Abstract
The introduction of Artificial Intelligence (AI) in our contemporary society imposes historically unique challenges for humankind. The emerging autonomy of AI holds unique potentials of eternal life of robots, AI and algorithms alongside unprecedented economic superiority, data storage and computational advantages. This chapter provides information on what impact AI taking over the workforce will have on economic growth. A theoretical background on standard neoclassical and heterodox economics growth theories will be given to be then empirically validated. The empirical results find that Internet connectivity is associated with economic growth decline whereas GDP per capita has no significant relation with GDP growth. The discussion closes with a future outlook on the law and economics of AI entrance into our contemporary economies and society in order to aid a successful and humane introduction of AI into our world.
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