Platforms, Big Data and New Forms of Capital Accumulation

Bhabani Shankar Nayak and Nigel Walton
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Bhabani Shankar Nayak: London Metropolitan University
Nigel Walton: University of Portsmouth

Chapter 4 in Political Economy of Artificial Intelligence, 2024, pp 73-94 from Springer

Abstract: Abstract The classical Marxist framework for understanding capitalist accumulation falls short in capturing the complexities of contemporary capitalism, particularly influenced by techno-feudalism, and the rise of phenomena such as “platforms” and “big data”. These factors wield significant influence over production methods, labour dynamics, pricing strategies and market structures. In today’s economic landscape, “digital platforms” and the vast reservoirs of “big data” have seamlessly integrated into the operational fabric of production, distribution and exchange networks, serving as fundamental drivers in ongoing processes of capitalist accumulation. This study builds upon established theoretical paradigms concerning AI and the evolving mechanisms of capitalist accumulation, with a specific focus on platform capitalism. By delineating emerging trends and patterns of data-driven accumulation, this chapter contributes to a deeper understanding of contemporary economic dynamics.

Date: 2024
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DOI: 10.1007/978-3-031-62308-0_4

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