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Paper 1 real-world example: signalling and incentive functions of price, technology and economic development

The emergency of the artificial intelligence tool ChatGPT produced by OpenAI has led to a huge amount of media interest in the growing importance of AI in people’s lives. Whenever a technological development moves to a new level (the internet, smartphones, social media platforms) there is always speculation about what the economic implications of the technology are.Here are eight economic consequences of the development...

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