A Literature Review about Technological Singularity in Economy

Abstract:

Technology, as science applied for solving problems related to the human society perpetuation and existence, dominates everyday life by directly and indirectly influencing future. Numerous studies in the field insist on the idea that the direction of evolution of technology is represented by the technological singularity dominated by simplicity, as a solution to complexity. Given these conditions, it appears normal for technological singularity to be assimilated and treated as an important issue from the perspective of the potential implications brought to economy, as a place of manifestation of technologies. This paper provides a thorough analysis of the literature on technological singularity, from the perspective of its taking-over into economy. For the economic field, it is clearly identified the link with technological singularity through smart technologies which are considered to trigger, at some point, a technological explosion and which, in theory, will replace, to a great extent, the human capital in the field of research and development. The originality of our approach consists of the identification of the level of assimilation of technological singularity on the directions specific to the economic field.
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