Why do We Need Robotic & AI Governance? An Analysis of the (Socio-) Economic Implications of Robotics and Artificial Intelligence

This paper illustrates the necessity of a Code of Conduct for Robotics and Artificial Intelligence – ethical and moral guidelines for the development and use of these technologies – by analyzing some of the potential (socio-) economic effects that might arise from technological advances in these fields. Contrary to other works in the field of roboethics, the authors did not strive to analyze individual cases that are of interests for ethicists and moral philosophers, but want to offer a broad, holistic and economic view on the effects of robotics and artificial intelligence on our future economy and, in the second instance therefore also society, as well as on the concept of Robotic & AI Governance for self-regulation of ethical, moral, sociocultural, socio-political and socio-economic questions, using a market mechanism.