Top

Published in:

2021 | OriginalPaper | Chapter

1. Introduction

Author : Georgios I. Zekos

Published in: Economics and Law of Artificial Intelligence

Publisher: Springer International Publishing

Activate our intelligent search to find suitable subject content or patents.

search-config

AI-assisted search

Off

Abstract

Artificial intelligence is becoming global and so, it is encompassing various industries and transforming commerce, which means that AI is having tremendous economic consequences akin to transformational technologies of the past, such as electrification, manufacturing, and information technology. Algorithmic decision-making presents multiple benefits to society and so, algorithms surpass human abilities, and the set of those tasks is escalating. AI and its usage have significant impact on human lives and society as a whole. AI involves a number of potential risks, such as opaque decision-making, gender-based or other kinds of discrimination, intrusion in private lives, or being used for criminal purposes.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 390 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Maschinenbau + Werkstoffe

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

next chapter E-Globalization and Digital Economy

Phillipe Aghion et al., Artificial Intelligence and Economic Growth (Nat’l Bureau of Econ. Research, Working Paper No. 23928, 2017) (defining artificial intelligence as “the capability of a machine to imitate intelligent human behavior [or] an agent’s ability to achieve goals in a wide range of environments.”; Sean Semmler & Zeeve Rose, Comment, Artificial Intelligence: Application Today and Implications Tomorrow, 16 Duke L. & Tech. Rev. 85, 86 (2017–2018) (defining artificial intelligence as “the process of simulating human intelligence through machine processes”); The Petrie-Flom Center for Health Law Policy, Biotechnology, and Bioethics at Harvard Law School, Black-Box Medicine: Legal and Ethical Issues: A Health Policy and Bioethics Consortium (February 8, 2019) (describing the “black-box” of artificial intelligence algorithms as opaque computational models to make decisions).

Michael Copeland, What’s the Difference Between Artificial Intelligence, Machine Learning, and Deep Learning?, NVIDIA BLOG (July 29, 2016), https://blogs.nvidia.com/blog/2016/07/29/whats-difference-artificial-intelligence-machine-learningdeep-learning-ai; Yann Ménière & Ilja Rudyk, The Fourth Industrial Revolution from the European Patent Office Perspective, in Intellectual Property And Digital Trade In The Age Of Artificial Intelligence And Big Data 31, 31 (Xavier Seuba, Christophe Geiger, & Julien Penin eds, June 2018), https://www.ictsd.org/sites/default/files/research/ceipi-ictsd_issue_5_final_0.pdf.

Angela Walch, ‘The Bitcoin Blockchain as Financial Market Infrastructure: A Consideration of Operational Risk’[2015]18 NYU J Legislation and Public Policy837 (considering the operational risks created by informal governance processes in Bitcoin and their implications for its suitability as financial market infrastructure); Angela Walch, ‘Open-Source Operational Risk: Should Public Blockchains Serve as Financial Market Infrastructures?’ in David LEE Kuo Chuen and Robert D Deng (eds), Handbook of Blockchain, Digital Finance, and Inclusion Vol. 2 (Elsevier Academic Press 2017) (exploring the operational risks raised by use of grassroots open source software development practices in the use of public blockchains as financial market infrastructures).

R. Veugelers (2017) The challenge of China’s rise as a science and technology powerhouse, Bruegel Policy Contribution, Issue n ̊19, July http://bruegel.org/wp-content/uploads/2017/07/PC-19-2017.pdf; K-F. Lee (2017) The Real Threat of Artificial Intelligence, The New York Times, 24 June, https://www.nytimes.com/2017/06/24/opinion/sunday/artificial-intelligence-economic-inequality.html.

A. Perkins (2018) Government to review law before self-driving cars arrive on UK roads, The Guardian, 6 March, https://www.theguardian.com/technology/2018/mar/06/self-driving-cars-in-uk-riding-on-legalreview.

Matthew Dyson and Sandy Steel, ‘Risk and English Tort Law’ in Dyson (ed), Regulating Risk through Private Law (Intersentia 2018) 23. Rene Demogue, ‘Fault, risk, and apportionment of loss in responsibility’ (1918) 13 Ill L Rev 308.

Frasier J. & Simkins B. Enterprise Risk Management: Today’s Leading Research and Best Practices for Tomorrow’s Executives. Wiley, 2010.

“Management”. Business Dictionary.

Hubbard, Douglas (2009). The Failure of Risk Management: Why It’s Broken and How to Fix It. John Wiley & Sons. p. 46. ISO/DIS 31000 (2009). Risk management — Principles and guidelines on implementation. International Organization for Standardization.

Braithwaite, J., and P. Drahos. 2000. Global Business Regulation. Cambridge, UK: Cambridge University Press.

Miller, M.: 2005, ‘Is American corporate governance fatally flawed?’, in D. Chew and S. Gillan (eds.), Corporate Governance at the Crossroads: A Book of Readings (Irwin Mcgraw-Hill, Boston, MA).

Lester Thurow, The Future of Capitalism. New York: W. Morrow, 1996. p. 115. “The ‘globalization’ topic arises from a cluster of empirical data which show how in many branches and areas of activity, there is a small number of relevant firms operating and there are no national boundaries to competition. So in sectors like finances, telecommunications, aerospace, semiconductors etc. there exists real world-wide competition among a reduced number of firms.”

PricewaterhouseCoopers, Global Artificial Intelligence Study: Exploiting the AI Revolution 4 (2017), https://www.pwc.com/gx/en/issues/analytics/assets/pwc-ai-analysis-sizing-theprize-report.pdf; Jonathan Bastable, Is artificial intelligence set to become art’s next medium?, Christie’s (Aug. 20, 2018), https://www.christies.com/features/A-collaboration-between-two-artists-one-human-one-amachine-9332-1.aspx.

Oracle, Am. Inc. v. Google Inc., 2014; case BSA v. Ministerstvo kultury ČR, C-393/09, 2010; case SAS Institute Inc. v. World Programming Ltd, C-406/10, 2012.

AI for Europe, COM/2018/237 final https://ec.europa.eu/commission/sites/beta-political/files/political-guidelines-next-commission_en.pdf.

Title: Introduction
Author: Georgios I. Zekos
Publisher: Springer International Publishing
Book: Economics and Law of Artificial Intelligence
Print ISBN: 978-3-030-64253-2

Electronic ISBN: 978-3-030-64254-9

Copyright Year: 2021
DOI: https://doi.org/10.1007/978-3-030-64254-9_1

Springer Professional

Abstract

Please log in to get access to your license.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Technik"

Springer Professional "Wirtschaft"