The Feeling Economy

How Artificial Intelligence Is Creating the Era of Empathy

Authors: Rust, Roland, Huang, Ming-Hui

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  • Defines the emerging Feeling Economy in response to AI embracing analytical and intuitive tasks
  • Examines how management and consumer behavior are impacted by AI
  • Explains the role that demographics and population density play in the accelerated emergence of the Feeling Economy
  • Explores the moral, ethical, and governance implications of the Feeling Economy
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eBook 21,39 €
price for Spain (gross)
  • ISBN 978-3-030-52977-2
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 25,99 €
price for Spain (gross)
  • ISBN 978-3-030-52976-5
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
  • The final prices may differ from the prices shown due to specifics of VAT rules
About this book

As machines are trained to “think,” many tasks that previously required human intelligence are becoming automated through artificial intelligence. However, it is more difficult to automate emotional intelligence, and this is where the human worker’s competitive advantage over machines currently lies. This book explores the impact of AI on everyday life, looking into workers’ adaptation to these changes, the ways in which managers can change the nature of jobs in light of AI developments, and the potential for humans and AI to continue working together.

The book argues that AI is rapidly assuming a larger share of thinking tasks, leaving human intelligence to focus on feeling. The result is the “Feeling Economy,” in which both employees and consumers emphasize feeling to an unprecedented extent, with thinking tasks largely delegated to AI. The book shows both theoretical and empirical evidence that this shift is well underway. Further, it explores the effect of the Feeling Economy on our everyday lives in the areas such as shopping, politics, and education. Specifically, it argues that in this new economy, through empathy and people skills, women may gain an unprecedented degree of power and influence. 

This book will appeal to readers across disciplines interested in understanding the impact of AI on business and our daily lives. It represents a bold, potentially controversial attempt to gauge the direction in which society is heading.

About the authors

Roland T. Rust is Distinguished University Professor, David Bruce Smith Chair in Marketing at the Robert H. Smith School of Business, and Founder and Executive Director of the Center for Excellence in Service at the University of Maryland, USA.

Ming-Hui Huang is Distinguished Professor of Information Management at National Taiwan University, Taiwan. Her research focuses on the intersection of technology and strategy, and its impact on service.

Reviews

“AI is already turning our world upside down, taking over much of thinking and decision making that used to be the privilege of humans. And you ain’t seen nothing yet. Don’t be scared! Business professors Rust and Huang are the perfect guides to lead you through the unchartered territory of this enormous transformation. Their conclusion? The outcome will be a ‘Feeling Economy’ that provides new opportunities for everybody who acts on one simple fact: in the future AI will do the thinking, and humans will do the feeling. This extraordinary book provides you with the insights and skills to stay ahead in the Feeling Economy rather than be left behind.” (Bernd Schmitt, Robert D. Calkins Professor of International Business, Columbia University)
“Rust and Huang's The Feeling Economy is an easy-to-read and fast-paced book that provides a framework for thinking about how AI will change not only the economy, but everyday life. They describe how the advance of AI capabilities is changing jobs, education, politics, governance and ethics. Rust and Huang are leading business scholars, so they also provide a roadmap for the managerial implications of AI. They have packaged timely and accessible information, and seasoned it all with just the right amount of provocative opinions, intended to get the reader thinking in a new way about their hopes, dreams and fears about our future with AI.” (Jim Spohrer, Director, Cognitive OpenTech, IBM) 
“This book by award-winning business scholars, Rust and Huang, focuses on the human implications of the development of AI. Using a simple but powerful conceptualization of the levels of intelligence of AI (from mechanical, to thinking, to feeling), the book shows how AI is increasingly assuming thinking tasks, pushing humans (both managers and consumers) toward a focus on interpersonal relationships and empathy. The shift in economic processes from physical goods to services, and intersection of the service economy with the levels of intelligence are uniquely captured. The book highlights the fundamental cognitive implications of AI growth with respect to prior technological waves. The book is accessible, but profound. This book gives a practical roadmap to provide a nuanced understanding of the opportunities and potential threats of AI growth for societal consideration.” (Saurabh Mishra, Director of the AI Index Program, Stanford Institute for Human-Centered Artificial Intelligence (HAI))

Table of contents (16 chapters)

Table of contents (16 chapters)
  • Introduction

    Pages 1-6

    Rust, Roland T. (et al.)

  • The Physical Economy

    Pages 7-21

    Rust, Roland T. (et al.)

  • The Thinking Economy

    Pages 23-39

    Rust, Roland T. (et al.)

  • The Feeling Economy

    Pages 41-61

    Rust, Roland T. (et al.)

  • The Age of Emoji

    Pages 63-68

    Rust, Roland T. (et al.)

Buy this book

eBook 21,39 €
price for Spain (gross)
  • ISBN 978-3-030-52977-2
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 25,99 €
price for Spain (gross)
  • ISBN 978-3-030-52976-5
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
The Feeling Economy
Book Subtitle
How Artificial Intelligence Is Creating the Era of Empathy
Authors
Copyright
2021
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG, part of Springer Nature
eBook ISBN
978-3-030-52977-2
DOI
10.1007/978-3-030-52977-2
Softcover ISBN
978-3-030-52976-5
Edition Number
1
Number of Pages
XV, 179
Number of Illustrations
7 b/w illustrations, 4 illustrations in colour
Topics