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Prediction Machines

Written by: Ajay Agrawal, Joshua Gans, Avi Goldfarb
Narrated by: LJ Ganser
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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.

What listeners say about Prediction Machines

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Interesting & Relevant

Loved the focus on real life AI applications & details on the implications on humans & business.

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A good overview of AI

Predicition Machines provides a very good explanation of what is Artificial Intelligence as well as what it is not. I think the biggest value the book provide is a series of questions a leader has to consider before embarking into AI. It basically covers all the ground one will eventually face. I really enjoyed the book.

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Keep up with the future

This is a very interesting and easily digestible introduction to AI. Will be one of my most recommended books this year. It can help spark ideas and help you understand the basics of AI + the potential that it has.

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3 people found this helpful

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Many books are worth reading twice, this is not!

I really enjoyed the valuable information I gained by listening to this book. The length, however, is not appropriate for the content. I mean, there are many repetitive ideas throughout the book.
The authors come back to the same ideas again and again to explain dimensions that are somehow very similar to each other.
It could have been done in the half size of the current book.
Furthermore, the voice is somehow wired. Even though it is totally understandable, sometimes words overlap, as if the voice had been recorded in a slower speed and then had been sped up to cover up the problem, a measure which was not successful enough.

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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!

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Great breakdown of current applications of AI

A very user friendly approach to prediction and its economic impacts. Great read for anyone interesting in AI

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