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Trade Law in a Data-Driven Economy
[chapter]
2021
Artificial Intelligence and International Economic Law
Data, it is said, is the new oil. Treated as a raw material, once processed, once refined, it fuels the new economy. But unlike oil, data is not only nondepletable, it is also constantly generated and exponentially growing. Unlike oil, data exhaust from transactions is not waste but recycled for further use. And unlike oil, data is nonrivalrous as it can be exploited by multiple users. Despite the differences, the metaphor is powerful not only because data fuels the new economy, but also
doi:10.1017/9781108954006.003
fatcat:44zhzehcpjh5ddwh3swz66pnwu