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As far back as the industrial revolution, great leaps in technical innovation succeeded in transforming numerous manual tasks and processes that had been in existence for decades where humans had reached the limits of physical capacity. Artificial Intelligence (AI) offers this same transformative potential for the augmentation and potential replacement of human tasks and activities within a wide range of industrial, intellectual and social applications. The pace of change for this new AI technological age is staggering, with new breakthroughs in algorithmic machine learning and autonomous decision making engendering new opportunities for continued innovation. The impact of AI is significant, with industries ranging from: finance, retail, healthcare, manufacturing, supply chain and logistics all set to be disrupted by the onset of AI technologies. The study brings together the collective insight from a number of leading expert contributors to highlight the significant opportunities, challenges and potential research agenda posed by the rapid emergence of AI within a number of domains: technological, business and management, science and technology, government and public sector. The research offers significant and timely insight to AI technology and its impact on the future of industry and society in general.

We focus on both individual and local uncertainty to explain the innovation potential of entrepreneurs in the NUTS1 UK regions in 2005 and 2009. The ‘potential surprise function’ (Shackle, 1949) clarifying why sometimes promising business choices are truncated is taken as a determinant of an entrepreneur’s innovation decision. GEM (Global Entrepreneurship Monitor) data and data on psychological types are used in the empirical analysis. The econometric estimation strategy addresses both the issue of selection bias (due to uncertainty) and that of zero-inflated data (i.e., presence of only a few highly innovative actors in comparison to the majority in our sample). Findings suggest that local uncertainty is the predominant determinant of individual entrepreneurial choice. The regional effect appears to amount to about 4% of the innovation differences across NUTS1 UK regions, while almost one third of it is determined by the local level of uncertainty bias. Thus, the novelty of the present study is that it shows how differences in local cultural tolerance to uncertainty may explain differences in the quantity of truncated innovative ideas among localities.

The main aim of the paper is to explore the nature and consequences of intangible cultural capital, i.e., the local ‘milieu’ comprising inter alia attitudes and preferences, for the case study of Greece, 2002-2009. To pursue this study empirically, we combine basic economic and social indicators from two main sources: the EUROSTAT Regional Database and the European Social Survey (ESS). Employing a three-stage least squares (3SLS) model for both a normal and a pooled cross-sectional data set, we find that local cultural factors play an important role in the emergence and existence of spatial economic disparities in Greece. Most interestingly, among all the approximations of intangible cultural capital examined, the historical cultural variable appeared to show the most consistent results throughout all specifications. This suggests the existence of cultural persistence traits in local economic development in Greece, a phenomenon which merits further investigation.

This paper presents an operationalization of a mixed Bourdieu–Mincer-type model that seeks to find evidence for individual and local cultural capital effects on human capital 'ability'. We aim to compare these effects for native workers and immigrants (as well as between immigrants themselves) in a locality. The main objective of the paper is twofold: 1) to examine how ethnic background affects immigrants' schooling results; and 2) to explore the link between the wage differential of immigrant young workers entering the labour market in the context of a locally varying cultural milieu. Our study utilises the 2007–2009 data set for higher professional education (termed HBO in Dutch) graduates from Maastricht University. We use a two-stage least squares (2SLS) estimation method to analyse empirically a system of two equations. In the first Bourdieu-type equation, individual cultural capital, together with school type/quality, explains the individual's schooling achievement. Next, this 'schooling achievement' is employed as an explanatory variable in the second Mincer-type equation, which examines wage differential effects. Our Mincer-type equation is next augmented with a control for the local cultural milieu. We find evidence of ethnic segregation with regard to the quality of educational institution to which immigrants have access, which naturally explains part of the wage differential effect. Moreover, we find that local cultural capital determines the size of the wage gap.

This paper presents an operationalization of a mixed Bourdieu–Mincer-type model that seeks to find evidence for individual and local cultural capital effects on human capital 'ability'. We aim to compare these effects for native workers and immigrants (as well as between immigrants themselves) in a locality. The main objective of the paper is twofold: 1) to examine how ethnic background affects immigrants' schooling results; and 2) to explore the link between the wage differential of immigrant young workers entering the labour market in the context of a locally varying cultural milieu. Our study utilises the 2007–2009 data set for higher professional education (termed HBO in Dutch) graduates from Maastricht University. We use a two-stage least squares (2SLS) estimation method to analyse empirically a system of two equations. In the first Bourdieu-type equation, individual cultural capital, together with school type/quality, explains the individual's schooling achievement. Next, this 'schooling achievement' is employed as an explanatory variable in the second Mincer-type equation, which examines wage differential effects. Our Mincer-type equation is next augmented with a control for the local cultural milieu. We find evidence of ethnic segregation with regard to the quality of educational institution to which immigrants have access, which naturally explains part of the wage differential effect. Moreover, we find that local cultural capital determines the size of the wage gap.

This paper introduces cultural gravity as a new concept for analyzing socio-economic disparities among immigrants. It tests the existence of cultural gravity effects on the geographic concentration and human capital productivity of immigrants. Using cultural distance as a proxy for the local cultural gravity potential, the paper seeks to capture empirical evidence of the presence of significant gravity effects of culture. The paper seeks to highlight three new research issues: (i) local productivity patterns and the immigrants? contribution to them; (ii) the spatial concentration preferences of different immigrant groups; and (iii) the full culture-based development (CBD) mechanism of a joint cultural impact on the concentration and productivity of local human capital. To provide empirical evidence, we compose a cross-sectional database for the EU15, comprising inter alia the World Value Survey and Eurostat Census data, initially explored by a multivariate statistical analysis. Next, we present an extended formulation of a gravity model analyzed with appropriate regression methods, in particular explored in a logit context and through a recursive 3SLS model. Our results clearly demonstrate the existence of a cultural gravity effect among immigrants. Finally, an interesting find is that cultural gravity plays also a significant role in the context of the above-mentioned CBD growth model. The gravity model applied considers as two opposing sides the world at large and the particular locality, thus allowing the local GDP to play a role in the formation of the spatial preference among migrants. There are three specific empirical details worth notice. First, the migrants preference is expressed through a dummy variable, which is 1 when the average concentration of immigrants from a particular origin is above the average concentration of this type of immigrants around the world. Second, the recursive model is a combination of Weberian-Bourdeuian rationale for the formation of human capital in a locality, and at a second step the locally shaped human capital concoction is plugged in into a Romer-minded production function. Third, cultural distance is an innovative concept introduced to gravity modelling, quantified by the cultural capital characterizing negative cultural milieu towards the 'different' and those introducing a change. This cultural capital is measured as a vector variable, a product of factor analysis with a bunch of cultural attitudes of interest.

The paper aims at testing Florida's concept of the Creative Class using panel data for 323 West German regions for the time period 1975-2004. We apply two different es-timation methods, a panel VAR for the complete data set and a dynamic system ap-proach based on GMM for a modified data set collapsed to six five-year periods. We find that the local concentration of the Creative Class has predictive power for the economic development of a region and tends to outperform traditional indicators of human capital. However, our results do not support Florida's assertion that the creative workers flock where the Bohemians are. According to our findings, the Creative Class is attracted by favorable economic conditions as indicated by employment growth or an increasing wage bill.

The paper aims at testing Florida's concept of the Creative Class using panel data for 323 West German regions for the time period 1975 - 2004. Applying a dynamic system approach based on GMM, we find that the local concentration of the Creative Class has predictive power for the economic development of a region and tends to outperform traditional indicators of human capital. However, our results do not support Florida's assertion that the creative workers flock where the Bohemians are. According to our findings, the Creative Class is attracted by favorable economic conditions as indicated by employment growth or an increasing wage bill.