https://wijnandbaretta.com/tags/decision-making/Recent content in Decision Making on Wijnand Barettahttps://wijnandbaretta.com/images/og-default.pnghttps://wijnandbaretta.com/images/og-default.pngHugo -- 0.152.2enSun, 23 Jul 2017 00:00:00 +0000https://wijnandbaretta.com/books/prediction-machines-the-simple-economics-of-artificial-intelligence/Sun, 23 Jul 2017 00:00:00 +0000https://wijnandbaretta.com/books/prediction-machines-the-simple-economics-of-artificial-intelligence/<h1 id="overview-of-prediction-machines-the-simple-economics-of-artificial-intelligence">Overview of &ldquo;Prediction Machines: The Simple Economics of Artificial Intelligence&rdquo;</h1> <h2 id="summary">Summary</h2> <p>&ldquo;Prediction Machines: The Simple Economics of Artificial Intelligence&rdquo; by Avi Goldfarb, Ajay Agrawal, and Joshua Gans offers a comprehensive examination of how AI, specifically machine learning and predictive algorithms, is reshaping traditional economic concepts. The authors argue that the fundamental role of AI is to lower the cost of prediction, which has wide-reaching implications for decision-making processes within businesses and economies. They explore how cheaper prediction affects various industries and what it means for data, human judgment, and the value of work in an AI-driven world.</p>