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Big Data, Algorithms, AI, Ethics, and the Economy: An Aristotelian Perspective

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  • Ricardo F. Crespo

    (Universidad Austral)

Abstract

While a growing body of literature points to the advantages of using algorithms in big data processing, as well as applying them to artificial intelligence (AI), in order to achieve a desired output, it also warns about the pitfalls and perils in algorithm decision-making. Algorithms and AI are the machines and big data is the new oil. Criticisms come from different fields: legal, social, political, medical, and the economic. They argue that algorithms have the power to predict our wishes and behavior and, subsequently, to manage our life: they decide the music we listen to, the news we read, the information we obtain, the content we see online, the movies we watch, the health care we receive, the products we buy, and so on.

Suggested Citation

  • Ricardo F. Crespo, 2023. "Big Data, Algorithms, AI, Ethics, and the Economy: An Aristotelian Perspective," Working Papers 232, Red Nacional de Investigadores en Economía (RedNIE).
    • Handle: RePEc:aoz:wpaper:232
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    File URL: https://rednie.eco.unc.edu.ar/files/DT/232.pdf
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    References listed on IDEAS

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    1. repec:ulb:ulbeco:2013/249805 is not listed on IDEAS
    2. Ljubica Nedelkoska & Glenda Quintini, 2018. "Automation, skills use and training," OECD Social, Employment and Migration Working Papers 202, OECD Publishing.
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