Power and Prediction, Joshua Gans
Power and Prediction, Joshua Gans
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Power and Prediction
The Disruptive Economics of Artificial Intelligence

Author: Joshua Gans, Ajay Agrawal, Avi Goldfarb

Narrator: Tom Beyer

Unabridged: 10 hr 8 min

Format: Digital Audiobook Download

Publisher: Ascent Audio

Published: 11/15/2022

Includes: Bonus Material Bonus Material Included


Synopsis

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, 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-listen guide for any business leader or policymaker on how to make the coming AI disruptions work for you rather than against you.


About Joshua Gans

Joshua Gans is the Jeffrey S. Skoll Chair of Technical Innovation and Entrepreneurship and professor of strategic management at Toronto's Rotman School of Management. He is chief economist of the Creative Destruction Lab, department editor (strategy) at Management Science, and cofounder and managing director of Core Economic Research.


Reviews

Goodreads review by Narang Unnati on January 04, 2023

Loved reading this book! Very CLEAR, well-crafted narrative and powerful ideas. I had earlier read the “Prediction Machines” by the same authors. In the original book, the main idea is that AI reduces cost of prediction. As prediction gets cheaper, we will use more AI. This book goes beyond a “point......more

Goodreads review by Karen on November 30, 2022

This is a follow up to the team of author’s first book on the power of prediction and AI (“Prediction Machines” This one cuts to the heart of making faster, cheaper and better decisions and is a key book to read if you are fascinated by AI or if you think your business could benefit from better deci......more

Goodreads review by Rodrigo on December 21, 2022

After publishing Prediction Machines, the authors realized the necessity of considering not only the economics of artificial intelligence but also the systems in which the technology operates. At the time, most markets are not ready to benefit entirely from AI solutions. Point solutions lower costs b......more

Goodreads review by Rads on March 30, 2023

AI is becoming more and more relevant in today’s world, and it is set to influence every person on the planet in one way or another before long, if it isn’t already. Power and Prediction is a very thought-provoking and informative guide into understanding AI, how and why it is transforming the econo......more

Goodreads review by Hannah on March 19, 2023

Power and Prediction: The Disruptive Economics of Artificial Intelligence is an incredibly insightful and thought-provoking read that explores the impact of AI on the labor force and society as a whole. The authors, Ajay Agrawal, Joshua Gans, and Avi Goldfarb, have done a commendable job of explaini......more