The following is a draft abstract of my presentation at the World Future Society

General Assembly in Washington, D.C. next month.

(See < http://www.wfs.org/wfs/9ga.htm> )

The text is slightly over the limit of 150 words, maybe it’s OK.

I would be happy to receive any comments on this text.

You can find the latest version of this text at

http://www.lucifer.com/~sasha/HEDG/wfs99_abstract.html

--------------------- Draft 0.75 – July 1, 1999 ---------------------

Alexander Chislenko, Intelligenesis Corporation

Title: The Hypereconomy of Knowledge

Keywords: information technology, economy, artificial intelligence

Symbolic communication mechanisms, which have always played a crucial role in society, are now undergoing revolutionary changes, bringing us to the brink of a major new phase in the development of economic systems. New distributed knowledge processing mechanisms allow the creation of innovative methods for assembling, analyzing, and targeting economic and social data. New technologies are democratizing the financial system by empowering investors with knowledge-gathering abilities and direct access to the market. The intelligent software and its human users form a distributed synergistic human-machine intelligence that not only optimizes the utilization of economic resources, but aggregates and distributes knowledge about their value and draws rational conclusions about economic data flows and their relationship to world events. This emerging economic environment with extremely fast and reliable communications, negligible transaction costs and non-physical character is dramatically different from all previous distributed systems.

Starting from limited applications of electronic commerce and artificial intelligence, today’s developments promise to build dramatically new socioeconomic mechanisms and bring them to the level of globally distributed synthetic consciousness within the next century.