Title
Prediction machines : the simple economics of artificial intelligence / by Ajay Agrawal, Joshua Gans, and Avi Goldfarb.
ISBN
9781633695689 (electronic book)
1633695689 (electronic book)
9781633695672
1633695670
Published
Boston, Massachusetts : Harvard Business Review Press, [2018]
Copyright
©2018
Language
English
Description
1 online resource (x, 250 pages) : illustrations
Call Number
TA347.A78 .A385 2018eb
Dewey Decimal Classification
658/.0563
Summary
The idea of artificial intelligence--job-killing robots, self-driving cars, and self-managing organizations--captures the imagination, evoking a combination of wonder and dread for those of us who will have to deal with the consequences. But what if it's not quite so complicated? The real job of artificial intelligence, argue these three eminent economists, is to lower the cost of prediction. And once you start talking about costs, you can use some well-established economics to cut through the hype. The constant challenge for all managers is to make decisions under uncertainty. And AI contributes by making knowing what's coming in the future cheaper and more certain. But decision making has another component: judgment, which is firmly in the realm of humans, not machines. Making prediction cheaper means that we can make more predictions more accurately and assess them with our better (human) judgment. Once managers can separate tasks into components of prediction and judgment, we can begin to understand how to optimize the interface between humans and machines. More than just an account of AI's powerful capabilities, Prediction Machines shows managers how they can most effectively leverage AI, disrupting business as usual only where required, and provides businesses with a toolkit to navigate the coming wave of challenges and opportunities.-- Provided by publisher.
Bibliography, etc. Note
Includes bibliographical references and index.
Access Note
Access limited to authorized users.
Source of Description
Description based on print version record.
Introduction: Machine Intelligence
Cheap changes everything
Part One: Prediction
Prediction machine magic
Why it's called intelligence
Data is the new oil
The new division of labor
Part Two: Decision Making
Unpacking decisions
The value of judgment
Predicting judgment
Taming complexity
Fully automated decision making
Part Three: Tools
Deconstructing workflows
Decomposing decisions
Job redesign
Part Four: Strategy
AI in the C-suite
When AI transforms your business
Your learning strategy
Managing AI risk
Part Five: Society
Beyond business.
