Can the Nexus of Scaling Laws Coupled with Constant or Variable Elasticity of Substitution Predict AI and Other Technology Adoption?

Participants in recent discussions of AI-related issues ranging from intelligence explosion to technological unemployment have made diverse claims about the nature, pace, and drivers of progress in AI. However, these theories are rarely specified in enough detail to enable systematic evaluation of their assumptions or to extrapolate progress quantitatively, as is often done with some success in other technological domains. After reviewing relevant literatures and justifying t...

This paper analyzes how expectations of Transformative AI (TAI) affect current economic behavior by introducing a novel mechanism where automation redirects labor income from workers to those controlling AI systems, with the share of automated labor controlled by each household depending on their wealth at the time of invention. Using a modified neoclassical growth model calibrated to contemporary AI timeline forecasts, I find that even moderate assumptions about wealth-based...

We are currently in an era of escalating technological complexity and profound societal transformations, where artificial intelligence (AI) technologies exemplified by large language models (LLMs) have reignited discussions on the 'Technological Singularity'. 'Technological Singularity' is a philosophical concept referring to an irreversible and profound transformation that occurs when AI capabilities surpass those of humans comprehensively. However, quantitative modeling and...

Technology adoption research aims to determine the reasons why and how individuals, corporations, and industries start using new technology. Furthermore, technology adoption itself is decomposed into underlying sub-processes which are characterized by a finite number of sequential states in order to capture its evolutionary nature. Building upon that, in this paper a technology adoption index is being constructed that allows for statistical testing. This new framework is flex...

We examine whether substantial AI automation could accelerate global economic growth by about an order of magnitude, akin to the economic growth effects of the Industrial Revolution. We identify three primary drivers for such growth: 1) the scalability of an AI ``labor force" restoring a regime of increasing returns to scale, 2) the rapid expansion of an AI labor force, and 3) a massive increase in output from rapid automation occurring over a brief period of time. Against th...

Since its emergence around 2010, deep learning has rapidly become the most important technique in Artificial Intelligence (AI), producing an array of scientific firsts in areas as diverse as protein folding, drug discovery, integrated chip design, and weather prediction. As more scientists and engineers adopt deep learning, it is important to consider what effect widespread deployment would have on scientific progress and, ultimately, economic growth. We assess this impact by...

The field of Artificial Intelligence (AI) is going through a period of great expectations, introducing a certain level of anxiety in research, business and also policy. This anxiety is further energised by an AI race narrative that makes people believe they might be missing out. Whether real or not, a belief in this narrative may be detrimental as some stake-holders will feel obliged to cut corners on safety precautions, or ignore societal consequences just to "win". Starting...

In recent years, Artificial intelligence products and services have been offered potential users as pilots. The acceptance intention towards artificial intelligence is greatly influenced by the experience with current AI products and services, expectations for AI, and past experiences with ICT technology. This study aims to explore the factors that impact AI acceptance intention and understand the process of its formation. The analysis results of this study reveal that AI exp...

At the heart of technology transitions lie complex processes of social and industrial dynamics. The quantitative study of sustainability transitions requires modelling work, which necessitates a theory of technology substitution. Many, if not most, contemporary modelling approaches for future technology pathways overlook most aspects of transitions theory, for instance dimensions of heterogenous investor choices, dynamic rates of diffusion and the profile of transitions. A si...

Recent advances in the development of artificial intelligence, technological progress acceleration, long-term trends of macroeconomic dynamics increase the relevance of technological singularity hypothesis. In this paper, we build a model of finite-time technological singularity assuming that artificial intelligence will replace humans for artificial intelligence engineers after some point in time when it is developed enough. This model implies the following: let A be the lev...