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Global dematerialization, the renaissance of Artificial Intelligence, and the global stakeholder capitalism model of digital platforms: current challenges and future directions

Author

Listed:
  • Harold Paredes-Frigolett

    (Universidad Diego Portales)

  • Andreas Pyka

    (University of Hohenheim)

Abstract

In this article, we explain how the data-driven approach to Artificial Intelligence enabled by global demateralization and embraced by digital platforms leads to an “excess of unutilized big data” and why the need to unlock the value hidden in increasingly larger volumes of big data leads to a new model of how digital platforms drive and profit from innovation that departs from the standard model. We also explain how this new model is based on a dual positioning of big data as a core and as a generalized complementary asset in the “extended innovation ecosystems” of digital platforms and how the rise of these extended innovation ecosystems ultimately leads to the rise of the “global stakeholder capitalism model of digital platforms” as the new economic model under which digital platforms operate today. We conclude with a discussion of some of the challenges and future directions of this new model at the intersection of Artificial Intelligence, innovation and societal transformation.

Suggested Citation

  • Harold Paredes-Frigolett & Andreas Pyka, 2023. "Global dematerialization, the renaissance of Artificial Intelligence, and the global stakeholder capitalism model of digital platforms: current challenges and future directions," Journal of Evolutionary Economics, Springer, vol. 33(3), pages 671-705, July.
    • Handle: RePEc:spr:joevec:v:33:y:2023:i:3:d:10.1007_s00191-023-00825-7
    DOI: 10.1007/s00191-023-00825-7
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    Keywords

    Digital platforms; Global dematerialization; Big data; Extended innovation ecosystems; The global stakeholder capitalism model of digital platforms;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • 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
    • O36 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Open Innovation

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