Speaker
Description
Abstract. The concept of innovation, linked to the idea of economic singularity, is becoming increasingly relevant in the context of the rapid transformations driven by digitalization, artificial intelligence, and globalization. This article aims to analyze how economic singularity—defined as the point at which technological progress produces exponential and irreversible changes in economic structures—influences contemporary and future business models. The study explores the interdependence between innovation and competitive advantage, highlighting the role of emerging technologies in redefining value, productivity, and market relationships. Recently, numerous publications and political strategies have emerged at European and global level regarding the need for economic innovation based on advanced technologies and disruptive innovations, such as artificial intelligence, big data, and fintech. All these technologies bring with them various benefits, such as increased labor productivity, replacement of heavy and repetitive work, etc. At the same time, various questions arise in society, at the state level, in academic circles, situations in which the level of innovation can get out of control.
Research objective: How the convergence of advanced technologies (AI, blockchain, automation, etc.) can lead to a fundamental change in the structure of economies and financial markets. What will the global economy look like in the near and distant future, given that disruptive technologies could reach a point of economic "singularity" where changes become impossible to anticipate?
Methodologically, the research combines a theoretical analysis of the literature with an examination of current trends in the business environment, including automation, platformization, and the data-driven economy.The research methods used are qualitative analysis, observation and trend analysis, synthesis, and simulation. Studying economic effects using concepts from physics.
The research results will show how innovations in technology and the global economy can lead to a point of singularity, where rapid changes are so significant that they become difficult to predict. Expected results include: transformation of business models; increased automation and artificial intelligence; emerging economic and financial systems; social and economic challenges. The results suggest that organizations that adopt innovative strategies focused on flexibility, adaptability, and the integration of disruptive technologies are significantly more likely to thrive in an economic environment characterized by uncertainty and rapid change. At the same time, the risks associated with economic singularity—such as labor market polarization and the concentration of economic power—are discussed.
Key words: economic singularity, technological innovations, artificial intelligence, labor market
Classification JEL O33
