The theory of "Creative Destruction", considered the final phase of Schumpeter's work, has been the key to the success of Silicon Valley and other technology-leading firms today. Firms that innovate on the production function by using unorthodox paths in technology are disrupting routine actions and radically changing people's lives by innovating in a disruptive way while reinventing new ways. Schumpeterian innovations change the routine and traditional business conditions by realizing a new economic equilibrium and innovation in the production function. Silicon Valley is a concrete example with numerous examples of Schumpeterian innovations. Today, the use of artificial intelligence and artificial intelligence-related applications and the expansion of their areas of use cause a Schumpeterian process of creative destruction, causing a destructive but at the same time creative cycle such as the use of artificial intelligence within existing technologies, the increase in the opportunities provided by the applications and the replacement of old and new technology. Therefore, today, the widespread use of Artificial Intelligence (AI) is one of the most significant technological advancements of recent times. AI now encompasses a wide range of fields, and its increasing prevalence will significantly change how economies and societies operate. The question is, at what point will these changes be considered as an opportunity, and what will be the short-term costs that societies will have to bear to adapt to this shift? Additionally, what economic, political, legal/judicial policies will be needed to regulate the impact of AI?
This study aims to investigate the impact of artificial intelligence on other research areas, especially economics. Although artificial intelligence and technologies emerging after artificial intelligence are in the embryo stage scare societies and existing firms and companies, it is essential to research the existing uncertainty to eliminate uncertainties and reveal or discuss potential benefits and harms. For this reason, it is thought that such a study can be an essential resource for technology companies and researchers working in the relevant field. After the artificial intelligence part of the study is completed, a book project can be done as a series for each creative destruction technology that initiates the creative destruction process and will follow artificial intelligence.