Economics of the artificial intelligence: challenges, advantages and risks

Abstract

Economics and economic research have been revolutionized in the age of Big Data and Artificial Intelligence. The “Race between Man and Machine” is becoming a hot topic for economists, philosophers, physicists, researchers, consultants, entrepreneurs etc. It is not accidental that the 2024 Nobel Prize in physics was awarded to scientists John Hopefield and Geoffrey Hinton who along with Yann LeCun are referred to as the modern “godfathers of AI”; Nobel Prize in hemistry – to prominent Google’s AI specialists Demis Hassabis, John Jumper (Deep Mind chief executive, rector of the AI lab) and biochemist David Baker.