Economics of Artificial Intelligence A Normative Assessment
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Imad A. Moosa, Professor of Economics and Finance (Retired)<i>‘'This book masterfully demystifies AI, weaving its origins, technological underpinnings, and economic impact into a compelling narrative. A must-read for anyone seeking to understand AI’s transformative potential, its economic consequences, and the policies needed to guide its future.’</i>
- Giancarlo Giudici, Politecnico di Milano, Italy,
<i>'In </i>The Economics of Artificial Intelligence<i> Imad A. Moosa explores the multifaceted role of AI in reshaping our world. The book navigates the historical evolution, technological underpinnings, sectoral disruptions, macroeconomic impacts, and regulatory challenges of AI. It dives into its costs and benefits, its interplay with economic theory, and its implications for public policy and global power dynamics. Through comprehensive reviews of the current thinking on the subject coupled with thoughtful reflection, Moosa challenges us to leverage AI’s transformative potential responsibly while addressing its societal risks and ethical dilemmas. This book is for anyone interested in understanding the role of AI in modern society.’</i>
- Alberto Posso, Griffith University, Australia,
Moosa discusses regulations and corrective policies, illustrating the technological foundations and evolution of AI. Chapters challenge the view that AI is benign, demonstrating the macroeconomic effects of its usage on wages and income distribution. Exploring the geopolitics of AI, Moosa identifies the existential threat it poses to neoliberal capitalism, arguing that more jobs will be lost as a result of AI than will be created.
The Economics of Artificial Intelligence will greatly benefit students and academics of applied economics, disruptive technology and industry innovation. Its approach to business and sectoral principles will also be essential for politicians, policymakers and practitioners in technology and innovation.