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The Generative Artificial Intelligence and the Changes in Political Economy

Author

Listed:
  • Hristo Prodanov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The study aims to explore the economic and political consequences of the introduction of generative artificial intelligence, characterized by its ability to create any type of content. Its object is the generative artificial intelligence, and the subject is about the changes it brings to economy and politics. Politico-economic approach is applied to investigate the interactions of technology with the economy and politics. It is based on the understanding that changes in technology depend on politics and economics, but at the same time they cause changes in both. The study begins with the definition of generative artificial intelligence and its differences from other types of artificial intelligence, what it can do and what its limitations are. The implications for the economy, production, exchange, distribution, consumption are then considered. The questions about the prospects, fears, social controversies it brings are also analyzed. It ends with the role of politics in the development, regulation, limitation, implication, management of generative artificial intelligence, because the social contradictions it brings might become dangerous for the society and politics. The scope of the research is global, and from this comes the main conclusion that the development of artificial intelligence is a global problem that requires global solutions.

Suggested Citation

  • Hristo Prodanov, 2023. "The Generative Artificial Intelligence and the Changes in Political Economy," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 37-81, October.
    • Handle: RePEc:nwe:natrud:y:2023:i:4:p:37-81
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    File URL: https://unwe-research-papers.org/bg/journalissues/article/11506
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    More about this item

    Keywords

    generative artificial intelligence; industrial revolution; algorithms; politico-economic system; production; exchange; distribution; consumption;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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