DATA AS CAPITAL: THE VALUE OF INFORMATION IN THE DIGITAL ECONOMY
DOI:
https://doi.org/10.5281/zenodo.15687907Abstract
This report posits that data has emerged as a distinct and critical form of capital, standing alongside traditional financial and human capital in its capacity to generate new digital products and services. Economically, capital is defined as a produced good necessary for further production, and data—as recorded information—literally fulfills this criterion.
References
Acemoglu, D., & Restrepo, P. (2019). Artificial Intelligence, Automation, and Work. NBER Working Paper No. 24196.
Brynjolfsson, E., Rock, D., & Syverson, C. (2017). Artificial Intelligence and the Modern Productivity Paradox: A Clash of Expectations and Statistics. NBER Working Paper No. 24001.
Coyle, D., & Manzia, P. (2020). Modernizing Economic Statistics: Data as a Strategic Asset. Bennett Institute for Public Policy.
Organization for Economic Co-operation and Development (OECD). (2019). Going Digital: Shaping Policies, Improving Lives.
Organization for Economic Co-operation and Development (OECD). (2021). Enhancing Access to and Sharing of Data: Reconciling Risks and Benefits for Data Re-use across Societies.
Wang, Y., Kung, L., & Byrd, T. A. (2018). Big data analytics: Understanding its capabilities and potential benefits for healthcare organizations. Technological Forecasting and Social Change, 126, 3–13.
Google Cloud. (2023). Data Asset Value Framework.