(Societal, Economic, Ethical and Legal Challenges of the Digital Revolution: From Big Data to Deep Learning, Artificial Intelligence, and Manipulative Technologies)
« In a globalized world, companies and countries are exposed to a harsh competition. This produces a considerable pressure to create more efficient systems a tendency which is re-inforced by high debt levels. Big Data seems to be a suitable answer to this. Mining Big Data offers the potential to create new ways to optimize processes,identify interdependencies and make informed decisions.
There’s no doubt that Big Data creates new business opportunities, not just because of its application in marketing, but also because information itself is becoming monetized.
Technology gurus preach that Big Data is becoming the oil of the 21st century, a new commodity that can be tapped for profit.
As the virtual currency BitCoin temporarily became more valuable than gold, it can be even literally said that data can be mined into money in a way which would previously have been considered a fairy tale. »
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by Dirk Helbing (ETH Zurich)
Source: http://arxiv.org/