Minds, machines and markets

: a political analysis of technological progress in the world economy

Abstract

This dissertation explores the economic impact of technological development, focusing on Artificial Intelligence (AI). The dissertation highlights the complex relationship between society (minds), automation and AI (machines), and the digital revolution (markets) as technological development particularized by elements such as AI, algorithms, digital economy and “big data” increasingly influence society in spheres like employment, productivity, business models, trade, and macroeconomics. This research provides a comprehensive, interdisciplinary analysis of AI's effects on employment, productivity, and economic systems, addressing gaps in existing literature and prioritizing diverse sources to avoid bias. It´s important to notice that my perspective as a writer to engage on these topics discussion is market not only as an academic researcher but as someone who had a brief but a revealing professional as intern for a sector of Portuguese Ministry of Economy encounter that focused on innovation, digital economy and technological revolution economic and political matter. This dissertation is structured on three sections to attend the theme´s imposing paradigms. The first section examines the impact of algorithms and AI on jobs, wages, and inequality, as AI increasingly influences society, influencing employment, productivity, business models, trade, and macroeconomics. The second section investigates the dynamics of the data-driven economy, the proliferation of data, and its implications for business practices, particularly in the context of surveillance capitalism. The final section explores the complex interactions among technology, the state, and private corporations, focusing on AI, trade, and international macroeconomics as it scrutinizes public policy models in China and the USA, examining their approaches to AI technology, corporations, protectionism, and the challenges to U.S. global technology leadership. By examining these research themes, the dissertation aims to contribute to the existing body of knowledge on the political dimensions of technological advancement, offering insights into the challenges, opportunities, and policy responses in an increasingly technology-driven world.

Date of Award	13 Mar 2024
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Orlando Samões (Supervisor)