The Economics of AI
The past year has seen a dramatic shift in the landscape for the economics of AI. Artificial intelligence has made remarkable progress, and this progress has been faster than many expected. As we enter 2023, Darden Professor Anton Korinek shares some facts and his expert opinions on the implications of these developments.
Preparing for a Virtual Future: Teaching in the Metaverse
Professor Marc Santugini, the Blue Ridge Distinguished Teaching Fellow at UVA’s Department of Economics, shares his insights on teaching in the metaverse, in conversation with Darden Professor Anton Korinek.
Rise of the Machines: AI and the Future of Business
The economic base of the postindustrial world is defined by technology and service industries and the rapid way machine learning is changing them. Artificial intelligence’s influence on consumer expectation and business strategy has changed the way the workforce delivers goods and services — and is existentially changing the workforce itself.
The Economics of the 2021 American Rescue Plan: Getting Relief to Those Who Need It
To buffer the effects of the pandemic on the economy, the U.S. Congress has enacted a number of bipartisan COVID-19 related bills, including the CARES Act, which got a few things wrong. Darden Professor Anton Korinek shares insights on how to improve targeting and overall effectiveness of federal aid during large-scale crises.
The Power of Superstar Firms Amid the Pandemic: Should Regulators Intervene?
Long before the coronavirus pandemic, advances in information technology were already fueling the rise of a handful of superstar firms that dominate the economy. COVID-19 has greatly accelerated that trend. Darden Professor Anton Korinek explores the implications of the superstar phenomenon for overall economic efficiency and, by extension, policy.
Q&A: Societal Costs of COVID-19 Outweigh Individual Costs
Epidemiology and economics: A smart containment strategy for COVID-19 could save the U.S. economy $10 trillion. Here: the effects of states easing lockdowns, putting a (literal) price on individual vs. societal costs of the disease, how to get the economy running and what changes to expect long-term, and why public health measures are so important.
Is COVID-19 Accelerating Automation? Lessons for the Advent of AI
Long before the coronavirus pandemic, advances in artificial intelligence (AI) were already causing unprecedented changes in work and business. Now, the world’s top thinkers on the economics of AI — Daron Acemoğlu, Diane Coyle, and Nobel Prize winner Joseph Stiglitz — are drawing new lessons from today’s crisis.
Distant but Together: The Binding Power of Questions Amid a Pandemic
The questions we find ourselves asking in response to COVID-19 are complicated and colossal. But the act of asking questions together is a powerful activity for any community — and creates new possibilities for starting to overcome chaos. It is a crucial form of action that helps us creatively solve the problems before us.
How to Leverage Virtual Technologies at a Time of Physical Distancing
Humanity is a social species — yet the coronavirus pandemic requires that we reduce physical contact. Here are actionable suggestions for effective interactions to help balance efficiency and connectedness, as modern technology helps us move our interactions to the virtual world and avoid significant social isolation.
The Coronavirus and Managing Your Organization’s Response
The coronavirus has spread around the world rapidly. Here, one Darden professor examines the financial implications versus the ethical ones. What would an uncontrolled outbreak mean in the U.S.? What can we learn from China and Italy? And what questions should organizations be asking?