A trained AI model can then make a prediction or decision when given new data. For example, if you feed an AI model different pictures labeled as “traffic lights”, it’ll eventually learn ...

They may then be able to use this knowledge to nudge the economy toward a more desired outcome (for example, avoiding a global financial crisis). An economic model is a simplified description of ...

Today’s economists build models—road maps of reality, if you will—to enhance our understanding of the invisible hand. As economies allocate goods and services, they emit measurable signals that ...