AI and Inequality
Advances in artificial intelligence promise to create lots of economic value, but unlike in earlier technological revolutions, there is a risk that they may reduce labor demand and increase economic inequality. Anton Korinek will speak about the tension between growth and inequality and how to steer technological progress in a direction that delivers on both growth and broadly shared prosperity. He will also showcase a tangible framework to estimate whether a specific AI application increases or reduces labor demand. Finally, he will speak about how to prepare for a long-term future in which machines may be able to perform all human work.
Anton Korinek is a David M. Rubenstein Fellow at the Brookings Institution, a Professor at the University of Virginia, Department of Economics and Darden School of Business as well as a Research Associate at the NBER, a Research Fellow at the CEPR and the Economics of AI Lead at the Centre for the Governance of AI. He received his PhD from Columbia University in 2007 after several years of work experience in the IT and financial sectors. He has also worked at Johns Hopkins and at the University of Maryland and has been a visiting scholar at Harvard University, the World Bank, the IMF, the BIS and numerous central banks.
His areas of expertise include macroeconomics, international finance, and inequality. His most recent research investigates the effects of progress in automation and artificial intelligence for macroeconomic dynamics and inequality. Korinek also focuses on capital controls and macroprudential regulation as policy instruments to reduce the risk of financial crises. He investigates the global spillover effects of such policy measures as well as their implications for income inequality. He has won several fellowships and awards for this work, including from the Institute for New Economic Thinking.
See his personal website https://www.korinek.com/