Artificial Intelligence: Economic Impact, Opportunities, Challenges, Implications for Policy

This paper discusses economic opportunities and challenges arising from recent advancements in Artificial Intelligence, with a particular focus on the impact on productivity and labour markets.

Highlights

• This paper presents the key features of Artificial Intelligence (AI), highlighting the most relevant facts about AI diffusion across EU countries.
• This paper discusses the main economic implications of AI, focusing especially on its impact on productivity and labour markets.
• While AI presents a formidable opportunity, we argue that it also entails challenges, with implications for policy.
• The paper discusses AI and related regulatory policies, policies to remove bottlenecks to AI development and adoption, competition policy, and policies to deal with labour market and distributive implications.

Information and identifiers

Discussion Paper 210. July 2024. Brussels. PDF. 36pp. Tab. Graph. Bibliogr. Free.

KC-BD-23-027-EN-N (online) 
ISBN 978-92-68-01828-6 (online) 
ISSN 2443-8022 (online)
doi:10.2765/48272 (online)

JEL classification: O30, J20, J30, O40.

Disclaimer

European Economy Discussion Papers are written by the staff of the European Commission’s Directorate-General for Economic and Financial Affairs, or by experts working in association with them, to inform discussion on economic policy and to stimulate debate. The views expressed in this document are solely those of the author(s) and do not necessarily represent the official views of the European Commission.