AI Economy

Description

An AI (or Artificial Intelligence) economy is an economy in which key drivers concerning the transactions of goods and services are made in whole or in part by specialized artificial intelligence systems. This covers a wide variety of activity, from credit systems making decisions about the creditworthiness of an individual to the automated purchase of stocks, commodities or other assets to the use of expert systems to make business decisions.

It can also, more generally, refer to an economy where artificial intelligence is in use in day to day activities, without necessarily directly mediating financial transaction. In such cases, the AIs involved are primarily assistive, helping people to gather the information and perform cost analysis, with the final decisions being made by human agents. However, even in this case, the assumption is that the use of AI is to facilitate transactions, if not necessarily execute them.


4 months 2 weeks ago
I have been a seed and early stage deep technology investor for the past 20 years. This means that I am part of the problem, so writing a column on a potential tech bubble is like asking an oil baron how he feels about natural habitats. I love the challenge of adding business perspectives to a research breakthrough, innovation or patent portfolio. Doing this together with the most qualified people in their respective fields brings me enormous joy, but for some strange reason I have been starting to feel a…

8 months 3 weeks ago
A few years ago, I saw this headline news flashing all over the internet.  Our dealers are missing up to $18 billion in easy sales. The Chairman and CEO of Caterpillar suggested that the company and its dealers were losing $9 to 18 billion in easy sales revenue as their sales, both internal and dealer networks, weren't monetizing the real value of data. He worried that... They are not tapping into the wealth of real-time customer data now at their fingertips; they are not communicating with each other…