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Platforms, Big Data and New Forms of Capital Accumulation

In: Political Economy of Artificial Intelligence

Author

Listed:
  • Bhabani Shankar Nayak

    (London Metropolitan University)

  • Nigel Walton

    (University of Portsmouth)

Abstract

The classical Marxist framework for understanding capitalist accumulation falls short in capturing the complexities of contemporary capitalism, particularly influenced by techno-feudalism, and the rise of phenomena such as “platforms” and “big data”. These factors wield significant influence over production methods, labour dynamics, pricing strategies and market structures. In today’s economic landscape, “digital platforms” and the vast reservoirs of “big data” have seamlessly integrated into the operational fabric of production, distribution and exchange networks, serving as fundamental drivers in ongoing processes of capitalist accumulation. This study builds upon established theoretical paradigms concerning AI and the evolving mechanisms of capitalist accumulation, with a specific focus on platform capitalism. By delineating emerging trends and patterns of data-driven accumulation, this chapter contributes to a deeper understanding of contemporary economic dynamics.

Suggested Citation

  • Bhabani Shankar Nayak & Nigel Walton, 2024. "Platforms, Big Data and New Forms of Capital Accumulation," Springer Books, in: Political Economy of Artificial Intelligence, chapter 4, pages 73-94, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-62308-0_4
    DOI: 10.1007/978-3-031-62308-0_4
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