Prediction Machines, Updated and Expanded
The Simple Economics of Artificial Intelligence
in:
Economics
Summary:
The book explores the economic implications of artificial intelligence, framing AI as a drop in the cost of prediction, which transforms decision-making across various industries. It delves into how businesses can strategically leverage AI, the challenges of integrating it into existing models, and the broader societal impacts of widespread predictive technology.
Key points:
1. AI Lowers Prediction Costs: AI is seen as a way to cheaply predict future events, making it more widely used in decision-making across industries.
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