Terminator or the Jetsons? The Economics and Policy Implications of Artificial Intelligence

On Thursday, February 22, 2018, the Technology Policy Institute hosted an all-day conference featuring nine new research papers on the economics and policy implications of artificial intelligence and machine learning.

“Terminator or the Jetsons? The Economics and Policy Implications of Artificial Intelligence” will cover a wide range of topics in depth, including prediction versus judgment and the limits of AI-led prediction; the relationship between AI and wages; using AI to analyze labor markets; AI and machine learning at central banks and in macroeconomic forecasting; algorithms; AI’s use in reducing errors in health care provision; and the effects of AI in the judicial system.

8:45 – 9:00 am Welcome Remarks
Scott Wallsten, President and Senior Fellow, Technology Policy Institute

9:00 – 10:30 am Algorithms and Decision-Making
Joshua Gans, Skoll Chair of Technical Innovation and Entrepreneurship, Rotman School of Management, University of Toronto:
Exploring the Impact of Artificial Intelligence: Prediction Versus Judgment
(Ajay Agrawal, Joshua Gans, & Avi Goldfarb)

Jeff Prince, Professor and Chairperson, Business Economics and Public Policy, Kelley School of Business, Indiana University:
A Paradigm for Assessing the Scope and Performance of Predictive Analytics
Do Algorithms Rule the World? Algorithmic Decision-making and Data Protection in the Framework of the GDRP and Beyond

Discussant: Cleotilde (Coty) Gonzalez, Research Professor, Department of Social and Decision Sciences, Carnegie Mellon University and Founding Director, Dynamic Decision Making Laboratory

10:30 – 10:45 am Coffee break

10:45 am -12:00 pm Macroeconomics and Central Banking
Andreas Joseph, Research Economist, Advanced Analytics Division, Bank of England:
(Chiranjit Chakraborty & Andreas Joseph)
Nicolas Woloszko, Junior Economist, OECD-OCDE:
Adaptive Trees: A Novel Approach to Macroeconomic Forecasting
Discussant: Sarah Oh, Research Fellow, Technology Policy Institute

12:00 – 1:00 pm Lunch – Fireside Chat
Rep. John Delaney (D-MD-6), Co-chair, Congressional AI Committee

Kim Hart, Technology Editor, Axios
1:15 – 1:55 pm Autonomous Vehicles
Andrew Whinston, Hugh Roy Cullen Centennial Chair in Business Administration, Professor of Information Systems, Computer Science and Economics, John Newton Centennial IC2 Fellow, and Director, Center for Research in Electronic Commerce, University of Texas at Austin:
Routing for Heterogeneous Autonomous Vehicles
(Yixuan Liu & Andrew Whinston)

2:00 – 2:40 pm Health
Miguel Paredes, Director, Center for Advanced Analytics:

2:45 – 4:20 pm Labor Markets
Anton Korinek, Assistant Professor in Economics, Johns Hopkins University:
Artificial Intelligence and Its Implications for Income Distribution and Unemployment
Kornek_AI_Inequality(Anton Korinek & Joseph E. Stiglitz)
Emilio Colombo, Professor of Economics, Catholic University of Milan:
(Emilio Colombo, Fabio Mercorio & Mario Mezzanzanica)
Colombo_Applying-machine-learning-tools-on-web-vacanciesDiscussant: Ted To, Research Economist, Bureau of Labor Statistics

4:30 pm Adjorn
Video of this event is available here, also check out past events on our YouTube channel.

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