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Artificial intelligence and shapeshifting capitalism

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Luca Grilli at Politecnico di Milano
Luca Grilli
Sergio Mariotti at Politecnico di Milano
Sergio Mariotti
Riccardo Marzano at Sapienza University of Rome
Riccardo Marzano
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Artificial intelligence (AI) is anticipated to reshape the economy by revolutionizing human interaction with technology. Despite its significance, research endeavors in the field of economics remain relatively limited. In this editorial, we outline the articles featured in a Virtual Special Issue designed to expand the scope of inquiry for economists examining AI and its implications. We position these articles within the current economic literature and propose an agenda for further research aimed at fostering a more varied understanding of the impacts, implications, and challenges of AI technologies at the intersection with economic activity.
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Vol.:(0123456789)
Journal of Evolutionary Economics (2024) 34:303–318
https://doi.org/10.1007/s00191-024-00865-7
1 3
RESEARCH
Artificial intelligence andshapeshifting capitalism
LucaGrilli1 · SergioMariotti1 · RiccardoMarzano2
Accepted: 16 June 2024 / Published online: 11 July 2024
© The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2024
Abstract
Artificial intelligence (AI) is anticipated to reshape the economy by revolutioniz-
ing human interaction with technology. Despite its significance, research endeavors
in the field of economics remain relatively limited. In this editorial, we outline the
articles featured in a Virtual Special Issue designed to expand the scope of inquiry
for economists examining AI and its implications. We position these articles within
the current economic literature and propose an agenda for further research aimed at
fostering a more varied understanding of the impacts, implications, and challenges
of AI technologies at the intersection with economic activity.
Keywords Artificial intelligence· Capitalism· Economic institutions
1 Introduction
Artificial intelligence (AI) refers to the development of machines (particularly com-
puter systems) capable of performing tasks that typically require human intelligence
(McCarthy 2007). These tasks encompass learning, reasoning, problem-solving,
perception, understanding natural language, and more. AI systems can analyze large
datasets, recognize patterns, and make decisions, often surpassing human capabili-
ties in accuracy and speed (Winston 1984).
For its capacity to revolutionize human interaction with technology, AI is
expected to reshape various aspects of economic activity (Lu and Zhou 2021). AI
technologies can automate tasks, streamline processes, and optimize resource allo-
cation, leading to increased productivity across various sectors of the economy
(Acemoglu and Restrepo 2018). AI fosters innovation by enabling the develop-
ment of new products, services, and business models (Babina etal. 2024; Cockburn
* Riccardo Marzano
riccardo.marzano@uniroma1.it
1 Politecnico di Milano, Department ofManagement, Economics, andIndustrial Engineering, Via
R. Lambruschini 4b, 20156Milan, Italy
2 Department ofComputer, Control, andManagement Engineering, Sapienza Università di Roma,
Via L. Ariosto 25, 00185Rome, Italy
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