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Join Professor Marco Vivarelli for his seminar on the topic; IS AI A NEW TECHNOLOGICAL PARADIGM? A FOCUS ON THE LABOUR MARKET
Professor Vivarelli is Full Professor of Economics at the Università Cattolica del Sacro Cuore in Milano, where he is also Director of the Department of Economic Policy. He graduated from Bocconi University-Milano and earned a Ph.D. in Science and Technology Policy from SPRU-University of Sussex and a Ph.D. in Economics from Pavia University.
His current research interests include the relationship between innovation, employment and occupations; the economic and social impacts of Artificial Intelligence; the economics of entrepreneurship and industrial dynamics.
He is author and editor of various books and his papers have been published in refereed international journals such as Applied Economics, Cambridge Journal of Economics, Canadian Journal of Economics, Economics Letters, Economics of Innovation and New Technology, Empirical Economics, Industrial and Corporate Change, Industry and Innovation, International Journal of Industrial Organization, Journal of Economics, Journal of Economic Surveys, Journal of Evolutionary Economics, Journal of Population Economics, Journal of Productivity Analysis, Journal of Technology Transfer, Labour Economics, Oxford Bulletin of Economics and Statistics, Regional Studies, Research Policy, Review of World Economics, Small Business Economics, Southern Economic Journal, Structural Change and Economic Dynamics, Technological Forecasting and Social Change, World Bank Research Observer, World Development, World Economy
For more details see https://en.wikipedia.org/wiki/Marco_Vivarelli
Seminar Abstract:
Artificial intelligence (AI) is emerging as a transformative innovation with the potential to drive significant economic growth and productivity gains. This study examines whether AI is initiating a technological revolution, signifying a new technological paradigm, using the perspective of evolutionary neo-Schumpeterian economics. Using a global dataset combining information on AI patenting activities and their applicants between 2000 and 2016, our analysis reveals that AI patenting has accelerated and substantially evolved in terms of its pervasiveness, with AI innovators shifting from the ICT core industries to non-ICT service industries over the investigated period. Moreover, there has been a decrease in concentration of innovation activities and a reshuffling in the innovative hierarchies, with innovative entries and young and smaller applicants driving this change. Finally, we find that AI technologies play a role in generating and accelerating further innovations (so revealing to be “enabling technologies”, a distinctive feature of GPTs). All these features have characterised the emergence of major technological paradigms in the past and suggest that AI technologies may indeed generate a paradigmatic shift.
Moreover, this study offers fresh evidence on the role of innovation as one of the drivers of employment evolution. GMM-SYS estimates show a positive and significant impact of AI patent families on employment. This effect, presumably of product innovations, is small in magnitude and limited to service sectors and younger firms, which are among the torch bearers of the leaders of the AI revolution. We also detect some evidence of increasing returns suggesting that innovative companies more focused on AI technologies are those obtaining larger impacts in terms of job creation.
