Prediction Machines
Prediction Machines details the significance of artificial intelligence to your business. 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. Now, Prediction Machines recasts the rise of AI as a drop in the cost of prediction. With a single, masterful stroke, this book will 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. Piercing, fun, and insightful, 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.
Named one of the "Top Ten Technology Books of 2018" by Peter High, Forbes.com
Named a Hardcover Non-Fiction Bestseller by the Globe & Mail (Canada)
"Compared with the amount of ink spilled over the prospects of artificial general intelligence and all its accompanying fears--the singularity!--there's been much less attention to the smaller changes already happening in the realm of A.I. and their quite profound economic implications. Enter Prediction Machines."
— The New York Times
"…a readily understandable guide to artificial intelligence and the immensely consequential effects it could have on our e onomy, our society and our political system."
— Robert E. Rubin, former U.S. Treasury secretary and co-chair Emeritus, Council on Foreign Relations
"One of '10 Great Reads For The Summer'"
— Dave McKay, President & CEO at RBC
"Prediction Machines: The Simple Economics of Artificial Intelligence by Ajay Agrawal, Joshua Gans and Avi Goldfarb. This 2018 book…on the timely topic of AI - tops my summer reading list. The authors…offer a compelling framework for mapping out the likely impact of AI on economies in the decades ahead."
— BlackRock Investment Management
"An excellent book on the economics of Artificial Intelligence. Steeped in both economics and AI/ML, this book steers clear of hype (or anti-hype), applying standard economic concepts to a rapidly emerging phenomecon. The book is geared to business readers not economists or policymakers but it has a lot to offer to everyone... Highly recommended."
— Jason Furman, former Chair of President Obama's Council of Economic Advisors on Goodreads
"This is a timely book, well written, and accessible putting forward their insights, and is well worth reading."
— Irish Tech News
"AI may transform your life. And Prediction Machines will transform your understanding of AI. This is the best book yet on what may be the best technology that has come along."
— Lawrence H. Summers, Charles W. Eliot Professor, former president, Harvard University; former secretary, US Treasury; and former chief economist, World Bank
"Prediction Machines is a path-breaking book that focuses on what strategists and managers really need to know about the AI revolution. Taking a grounded, realistic perspective on the technology, the book uses principles of e onomics and strategy to understand how firms, industries, and management will be transformed by AI."
— Susan Athey, Economics of Technology Professor, Stanford University; former consulting researcher, Microsoft research New England
"Prediction Machines achieves a feat as welcome as it is unique: a crisp, readable survey of where artificial intelligence is taking us separates hype from reality, while delivering a steady stream of fresh insights. It speaks in a language that top executives and policy makers will understand. Every leader needs to read this book."
— Dominic Barton, Global Managing Partner, McKinsey & Company
"This book makes artificial intelligence easier to understand by recasting it as a new, cheap commodity--predictions. It's a brilliant move. I found the book incredibly useful."
— Kevin Kelly, founding executive editor, Wired; author, What Technology Wants and The Inevitable