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Prediction Machines

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 to gain competitive advantages, manage uncertainty, and navigate the evolving landscape of data-driven decision-making.

Key points:

1. AI for Cheaper Predictions: AI, especially machine learning, lowers the cost of making predictions. This allows businesses to use AI for more decisions, changing how they operate.

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