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Author Agrawal, Ajay,
Title Prediction machines : the simple economics of artificial intelligence / Ajay Agrawal, Joshua Gans, and Avi Goldfarb.
Imprint Boston, Massachusetts : Harvard Business Review Press, [2018]

 OTTERBEIN MAIN COLLECTION  TA347.A78 A385 2018    DUE 06-01-20  
 OTTERBEIN MAIN COLLECTION  TA347.A78 A385 2018    DUE 06-01-20  
Author Agrawal, Ajay,
Subject Artificial intelligence -- Economic aspects.
Decision making -- Statistical methods.
Forecasting -- Statistical methods.
Alt Name Gans, Joshua, 1968-
Goldfarb, Avi,
Description x, 250 pages : illustrations ; 25 cm
Bibliography Note Includes bibliographical references and index.
Summary The idea of artificial intelligence--job-killing robots, self-driving cars, and self-managing organizations--captures the imagination, evoking a combination of wonder and dread for those of us who will have to deal with the consequences. But what if it's not quite so complicated? The real job of artificial intelligence, argue these three eminent economists, is to lower the cost of prediction. And once you start talking about costs, you can use some well-established economics to cut through the hype. The constant challenge for all managers is to make decisions under uncertainty. And AI contributes by making knowing what's coming in the future cheaper and more certain. But decision making has another component: judgment, which is firmly in the realm of humans, not machines. Making prediction cheaper means that we can make more predictions more accurately and assess them with our better (human) judgment. Once managers can separate tasks into components of prediction and judgment, we can 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.-- Provided by publisher.
Contents Cheap changes everything -- The magic of prediction -- Why it's called intelligence -- Data is the new oil -- The new division of labor -- Unpacking decisions -- The value of judgment -- Taming complexity -- What machines can learn -- Fully automated decision-making -- Deconstructing workflows -- Decomposing decisions -- Job redesign -- AI in the C-suite -- When AI transforms your business -- Managing AI risk -- Beyond business.
ISBN 9781633695672 (hardcover ; alkaline paper)
1633695670 (hardcover ; alkaline paper)
ISBN/ISSN 40028301784
OCLC # 1007083496