Using a semi analytic model for galaxy formation we investigate the effects of Black Hole accretion triggered by disk instabilities (DI) in isolated galaxies on the evolution of AGN. Specifically, we took on, developed and expanded the Hopkins & Quataert (2011) model for the mass inflow following disk perturbations, and compare the corresponding evolution of the AGN population with that arising in a scenario where galaxy interactions trigger AGN (IT mode). We extended and developed the DI model by including different disk surface density profiles, to study the maximal contribution of DI to the evolution of the AGN population. We obtained the following results: i) for luminosities corresponding to $M_{1450}\gtrsim -26$ the DI mode can provide the BH accretion needed to match the observed AGN luminosity functions up to $z ≈ 4.5$; in such a luminosity range and redshift, it can compete with the IT scenario as the main driver of cosmological evolution of AGN; ii) The DI scenario cannot provide the observed abundance of high-luminosity QSO with $M_{1450}\lesssim -26$ AGN, as well as the abundance of high-redhshift $z ≈ 4.5$ QSOs with $M_{1450}\lesssim -24$, while the IT scenario provides an acceptable match up to $z ≈ 6$, as found in our earliest works; iii) The dispersion of the distributions of Eddington ratio for low- and intermediate-luminosity AGN (bolometric $L_{AGN}$ = $10^{43}$ - $10^{45}$ erg/s) is predicted to be much smaller in the DI scenario compared to the IT mode; iv) The above conclusions are robust with respect to the explored variants of the Hopkins & Quataert (2011) model. We discuss the physical origin of our findings, and how it is possible to pin down the dominant fueling mechanism in the low-intermediate luminosity range $M_{1450}\gtrsim -26$ where both the DI and the IT modes are viable candidates as drivers for the AGN evolution. ; Comment: Accepted for publication in Astronomy & Astrophysics, 24 pages, 8 figures; updated references