Algorithms, machine intelligence, big data. General considerations

We are experiencing astonishing developments in the areas of big data and artificial intelligence. They follow a pattern that we have now been observing for decades: according to Moore's Law,the performance and efficiency in the area of elementary arithmetic operations increases a thousand-fold every 20 years. Although we have not achieved the status where in the singular sense machines have become as "intelligent" as people, machines are becoming increasingly better. The Internet of Things has again helped to massively increase the efficiency of machines. Big data and suitable analytics do the same. If we let these processes simply continue, our civilization may be endangerd in many instances. If the "containment" of these processes succeeds in the context of a reasonable political global governance, a worldwide eco-social market economy, andan economy of green and inclusive markets, many desirable developments that are advantageous for our future may result. Then, at some point in time, the constant need for more and faster innovation may even stop. However, this is anything but certain. We are facing huge challenges.