Machine Replacing Human:AI Application or Relative Price Changes of Factors?
This paper constructs a mathematical model based on task-based characterization of AI,and analyzes the impact of AI applications and changes in the interest rate-wage rate ratio on machine replacement.Results show that both AI ap-plications and a decrease in the interest rate-wage rate ratio can lead to machine replacement,but it is theoretically uncer-tain which one plays a greater role,and empirical research is needed.Secondly,based on empirical observations and more rigorous econometric analysis,both AI applications and a decrease in the interest rate-wage rate ratio can indeed lead to machine replacement,but the effect of changes in the interest rate-wage rate ratio is greater than that of AI applications.Furthermore,after explaining the causes of the aforementioned results,corresponding policy recommendations are provided.
machine replacing humanAI applicationsrelative price changes of factors
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