In Short:

What are the possibilities of AI as economic agents and their attendant implications for markets, organizations, and institutions?

Abstract

In the coming decade, artificially intelligent agents with the ability to plan and execute complex tasks over long time horizons with little direct oversight from humans may be deployed across the economy. This chapter surveys recent developments and highlights open questions for economists around how AI agents might interact with humans and with each other, shape markets and organizations, and what institutions might be required for well-functioning markets.

About the author

Gillian K. Hadfield

Bloomberg Distinguished Professor of AI Alignment and Governance, School of Government and Policy and Whiting School of Engineering

Gillian K. Hadfield’s research focuses on innovative design for legal, regulatory, and technical systems for AI, computational models of human normative systems, and building AI systems that understand and respond to human values and norms.