The question is not whether AI will have an impact, but how we position ourselves so that it serves as a driver of inclusive development.
Artificial intelligence (AI) has moved from being a futuristic promise to becoming an everyday reality. With tools such as ChatGPT and Midjourney, a world of possibilities has opened up, ranging from process optimization to the creation of new products and services. The feeling that innovation is within anyone’s reach is undeniable.
But beyond the enthusiasm and hype surrounding the technology, what is its competitive impact? To answer this question, it is useful to look back.
The current flourishing of AI closely resembles the excitement surrounding the “Uber for X” phenomenon a decade ago: everyone seemed to have a business idea that would become an app. It gave the impression that digitalization was democratizing the opportunity to create a billion-dollar business. And in some cases, it did—but who were the real winners of that process?
The reality is that, within a short period of time, the digital economy became highly concentrated, with well-established hierarchies at the global level. The main winners were the handful of companies—the Silicon Valley technology giants, the Big Tech firms—that design and control the hardware and fundamental services on which the entire digital economy operates: the digital infrastructure. A second layer consists of regional and national platforms, as well as other technology-based companies that, while dependent on Big Tech, have managed to consolidate highly successful business models. A third layer includes the vast network of traditional companies, SMEs, entrepreneurs, and platform workers who rely on these ecosystems to operate.
This concentration was not accidental, but rather the result of characteristics inherent to digital markets: network effects mean that the value of a platform increases with each new user, creating a concentration dynamic in which “the winner takes all.” Added to this is the governing power of those who control digital infrastructure, who not only facilitate interactions but also unilaterally design the rules of the game. Algorithmic management and automation make it possible to achieve unprecedented economies of scale and scope. Finally, the capture and monetization of data has become a strategic asset, enabling platforms to expand into adjacent markets with remarkable ease and further reinforce their dominance.