Artificial Intelligence Market Disruption
Proceedings of the International RAIS Conference on Social Sciences and Humanities organized by Research Association for Interdisciplinary Studies (RAIS) at Johns Hopkins University, Montgomery County Campus, Rockville, MD, United States, June 10-11, 2019, pp. 1-8.
7 Pages Posted: 17 Jun 2019 Last revised: 9 Jul 2019
Date Written: June 3, 2019
The introduction of Artificial Intelligence (AI) in our contemporary society imposes historically unique challenges for humankind. The emerging autonomy of AI holds unique potentials of eternal life of robots, AI and algorithms alongside unprecedented economic superiority, data storage and computational advantages. Yet to this day, it remains unclear what impact AI taking over the workforce will have on economic growth. The contemporary trend of slowbalisation is described, as the slowing down of conventional globalization of goods, services and Foreign Direct Investments (FDI) flows; yet at the same time, we still see human migration and air travel as well as data transfer continuing to rise. These market trends of conventional globalization slowing and rising AI-related industries are proposed as first market disruption in the wake of the large-scale entrance of AI into our contemporary economy. Growth in the artificial age is then proposed to be measured based on two AI entrance proxies of Global Connectivity Index and The State of the Mobile Internet Connectivity 2018 Index, which is found to be highly significantly positively correlated with the total inflow of migrants and FDI inflow – serving as evidence that the still globalizing rising industries in the age of slowbalisation are connected to AI. Both indices are positively correlated with GDP output in cross-sectional studies over the world.
Keywords: AI, AI-GDP Index, AI Market Entry, Artificial Intelligence, Capital, Economic Growth, Endogenous Growth, Exogenous Growth, Global Connectivity Index, Gdp, Gross Domestic Product, Labor, Law and Economics, Society, State of the Mobile Internet Connectivity, Workforce
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