ABSTRACT
Artificial intelligence may greatly increase the efficiency of the existing economy. But it may
have an even larger impact by serving as a new general-purpose “method of invention” that can
reshape the nature of the innovation process and the organization of R&D. We distinguish
between automation-oriented applications such as robotics and the potential for recent
developments in “deep learning” to serve as a general-purpose method of invention, finding
strong evidence of a “shift” in the importance of application-oriented learning research since
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