INNOVATION
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Fighting back against the digital barons
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The dynamics at play in today’s AI industry will reshape the global economy. Terence Tse, Mark Esposito, Olaf Groth and Joshua Entsminger look at how to respond
We are in the midst of a revolution in intelligent automation. New products, new services, and new markets are developing fast, fuelled by an acquisitions race in which the digital giants are united in placing multi-billion dollar bets on the ability of artificial intelligence (AI) to drive intelligent automation at scale in the years ahead. This race is turbo-charging the trend for global platforms to gain market power through digitization, which has reshaped sectors ranging from transportation to job search to banking and knowledge acquisition over the last decade. When it comes to AI, the critical mass of data, computational power, and cutting-edge talent accumulated by the giants has put them entirely out of reach of smaller competitors. The
Dialogue Q4 2019
digital giants are becoming a global oligopoly, with a stranglehold on production assets that will become critical for the rest of the global economy. Managers, entrepreneurs and policymakers alike need to be aware that a high concentration of advanced AI capabilities in few corporate
Power is consolidating quickly in the hands of the AI industry, creating a global oligopoly