Algorithms Shaping the Future

Abstract

This chapter discusses the relevance of algorithms in modern society and their role in shaping our future lifestyle. This is a crucial issue to humanity, forced to interact with intelligent machines controlled by powerful algorithms fully capable of commanding people, changing business models, and reshaping society. We may be approaching the point of no return, thus delivering Norbert Wiener’s vision of cybernetics, facilitating the control of human beings. After providing a proper context for comprehension of algorithms and the associated technological improvements, we analyze the elements behind the new digital economy, sharing technical insights about algorithms, before evaluating their major contributing factors to the betterment of our society. Finally, we provide advice to entrepreneurs, managers, and policymakers, and advance ethical concerns before describing our contribution to the overall project of Business 2025: Sustainability and Digital Transformation.