Joshua Gans

Prediction Machines

Ajay Agrawal, Avi Goldfarb and Joshua Gans ·2018 ·Intermediate

4.3

Three economists frame AI as a drop in the cost of prediction, a simple lens that makes it easier to see where AI will change your business.

• AI makes prediction cheap
• Judgment becomes more valuable as prediction gets cheaper
• Rethink workflows around prediction

Best for: Leaders deciding where AI creates value

Power and Prediction

Ajay Agrawal, Avi Goldfarb and Joshua Gans ·2022 ·Advanced

4.1

The follow up to Prediction Machines explains why AI's biggest effects come from redesigning whole systems, not just individual tasks.

• Point solutions are only the beginning
• System changes create the most value
• AI shifts power in industries

Best for: Strategists thinking about AI at the system level