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The Economy of Algorithms: AI and the Rise of the Digital Minions

Marek Kowalkiewicz

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Summary

Marek Kowalkiewicz examines algorithms as actors in the economy. He follows their spread into work and daily life, the opportunities they create, and the unintended effects of giving them more control. The final part presents operating principles for people who must work with these systems. An author-published extract uses Thomas Peterffy’s automated trading and keyboard robot as an early example.

  • SourceThe Economy of Algorithms — Bristol University Press · Description, contents and paperback metadata: 5 March 2024, 240 pages, ISBN 9781529242461
  • SourceAges-old agents — author’s book extract · Opening labels following text as extract from his book; Peterffy/Nasdaq paragraphs and robot response

Why read it Our view

Use the Peterffy example to examine the full path from a software decision to an action in the world. The wider book gives a basis for deciding which work to give an algorithm and where people must retain control. Treat an automated system’s effects on other users as part of its design.

Written about

  • Thomas PeterffyCase study
    Kowalkiewicz’s own published extract identifies Peterffy’s automated trading and the robot that entered orders as an early algorithmic-agent case. This is coverage within a wider book, not a biography.
    Source