Opinion
Three ways AI can substantially improve economic analyses
By Marlène Koffi October 26, 2020
Artificial intelligence is an innovative tool social science researchers can use to aid their work. Social scientists, especially economists, should understand the ways in which it can make the world less confusing.
The recent boom in machine learning and artificial intelligence techniques has shown their potential to revolutionize our societies, with noticeable advances in applied sciences (automation of transport, health, and interpersonal interaction), writes Marlène Koffi. Image courtesy of Gerd Altmann/Pixabay
The recent boom in machine learning (ML) and artificial intelligence (AI) techniques has shown their potential to revolutionize our societies, with noticeable advances in applied sciences (automation of transport, health, and interpersonal interaction). However, these powerful tools still have relatively low popularity in the social sciences. How can AI and ML be useful to a social science researcher, especially an economist like myself who studies innovation? Let me outline three ways in which AI can substantially improve economic analyses.
Sponsored Content
Supporting a Digital Public Sector
By Schneider Electric’s Secure Power Division - Canada
Related Stories
Politics This Morning
Your email has been added. An email has been sent to your address, please click the link inside of it to confirm your subscription.
Feds to miss 2021 target to lift remaining boil-water advisories, pledge to redouble commitment
The $1.5-billion funding boost is being framed as an assurance the government is committed, over the long term, to lifting those remaining advisories and preventing new ones from coming into effect. Centre Block renovation budget tops $655-million as post-holiday stonework nears
PSPC has settled on leaving intact the bullet holes left behind after a fatal shootout involving RCMP officers, security, and Michael Zehaf-Bibeau, who claimed allegiance to the so-called Islamic State. NDP, Bloc push for Boeing 737 Max crash inquiry as Liberals, Conservatives block effort
‘In order to have closure, you need to have truth come out,’ says Chris Moore, who believes an inquiry is the best way to get answers about his daughter’s ‘needless’ death in the 2019 crash.BOIE approves nearly $12-million in new annual House spending
Plus, the House administration recently published its first-ever disclosure reports, detailing a combined total of more than $9.6-million in expenses. ‘Very important’ embassy inauguration bash, which attracts influential Washington power brokers, up in the air
A PMO spokesperson wouldn't say if any cabinet members will be headed to Washington next January for Joe Biden's inauguration. Vague on details, feds’ fiscal update dangles possibility of spring election, say experts
The withholding of specifics in the economic statement is part of a longer-term fiscal and electoral strategy to assure different groups the government has their back, says McGill University professor Daniel Béland.Race to replace MP Kent as Thornhill’s Conservative on the ballot a chance to ‘bring Conservatives back into the fold,’ sign of ‘generational shift,’ say early candidates
Two names have emerged stating their intentions of running for the party’s nomination in the riding so far, including long-time Conservative staffer Melissa Lantsman as well as Progressive Conservative MPP Gila Martow. Feds propose pumping $100-billion into economy to stimulate recovery, as deficit on track to soar to $381-billion
In the absence of a fiscal anchor, Ottawa said it intends to use 'several indicators' related to the labour market such as the employment rate, hours worked, and level of unemployment.‘That’s a tough one’: potential prolonged delay in COVID-19 vaccines for Canadians would be politically ‘explosive’ for Trudeau Liberals, say politicos
If Canadians are behind other countries in getting inoculated against COVID-19, the Liberals would not want a spring election, as speculated, since it would mean losing the government, say politicos.Trending Stories
