© Soumendra Mohanty, Sachin Vyas 2018
Soumendra Mohanty and Sachin VyasHow to Compete in the Age of Artificial Intelligencehttps://doi.org/10.1007/978-1-4842-3808-0_1

1. The Economics of Artificial Intelligence

Soumendra Mohanty1  and Sachin Vyas2
(1)
Kolkata, India
(2)
Pune, India
 

When three types of disruptive forces (a new source of energy, a new kind of transport, and a new kind of communication) converge in concert, something dramatic happens. The cost of goods drops, the demand-supply equilibrium gets disrupted, new avenues of business opportunities open up, society by and large benefits, and we find ourselves at the cusp of an economic revolution. The last economic revolution was driven by oil (new source of energy), automobiles (new kind of ...

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