Macro Musings with David Beckworth
Lars Christensen on AI and its Impact on Monetary Policy and the Broader Field of Economics
Jun 10, 2024
Lars Christensen, a market monetarist and AI entrepreneur, discusses dynamic pricing, AI in econometric analysis, impact of AI on the Fed, deflation as a response to AI productivity shock, and more in an engaging conversation with David Beckworth.
52:49
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Quick takeaways
- AI is reshaping economic and financial analysis through data-driven decision-making in markets.
- Dynamic pricing driven by AI and machine learning aligns prices with market dynamics and consumer behavior.
Deep dives
Transition to AI in Economics and Finance
Lars Kristensen, a seasoned economist, details his transition from traditional economics to an AI focus. Over his 30-year career, data played a crucial role, bridging his work as a market monetarist to ventures in AI. With the surge in data availability, increased computing power, and machine learning capabilities, a paradigm shift towards more data-driven decision-making in markets is observed. Kristensen outlines his journey from applying AI in sports analytics to setting up an AI advisory company and illustrates the transformative potential of AI in reshaping economic and financial analysis.
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