A new book to bring AI understanding to your business
Artificial intelligence is a word laden with hype. It is also laden with fear -- fear of being left behind and fear of missing out. The message of this book is that there is foundation to the hype but it is only through the lens of economics that businesses can understand its impact.
The real job of artificial intelligence, argue three eminent economists, is to lower the cost of prediction. Prediction is a key component of decision-making, so with artificial intelligence, decisions can be supercharged. It cannot do this alone. Businesses need to invest in data and, most critically, human judgment. The book shows how to separate tasks into the components of prediction and judgment, and so 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.