Summary Of Ajay Agrawal Joshua Gans Avi Goldfarb S Prediction Machines
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Summary of Ajay Agrawal, Joshua Gans & Avi Goldfarb's Prediction Machines
Author: Everest Media,
language: en
Publisher: Everest Media LLC
Release Date: 2022-06-10T22:59:00Z
Please note: This is a companion version & not the original book. Sample Book Insights: #1 AI is everywhere. It is in our phones, cars, shopping experiences, romantic matchmaking, hospitals, banks, and all over the media. No wonder corporate directors, CEOs, vice presidents, managers, team leaders, and entrepreneurs are anxiously racing to learn about AI: it is about to fundamentally change their businesses. #2 The new wave of artificial intelligence does not bring us intelligence, but rather a critical component of intelligence: prediction. Each startup in our lab is based on the benefits of better prediction. We provide you with an understanding of AI’s impact on management and decisions, as well as on the economy. #3 Prediction Machines is not a recipe for success in the AI economy. Instead, it emphasizes trade-offs. More data means less privacy. More speed means less accuracy. More autonomy means less control. #4 The current wave of advances in artificial intelligence doesn’t actually bring us intelligence, but instead a critical component of intelligence: prediction. Prediction is a central input into decision-making.
Prediction Machines
Author: Ajay Agrawal
language: en
Publisher: Harvard Business Press
Release Date: 2018-04-17
"What does AI mean for your business? Read this book to find out." -- Hal Varian, Chief Economist, Google Artificial intelligence does the seemingly impossible, magically bringing machines to life--driving cars, trading stocks, and teaching children. But facing the sea change that AI will bring can be paralyzing. How should companies set strategies, governments design policies, and people plan their lives for a world so different from what we know? In the face of such uncertainty, many analysts either cower in fear or predict an impossibly sunny future. But in Prediction Machines, three eminent economists recast the rise of AI as a drop in the cost of prediction. With this single, masterful stroke, they lift the curtain on the AI-is-magic hype and show how basic tools from economics provide clarity about the AI revolution and a basis for action by CEOs, managers, policy makers, investors, and entrepreneurs. When AI is framed as cheap prediction, its extraordinary potential becomes clear: Prediction is at the heart of making decisions under uncertainty. Our businesses and personal lives are riddled with such decisions. Prediction tools increase productivity--operating machines, handling documents, communicating with customers. Uncertainty constrains strategy. Better prediction creates opportunities for new business structures and strategies to compete. Penetrating, fun, and always insightful and practical, Prediction Machines follows its inescapable logic to explain how to navigate the changes on the horizon. The impact of AI will be profound, but the economic framework for understanding it is surprisingly simple.
Understanding the Blockchain Economy
Blockchains are the distributed ledger technology that powers Bitcoin and other cryptocurrencies. But blockchains can be used for more than the transfer of tokens – they are a significant new economic infrastructure. This book offers the first scholarly analysis of the economic nature of blockchains and the shape of the blockchain economy. By applying the institutional economics of Ronald Coase and Oliver Williamson, this book shows how blockchains are poised to reshape the nature of firms, governments, markets, and civil society.