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Power and Prediction

The Disruptive Economics of Artificial Intelligence

Gebonden Engels 2022 9781647824198
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Samenvatting

Disruption resulting from the proliferation of AI is coming. The authors of the bestselling Prediction Machines can help you prepare. Artificial intelligence (AI) has impacted many industries around the world-banking and finance, pharmaceuticals, automotive, medical technology, manufacturing, and retail.

But it has only just begun its odyssey toward cheaper, better, and faster predictions that drive strategic business decisions. When prediction is taken to the max, industries transform, and with such transformation comes disruption. What is at the root of this? In their bestselling first book, Prediction Machines, eminent economists Ajay Agrawal, Joshua Gans, and Avi Goldfarb explained the simple yet game-changing economics of AI.

Now, in Power and Prediction, they go deeper, examining the most basic unit of analysis: the decision. The authors explain that the two key decision-making ingredients are prediction and judgment, and we perform both together in our minds, often without realizing it. The rise of AI is shifting prediction from humans to machines, relieving people from this cognitive load while increasing the speed and accuracy of decisions.

This sets the stage for a flourishing of new decisions and has profound implications for system-level innovation. Redesigning systems of interdependent decisions takes time-many industries are in the quiet before the storm-but when these new systems emerge, they can be disruptive on a global scale. Decision-making confers power.

In industry, power confers profits; in society, power confers control. This process will have winners and losers, and the authors show how businesses can leverage opportunities, as well as protect their positions. Filled with illuminating insights, rich examples, and practical advice, Power and Prediction is the must-read guide for any business leader or policymaker on how to make the coming AI disruptions work for you rather than against you.

Specificaties

ISBN13:9781647824198
Taal:Engels
Bindwijze:gebonden
Aantal pagina's:288
Druk:1
Verschijningsdatum:15-11-2022
Hoofdrubriek:Economie
ISSN:

Expertrecensies (1)

Power and prediction - ‘Zorgvuldige uitleg van de impact van AI’
Freija van Duijne | 14 juni 2023
De snelle ontwikkeling van AI heeft de afgelopen tijd gezorgd voor veel aandacht voor een technologie die tot voor kort vooral de belangstelling had van toekomstverkenners. AI is een systeeminnovatie met grote gevolgen voor onze economie. De Canadese economen Ajay Agrawal, Joshua Gans, Avi Goldfarb geven in ‘Power and prediction’ een zorgvuldige uitleg van de impact van AI op de manier waarop bedrijven werken.
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