According to an article on Barrons.com, "Investment firms are starting to use Al [artificial intelligence] to execute trades [of stocks, bonds, and other financial securities), manage portfolios, and provide personalized service to their clients." The article notes that other financial firms, including banks, insurance companies, are using Al to decrease costs and increase the accuracy of compliance with government regulations, and to "free employees to work on more valuable jobs." Source: Scott Likens, "How Artificial Intelligence is Already Disrupting Financial Services" Barrons.com, May 16, 2019. Does the use of Al increase or decrease labor productivity? Increase, because the use of Al represents technological advance. Decrease, because the use of Al increases the stock of capital Increase, because the use of Al raises investment returns. O Decrease, because the use of Al reduces the number of work hours in the economy.

According to an article on Barrons.com, "Investment firms are starting to use Al [artificial intelligence] to execute trades [of stocks, bonds, and other financial securities), manage portfolios, and provide personalized service to their clients." The article notes that other financial firms, including banks, insurance companies, are using Al to decrease costs and increase the accuracy of compliance with government regulations, and to "free employees to work on more valuable jobs." Source: Scott Likens, "How Artificial Intelligence is Already Disrupting Financial Services" Barrons.com, May 16, 2019. Does the use of Al increase or decrease labor productivity? Increase, because the use of Al represents technological advance. Decrease, because the use of Al increases the stock of capital Increase, because the use of Al raises investment returns. O Decrease, because the use of Al reduces the number of work hours in the economy.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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