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AI is what economists call a “general purpose technology.” These technologies can have dramatic effects on the economy. In this session, we discuss how machine intelligence lowers the cost of prediction, enabling new types of decision making. This creates opportunities for businesses and other organizations while changing the skills required to succeed. We talk about what kinds of transformations we are seeing, and can expect to see, in the economy. And we discuss the implications for thinking about economic policy—both to mitigate potential harms from AI deployment and to accelerate the economic benefits AI offers. Speaker: Avi Goldfarb, Rotman Chair in Artificial Intelligence and Healthcare, University of Toronto; Chief Data Scientist, Creative Destruction Lab. About this series: Artificial intelligence is constantly evolving, playing an increasingly larger role in our lives, and transforming every sector from medicine to finance to law and far beyond. We often read about both the great promise of AI and its negative consequences. But what really is AI? How can AI advance human welfare by improving health, education, sustainability, equality and inclusion, access to justice, and more? What do we need to do to ensure that AI is built for public benefit, and how can we mitigate the harm AI can cause? To respond to these questions, the Schwartz Reisman Institute for Technology and Society partnered with Canada School of Public Service to present “Artificial Intelligence is Here,” an eight-part series designed to explain what AI is, where it’s headed, and what workers in the public sector need to know about it.