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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 members say

Average Customer Ratings

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    3 out of 5 stars
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    3 out of 5 stars

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.

5 of 5 people found this review helpful

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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.

1 of 1 people found this review helpful

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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.

1 of 1 people found this review helpful

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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.

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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.

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Great book to understand AI and how to apply it

understanding what AI does and when other systems takeover is very important this book does a great job of helping you understand that idea. a must read.

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Captivating

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

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Great overview

set your mind at ease. the machines aren't taking over. but they may present some pretty sweet opportunities!

0 of 2 people found this review helpful

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Very well thought out!

I wasn’t sure what to expect because a lot of talk on predictive tends to be either cynical or apocalyptic. I thought this book was rather thorough in its approach, in the issues raised with a lot of thought provoking thoughts. I definitely appreciate the views from an economist which puts a lot of things in perspective.

Highly recommend this book.

0 of 2 people found this review helpful

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  • Professionals Read
  • 10-17-18

A realistic look at Machine Learning and AI

I found this to be an interesting book on Machine Learning and the Narrator keeps you engaged. It described how we can benefit from AI in our current generation. It clearly distinguishes AI and AGI and gives the pros and cons of regulation over data and compares the approaches different countries are taking on training their algorithms.

This answered my questions on what makes a machine smart?, what is algorithmic bias, should we be worried about automation taking over jobs? what will give countries a lead in AI? it doesn't overhype the technology but gives good examples of how prediction machines will become part of most of the devices we interact with in our daily lives