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Prediction Machines

The Simple Economics of Artificial Intelligence
Narrated by: LJ Ganser
Length: 7 hrs and 50 mins
4.5 out of 5 stars (45 ratings)

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Publisher's Summary

"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. 

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio. 

©2018 Ajay Agrawal, Joshua Gans, Avi Goldfarb (P)2018 Audible, Inc.

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How will A.I. really change the world?

If you think about it, with economists routinely criticized for having overly rational models of human behaviour, who better to explain the value and limitations of artificial intelligence than an economist - or even better, three economists!

0 of 1 people found this review helpful

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    3 out of 5 stars
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  • WJ Brown, Audible Customer
  • 2018-09-27

Not sure what I was expecting, but underwhelmed

There are good examples of applied AI discussed throughout (but almost all of which I’ve seen or heard previously), but I never felt that this was advancing my understanding of the topic in any meaningful way.

63 of 65 people found this review helpful

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  • Soap Maker
  • 2018-10-09

worth reading but not as enlightening as I hoped

nothing at all wrong with the narration and the book is definitely interesting to some degree, but I did find myself losing interest close to the middle of the book. the authors do present a useful perspective on AI.

15 of 15 people found this review helpful

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  • Tony Yunnie
  • 2018-10-08

Useful

An informative book. It is aimed at providing insight into AI for non-techies, no technical skills are assumed or required. I enjoyed the entire book, from the first to the last page.

19 of 20 people found this review helpful

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  • Wayne
  • 2019-06-28

How to make an interesting topic boring!

The secret to making a very interesting topic boring is seemingly endless repetition of the same ideas. Here we have an interesting topic that could be fully expressed in a magazine article stretched out to book length through repetition of the same ideas. In doing do the authors have insulted their readers/listeners.

7 of 7 people found this review helpful

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  • Omar Kandeel
  • 2019-01-01

Unentertaining, but informative

I consider this book a good reference for business people and policy makers to understand the dimensions of AI and its various implications. The book can be a bit repetitive and I lost focus easily while listening. But it is a good source nonetheless.

18 of 20 people found this review helpful

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  • Amazon Customer
  • 2018-11-05

Excellent read!

Excellent for those interested in the managerial, economic, and societal impact of Machine Learning. the authors offer a structured analysis of the implications of a technology that manages to be both rigorous and pleasant to read.

5 of 5 people found this review helpful

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  • Anonymous User
  • 2018-12-02

Outstanding baseline on AI

The authors did a fabulous job introducing and demonstrating the economics of AI using real world examples. Very well done and I recommend this book to anyone wanting a high-level, baseline understanding and portending of the technology.

13 of 15 people found this review helpful

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  • J. D. Rolle
  • 2018-12-30

Disappointing

I liked the data, the facts, the story of what...which was well-done.

What could have been done better with more clarity was the “why”.

12 of 14 people found this review helpful

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  • K. Garreau Jr.
  • 2018-10-15

Captivating

Loved the economists view of this topic! A must read for anyone working in information technology, ML or AI.

3 of 3 people found this review helpful

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  • Frank
  • 2019-03-07

Endless recapitulation of the salient

Aimed at managerial types seeking to understand AI applications. Maybe good for the pointy-haired type...maybe. Much rehash of little material. Doesn't hold interest because there is little that is surprising and lacks a story-telling style. The authors should stick to writing introductory-level textbooks.

2 of 2 people found this review helpful