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What is Exclusion Principle

Chapter 8
Handbook of Research on Applied AI for International Business and Marketing Applications
Applies to goods where the owner may exclude others from the use unless they pay.
Published in Chapter:
Economic AI Literacy: A Source of Competitive Advantage
Dirk Nicolas Wagner (Karlshochschule International University, Germany)
Copyright: © 2021 |Pages: 18
DOI: 10.4018/978-1-7998-5077-9.ch008
Abstract
This chapter introduces the concept of economic AI literacy as a source of competitive advantage in a world where artificial intelligence (AI) complements and transforms business models. The purpose of economic AI literacy is to allow for enhanced strategic decision making in firms that either offer and/or use AI. Data and information goods, economics of networks, and economic agents in artificially intelligent firms are introduced as basic elements of economic AI literacy. To illustrate application, the case of TensorFlow and related cases are presented. The discussion highlights the strategic relevance of economic reasoning in the light of the expected effects of AI on business transformation.
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