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Power and prediction

the disruptive economics of artificial intelligence
Author: Search for this author Agrawal, Ajay (author); Gans, Joshua, 1968- (author); Goldfarb, Avi (author)
Statement of Responsibility: Ajay Agrawal, Joshua Gans, Avi Goldfarb
Year: [2022]
Publisher: Boston [Massachusetts], Harvard Business Review Press
Media group: eBook/eResource
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Barcode: 01155832 Locations: 1 user licence Status: Online

Content

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.

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Statement of Responsibility: Ajay Agrawal, Joshua Gans, Avi Goldfarb
Year: [2022]
Publisher: Boston [Massachusetts], Harvard Business Review Press
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ISBN: 9781647824204
ISBN (2nd): 9781647824198
Description: xiv, 268 Seiten, Illustrationen
Tags: Artificial Intelligence, Decision Making, Prediction of Occupational Success, Forecast, Disruptive Technology, AI, KI, Künstliche Intelligenz, Vorhersage von beruflichem Erfolg, Prognose, Vorhersage, Voraussage, Disruptive Innovation, Entscheidung, Entscheidungsfindung, Decision
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Language: eng
Media group: eBook/eResource