While much has been written about the economic impacts of artificial intelligence in terms of the jobs it might take, much less attention has been paid to AI’s impact on the concentration of capital and the increase in market power.
This project takes as its focus the ways in which AI will reorganise businesses in light of market competition, with a particular focus on the technological necessities that machine learning demands, as well as the strategic ambitions of the leading capitalist firms to dominate this new general purpose technology. Fundamental questions about value and power will be posed in light of these changes, to determine how AI companies may be transforming the economy.
King’s lead researcher: Nick Srnicek