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Published online by Cambridge University Press: 23 May 2024
This chapter deals with how public policy can steer AI, by taking how it can impact the use of big data, one of the key inputs required for AI. Essentially, public policy can steer AI through putting conditions and limitations on data. But data itself can help improve public policy – also in the area of economic policymaking. Hence, this chapter touches on the future potential of economic policy improvements through AI. More specifically, we discuss under what conditions the availability of large data sets can support and enhance public policy effectiveness – including in the use of AI – along two main directions. We analyze how big data can help existing policy measures to improve their effectiveness and, second, we discuss how the availability of big data can suggest new, not yet implemented, policy solutions that can improve upon existing ones. The key message of this chapter is that the desirability of big data and AI to enhance policymaking depends on the goal of public authorities, and on aspects such as the cost of data collection and storage and the complexity and importance of the policy issue.
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