Artificial Intelligent And Technological Development: Relationship

By Johnny C.H. Lok

What are the (AI) technical change as exogenous or endogenous production of factor?Finally, I shall indicate what the change is as exogenous or endogenous factor in the (AI) production function model to cause innovative technology to produce new technological product in manufacture industry. Although, economic theory firstly treated technology change is as a residual, the unexplained part remaining after the contribution of an increased quantity and quality of capital, labor and natural resources in output growth have been accounted for. However, the theory of economic growth reconsidered recently the nature of technological change and the concept of knowledge. Therefore, the new growth economic theory includes research and development is as a factor of influence in the macroeconomic models.The endogenous or exogenous nature of technological change refers to its source: endogenous is internal to the national economy, being created by domestic private or public enterprise, when exogenous change is external originating from foreign sources. So, it seems research and development workforce is as new factor in the production function model. Although, technological progress, managerial improvements and innovation in general are nowadays largely regarded as key contributors to economic growth. Schumpeter (1939) defines technical progress in terms of production function, which describes the way the production output varies according to the quantity and quality of the input factors. So, the technological change represents the factor that shifts the production function.From the theoretical viewpoint, it has difficult to separate knowledge from the other factors of the production function. The total labor factor productivity is usually estimated by output the capital and labor factors, weighted by their specific shares. Under perfect competition, the price of the production factors is equal to their marginal productivity, hence, their shares in outputs are equal to their exponents from the production function.Otherwise, from the empirical point of view, there are difficulties of measurement, especially in the case of value added and research-development variables. So, from all available data on research and development input and outputs, research and development expenditures are most frequently used, along with the number of patents, the technological balance of payments, machinery and tools inputs etc. costs to measure of input in innovation.

• Format: Paperback
• Language: English
• ISBN: 1728727642
• ISBN13: 9781728727646
• Release Date: October 2018
• Publisher: Independently Published
• Length: 139 Pages
• Weight: 1.03 lbs.
• Dimensions: 0.4" x 8.5" x 11.0"