Economy of Algorithms: Rise of the Digital Minions

An insider’s guide to the invisible new economy that is reshaping our lives

Welcome to the economy of algorithms. It’s here and it’s growing.

In the past few years, we have been flooded with examples of impressive technology. Algorithms have been around for hundreds of years, but they have only recently begun to ‘escape’ our understanding. When algorithms perform certain tasks, they’re not just as good as us, they’re becoming infinitely better, and, at the same time, massively more surprising. We are so impressed by what they can do that we give them a lot of agency. But because they are so hard to comprehend, this leads to all kinds of unintended consequences.

In the twentieth century, things were simple- we had the economy of corporations. In the first two decades of the twenty-first century, we saw the emergence of the economy of people, otherwise known as the digital economy, enabled by the internet. Now we’re seeing a new economy take shape- the economy of algorithms.

How do you advertise to a fridge? Can an algorithm take your job? Do algorithms dream of electric sheep? These questions and more are answered by this exciting and ground-breaking book, which includes nine rules for flourishing in the new economy of algorithms.

‘AI appears to be eating the world. How then to understand where this is taking us, both the promises and the threats? This book is for you. A down to earth tour that will help you understand how the algorithms are increasingly taking on human roles.’ -Toby Walsh, Chief Scientist at the UNSW AI Institute and author of Machines Behaving Badly

Format: Paperback
Pages: 304
Imprint: La Trobe University Press
Publication date: 05/03/2024