Search results
1 – 2 of 2Gianluca Piero Maria Virgilio, Fausto Saavedra Hoyos and Carol Beatriz Bao Ratzemberg
The aim of this paper is to summarise the state-of-the-art debate on impact of artificial intelligence on unemployment and reporting up-to-date academic findings.
Abstract
Purpose
The aim of this paper is to summarise the state-of-the-art debate on impact of artificial intelligence on unemployment and reporting up-to-date academic findings.
Design/methodology/approach
The paper is designed as a review of the labour vs capital conundrum, the differences between industrial automation and artificial intelligence, threat to employment, the difficulty of substituting, role of soft skills and whether technology leads to the deskilling of human workers or favors increasing human capabilities.
Findings
Some authors praise the bright future developments of artificial intelligence while others warn about mass unemployment. Therefore, it is paramount to present an up-to-date overview of the problem, compare and contrast its features with what happened in past innovation waves and contribute to academic discussion about the pros/cons of current trends.
Originality/value
The main value of this paper is presenting a balanced view of 100+ different studies, the vast majority from the last five years. Reading this paper will allow to quickly grasp the main issues around the thorny topic of artificial intelligence and unemployment.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-05-2023-0338
Details
Keywords
The purpose of this paper is to provide the current state of knowledge about the Flash Crash. It has been one of the remarkable events of the decade and its causes are still a…
Abstract
Purpose
The purpose of this paper is to provide the current state of knowledge about the Flash Crash. It has been one of the remarkable events of the decade and its causes are still a matter of debate.
Design/methodology/approach
This paper reviews the literature since the early days to most recent findings, and critically compares the most important hypotheses about the possible causes of the crisis.
Findings
Among the causes of the Flash Crash, the literature has propsed the following: a large selling program triggering the sales wave, small but not negligible delays suffered by the exchange computers, the micro-structure of the financial markets, the price fall leading to margin cover and forced sales, some types of feedback loops leading to downward price spiral, stop-loss orders coupled with scarce liquidity that triggered price reduction. On its turn leading to further stop-loss activation, the use of Intermarket Sweep Orders, that is, orders that sacrificed search for the best price to speed of execution, and dumb algorithms.
Originality/value
The results of the previous section are condensed in a set of policy implications and recommendations.
Details