55048 The Artificial Intelligence Economy: Business, Governance, and Society in the Age of Algorithms
We are entering an age of transformational technologies driven by artificial intelligence (AI). Advances in computer science and robotics create machines that can drive, diagnose, build, and “think”. AI promises new conveniences, more efficient production, and material and cultural bounty. Technology will also fundamentally change manufacturing processes and services delivery, potentially eliminating jobs and increasing inequality. These effects are likely to accelerate in response to the COVID-19 pandemic. Unless properly managed, the AI economy may create deep economic and political conflict between its beneficiaries and those left behind. Left unchecked, these divisions threaten crises to governance, global capitalism, and geopolitics.
This course surveys the AI economy and its potential implications for firms, governments, and society. We assess the emerging business tools and strategies relying on machine learning and other algorithms. We review recent developments in the economics of AI, with particular focus on which jobs AI will likely replace and the reasons why. We explore differences in AI deployment across countries and regions, and their implications for international economic relations between the US, China, and the EU. The course concludes with an exploration of the political and governance challenges that may arise from AI-induced unemployment and widening inequality, privacy concerns, and algorithmic biases. We evaluate policy proposals to forestall these threats to democratic governance.
The class meets for eight virtual sessions (via Zoom), which combine lecture, discussion, and student presentations. The class will be highly interactive and each student is expected to participate in each meeting. Successful contributions to the course require that you complete the readings prior to the session for which they are assigned.
Prof. Stephen Weymouth
McDonough School of Business,
Georgetown University, Washington D.C.
Duration: 2 - 12 August 2021
Monday 2 August 2021: 14:00 - 16:30
Tuesday 3 August 2021: 14:00 - 16:30
Wednesday 4 August 2021: 14:00 - 16:30
Thursday 5 August 2021: 14:00 - 16:30
Monday 9 August 2021: 14:00 - 16:30
Tuesday 10 August 2021: 14:00 - 16:30
Wednesday 11 August 2021: 14:00 - 16:30
Thursday 12 August 2021: 14:00 - 16:30
UPDATE: The course will be taught online.
- Contribution to the class (individual): 30%
- Presentations(group): 40%
- Short paper (group): 30%
Introduction to Economics (Einführung in die Volkswirtschaftslehre, 10130)
Globalization and European Integration (Globalisierung und europäische Integration, 34504)
For further information please contact the Summer School office.