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Big Tech's AI Labs Hire Economists: A New Data Era?
2 Oct
Summary
- AI companies are rapidly hiring economists for their exclusive data.
- Economists face potential conflicts of interest in AI research.
- AI adoption correlates with a 10% increase in company headcount.
AI companies are significantly increasing their hiring of economists, seeking access to proprietary data that can illuminate the technology's economic impact. This trend is exemplified by firms like OpenAI and Anthropic establishing economic research teams and collaborations with external academics.
Ara Kharazian, lead economist at Ramp, notes unprecedented demand for economists in AI start-ups. He highlights that companies adopting AI intensely experienced a 10% rise in headcount over two years, though this was not statistically significant for low-intensity users.
John Burn-Murdoch, chief data cruncher at the FT, observes a diversification in research sources, with analysis now appearing on platforms like Substack. He notes variability in the quality and focus of research emerging from AI labs, distinguishing between rigorous economic analysis and more commentary-based work.
Concerns persist regarding potential conflicts of interest, as AI firms hold exclusive, granular data. While some labs fund independent research and emphasize transparency in methodology, others may steer clear of potentially negative findings regarding AI's societal impact, such as its reinforcement of inequality or increased work intensity.
