How Economists View the Rise of Artificial Intelligence

To really understand the impact of artificial intelligence in the modern world, it’s best to think beyond the mega-research projects like those that helped Google recognize cats in photos. According to professor Ajay Agrawal of the University of Toronto, humanity should be pondering how the ability of cutting edge A.I. techniques like deep learning—which has boosted the ability for computers to recognize patterns in enormous loads of data—could reshape the global economy. Making his comments at the Machine Learning and the Market for Intelligence conference this week by the Rotman School of Management at the University of Toronto, Agrawal likened the current boom of A.I. to 1995, when the Internet went mainstream. Gaining enough mainstream traction, the Internet ceased to be seen as a new technology. Instead, it was a…

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