Rethinking of Marxist perspectives on big data, artificial intelligence (AI) and capitalist economic development

Nigel Walton; Bhabani Nayak

doi:10.1016/j.techfore.2021.120576

Rethinking of Marxist perspectives on big data, artificial intelligence (AI) and capitalist economic development

Nigel Walton, Bhabani Nayak

School of Strategy and Leadership

University for the Creative Arts

Research output: Contribution to journal › Article › peer-review

24 Citations (Scopus)

1765 Downloads (Pure)

Abstract

AI and big data are not ideologically neutral scientific knowledge that drives economic development and social change. AI is a tool of capitalism which transforms our societies within an environment of technological singularity that helps in the expansion of the capitalist model of economic development. Such a development process ensures the precarity of labour. This article highlights the limits of traditional Marxist conceptualisation of labour, value, property and production relations. It argues for the rethinking of Marxist perspectives on AI led economic development by focusing on conceptual new interpretation of bourgeois and proletariat in the information driven data-based society. This is a conceptual paper which critically outlines different debates and challenges around AI driven big data and its implications. It particularly focuses on the theoretical challenges faced by labour theory of value and its social and economic implications from a critical perspective. It also offers alternatives by analysing future trends and developments for the sustainable use of AI. It argues for developing policies on the use of AI and big data to protect labour, advance human development and enhance social welfare by reducing risks.

Original language	English
Article number	120576
Number of pages	8
Journal	Technological Forecasting and Social Change
Volume	166
Early online date	13 Jan 2021
DOIs	https://doi.org/10.1016/j.techfore.2021.120576
Publication status	Published - May 2021

Bibliographical note

© 2021, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/

Copyright © and Moral Rights are retained by the author(s) and/ or other copyright owners. A copy can be downloaded for personal non-commercial research or study, without prior permission or charge. This item cannot be reproduced or quoted extensively from without first obtaining permission in writing from the copyright holder(s). The content must not be changed in any way or sold commercially in any format or medium without the formal permission of the copyright holders.

Keywords

Platforms
Big data
Artificial intelligence
Internet-of-Things
Disintermediation
Sharing economy
Bourgeoisie
Proletariat
Labour power

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1016/j.techfore.2021.120576

Post-PrintAccepted author manuscript, 923 KBLicence: CC BY-NC-ND

Cite this

@article{5ceb79aaeebd4ec3a24abe65d0e986f7,

title = "Rethinking of Marxist perspectives on big data, artificial intelligence (AI) and capitalist economic development",

abstract = "AI and big data are not ideologically neutral scientific knowledge that drives economic development and social change. AI is a tool of capitalism which transforms our societies within an environment of technological singularity that helps in the expansion of the capitalist model of economic development. Such a development process ensures the precarity of labour. This article highlights the limits of traditional Marxist conceptualisation of labour, value, property and production relations. It argues for the rethinking of Marxist perspectives on AI led economic development by focusing on conceptual new interpretation of bourgeois and proletariat in the information driven data-based society. This is a conceptual paper which critically outlines different debates and challenges around AI driven big data and its implications. It particularly focuses on the theoretical challenges faced by labour theory of value and its social and economic implications from a critical perspective. It also offers alternatives by analysing future trends and developments for the sustainable use of AI. It argues for developing policies on the use of AI and big data to protect labour, advance human development and enhance social welfare by reducing risks.",

keywords = "Platforms, Big data, Artificial intelligence, Internet-of-Things, Disintermediation, Sharing economy, Bourgeoisie, Proletariat, Labour power",

author = "Nigel Walton and Bhabani Nayak",

note = "{\textcopyright} 2021, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/ Copyright {\textcopyright} and Moral Rights are retained by the author(s) and/ or other copyright owners. A copy can be downloaded for personal non-commercial research or study, without prior permission or charge. This item cannot be reproduced or quoted extensively from without first obtaining permission in writing from the copyright holder(s). The content must not be changed in any way or sold commercially in any format or medium without the formal permission of the copyright holders. ",

year = "2021",

month = may,

doi = "10.1016/j.techfore.2021.120576",

language = "English",

volume = "166",

journal = "Technological Forecasting and Social Change",

issn = "0040-1625",

publisher = "Elsevier",

}

TY - JOUR

T1 - Rethinking of Marxist perspectives on big data, artificial intelligence (AI) and capitalist economic development

AU - Walton, Nigel

AU - Nayak, Bhabani

N1 - © 2021, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/ Copyright © and Moral Rights are retained by the author(s) and/ or other copyright owners. A copy can be downloaded for personal non-commercial research or study, without prior permission or charge. This item cannot be reproduced or quoted extensively from without first obtaining permission in writing from the copyright holder(s). The content must not be changed in any way or sold commercially in any format or medium without the formal permission of the copyright holders.

PY - 2021/5

Y1 - 2021/5

N2 - AI and big data are not ideologically neutral scientific knowledge that drives economic development and social change. AI is a tool of capitalism which transforms our societies within an environment of technological singularity that helps in the expansion of the capitalist model of economic development. Such a development process ensures the precarity of labour. This article highlights the limits of traditional Marxist conceptualisation of labour, value, property and production relations. It argues for the rethinking of Marxist perspectives on AI led economic development by focusing on conceptual new interpretation of bourgeois and proletariat in the information driven data-based society. This is a conceptual paper which critically outlines different debates and challenges around AI driven big data and its implications. It particularly focuses on the theoretical challenges faced by labour theory of value and its social and economic implications from a critical perspective. It also offers alternatives by analysing future trends and developments for the sustainable use of AI. It argues for developing policies on the use of AI and big data to protect labour, advance human development and enhance social welfare by reducing risks.

AB - AI and big data are not ideologically neutral scientific knowledge that drives economic development and social change. AI is a tool of capitalism which transforms our societies within an environment of technological singularity that helps in the expansion of the capitalist model of economic development. Such a development process ensures the precarity of labour. This article highlights the limits of traditional Marxist conceptualisation of labour, value, property and production relations. It argues for the rethinking of Marxist perspectives on AI led economic development by focusing on conceptual new interpretation of bourgeois and proletariat in the information driven data-based society. This is a conceptual paper which critically outlines different debates and challenges around AI driven big data and its implications. It particularly focuses on the theoretical challenges faced by labour theory of value and its social and economic implications from a critical perspective. It also offers alternatives by analysing future trends and developments for the sustainable use of AI. It argues for developing policies on the use of AI and big data to protect labour, advance human development and enhance social welfare by reducing risks.

KW - Platforms

KW - Big data

KW - Artificial intelligence

KW - Internet-of-Things

KW - Disintermediation

KW - Sharing economy

KW - Bourgeoisie

KW - Proletariat

KW - Labour power

U2 - 10.1016/j.techfore.2021.120576

DO - 10.1016/j.techfore.2021.120576

M3 - Article

SN - 0040-1625

VL - 166

JO - Technological Forecasting and Social Change

JF - Technological Forecasting and Social Change

M1 - 120576

ER -

Rethinking of Marxist perspectives on big data, artificial intelligence (AI) and capitalist economic development

Abstract

Bibliographical note

Keywords

UN SDGs

Access to Document

Fingerprint

Cite this