Position Statement on Impacts of Machine Learning on Economic Activity

Submitted by Adetola Jesulayomi, Research Intern.

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• We totally support the idea of the improved translation software which can significantly boost International Trade online. In support of this idea is the notable research which concludes that after eBay improved its automatic translation program in 2014, commerce shot up by 10.9 per cent among pairs of countries where people could use the new system.

• Although in the study conducted which explained that eBay Machine Translation (eMT) occurring in a before and after scenario, it is often difficult to do casual analyses but given the structure of the study, it is clear that the eBay program and not outside facts directly generated the change in trade volume among affected countries.

• Regardless of the J-curve presence in productivity regarding adoptions of AI technologies as discovered by Brynjolfsson, We firmly believe that generalizing too much on the basis of the finding of the impact of machine learning and other forms of AI on economic activity will not produce such notable changes.

To understand the development, refer to:

http://news.mit.edu/2019/machine-learning-sales-ebay-translation-1220

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