Prediction Machines: The Simple Economics of Artificial Intelligence by Ajay Agrawal
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About the Book
Prediction Machines: The Simple Economics of Artificial Intelligence
by Ajay Agrawal
Current price is $19.49 plus shipping for the hardback edition on Amazon. The book may also be available from your local library.
In Prediction Machines, the authors cast the rise of AI as a drop in the cost of prediction. The book shows how basic tools from economics provide clarity about the AI revolution and a basis for action by CEOs, managers, policymakers, investors, and entrepreneurs.
When AI is framed as a cheap prediction, its extraordinary potential becomes clear:
- Prediction is at the heart of making decisions under uncertainty. Our businesses and personal lives are riddled with such decisions.
- Prediction tools increase productivity--operating machines, handling documents, communicating with customers.
- Uncertainty constrains strategy. Better prediction creates opportunities for new business structures and strategies to compete.
The book follows its inescapable logic to explain how to navigate the changes on the horizon. The impact of AI will be profound, but the economic framework for understanding it is surprisingly simple.
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Based on the book length, this Strategic and Business Management talent triangle topic should take four hours to read which converts to 4 educational PDUs for qualified PMPs who are under PDU limit for their current three year certification cycle. Please note that these PDUs will need to be reported as reading. One additional PDU for informal learning may be counted for attending the book club meeting to discuss the book. For full details on PDU reporting refer to the Certification Requirements Handbook.
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