Cited by 293Artificial Intelligence ApplicationsComputational and Text Analysis MethodsEthics and Social Impacts of AI

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Generative AI for Economic Research: Use Cases and Implications for Economists

Korinek, Anton·2023·Journal of Economic Literature

DOI 10.1257/jel.20231736

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Abstract

Generative artificial intelligence (AI) has the potential to revolutionize research. I analyze how large language models (LLMs) such as ChatGPT can assist economists by describing dozens of use cases in six areas: ideation and feedback, writing, background research, data analysis, coding, and mathematical derivations. I provide general instructions and demonstrate specific examples of how to take advantage of each of these, classifying the LLM capabilities from experimental to highly useful. I argue that economists can reap significant productivity gains by taking advantage of generative AI to automate micro-tasks. Moreover, these gains will grow as the performance of AI systems continues to improve. I also speculate on the longer-term implications of AI-powered cognitive automation for economic research. The online resources associated with this paper explain how to get started and will provide regular updates on the latest capabilities of generative AI in economics. (JEL A11, C45, D83, I23, O33)

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Authors: Korinek, A.
Affiliations: Brookings Institution (US)
Corresponding author: Korinek, Anton
ORCID: Korinek, Anton
Venue: Journal of Economic Literature
Publisher: American Economic Association
Published: 2023-12-01
Volume: 61
Issue: 4
Pages: 1281-1317
ISSN: 0022-0515 (ISSN-L)
DOI: 10.1257/jel.20231736
OpenAlex: W4389615177
Cited by: 293
References: 38
Citations by year: 2026: 111 · 2025: 109 · 2024: 65 · 2023: 7
FWCI: 27.53
Type: journal article
Language: en
Open access: closed
Locations: Journal of Economic Literature (publishedVersion)
RePEc: Research Papers in Economics (submittedVersion)
Topics: Physical Sciences › Computer Science › Artificial Intelligence › Artificial Intelligence Applications
Social Sciences › General Social Sciences › Computational and Text Analysis Methods
Physical Sciences › Computer Science › Artificial Intelligence › Ethics and Social Impacts of AI
Keywords: generative AI, large language models, ChatGPT, economic research, research productivity, cognitive automation, academic writing, background research, data analysis, coding, mathematical derivation

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Generative AI for Economic Research: Use Cases and Implications for Economists

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