multilayered neural networks in diverse areas such as image recognition, speech recognition, and machine translation. AI is a general purpose technology that is likely to impact many industries. In this chapter I consider how machine learning availability might affect the industrial organization of both firms that provide AI services and industries that adopt AI technology. My intent is not to provide an extensive overview of this rapidly-evolving area, but instead to provide a short summary of some of the forces at work and to describe some possible areas for future research.

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Suggested Citation

Varian, Hal R., Artificial Intelligence, Economics, and Industrial Organization (July 2018). NBER Working Paper No. w24839. Available at SSRN: https://ssrn.com/abstract=3218069

Hal R. Varian (Contact Author)

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