The Economy of Algorithms by Marek Kowalkiewicz

Welcome to the economy of algorithms. It's here and it's growing.

In the past few years, we have been flooded with examples of impressive technology. Algorithms have been around for hundreds of years, but they have only recently begun to 'escape' our understanding. We are so impressed by what they can do that we give them a lot of agency. But because they are so hard to comprehend, this leads to all kinds of unintended consequences.

In the twentieth century, we had the economy of corporations. In the first two decades of the twenty-first century, we saw the emergence of the economy of people, otherwise known as the digital economy, enabled by the internet. Now we're seeing a new economy take shape: the economy of algorithms.