Prediction Machines

Prediction Machines (2018) delves into the transformative impact of artificial intelligence on the economics of decision-making. It highlights how AI reduces the cost of predictions, reshapes business problems, and influences decision-making amid uncertainty. The work further explores the value of data in today’s AI-driven economy and the changing dynamics between human labor and automation.

Ajay Agrawal is the academic director of the Centre for Innovation and Entrepreneurship at the Rotman School of Management at the University of Toronto, and the founder of the Creative Destruction Lab, specializing in the economics of innovation and artificial intelligence. He is also the co-author of Power and Prediction: The Disruptive Economics of Artificial Intelligence. Joshua Gans holds the Jeffrey Skoll Chair in Technical Innovation and Entrepreneurship at the Rotman School of Management, and is known for his research in economic theory and business strategy. Avi Goldfarb holds the Rotman Chair in Artificial Intelligence and Healthcare at the Rotman School of Management, and is recognized for his expertise in the implications of technology innovations on business and society.