# Power and Prediction: The Disruptive Economics of Artificial Intelligence - Hardcover

by **Ajay Agrawal** (Author), **Joshua Gans** (Author), **Avi Goldfarb** (Author)

**Disruption resulting from the proliferation of AI is coming. The authors of the bestselling _Prediction Machines_ can help you prepare.**

Artificial intelligence (AI) has impacted many industries around the world--banking and finance, pharmaceuticals, automotive, medical technology, manufacturing, and retail. But it has only just begun its odyssey toward cheaper, better, and faster predictions that drive strategic business decisions. When prediction is taken to the max, industries transform, and with such transformation comes disruption.

What is at the root of this? In their bestselling first book, _Prediction Machines_, eminent economists Ajay Agrawal, Joshua Gans, and Avi Goldfarb explained the simple yet game-changing economics of AI. Now, in _Power and Prediction_, they go deeper, examining the most basic unit of analysis: the decision. The authors explain that the two key decision-making ingredients are prediction and judgment, and we perform both together in our minds, often without realizing it. The rise of AI is shifting prediction from humans to machines, relieving people from this cognitive load while increasing the speed and accuracy of decisions.

This sets the stage for a flourishing of new decisions and has profound implications for _system-level_ innovation. Redesigning systems of interdependent decisions takes time--many industries are in the quiet before the storm--but when these new systems emerge, they can be disruptive on a global scale. Decision-making confers power. In industry, power confers profits; in society, power confers control. This process will have winners and losers, and the authors show how businesses can leverage opportunities, as well as protect their positions.

Filled with illuminating insights, rich examples, and practical advice, _Power and Prediction_ is the must-read guide for any business leader or policymaker on how to make the coming AI disruptions work for you rather than against you.

### Author Biography

**Ajay Agrawal** is Professor of Strategic Management and the Geoffrey Taber Chair in Entrepreneurship and Innovation at the University of Toronto's Rotman School of Management. He is founder of the Creative Destruction Lab and the Metaverse Mind Lab and cofounder of NEXT Canada and Sanctuary.

**Joshua Gans** is the Jeffrey S. Skoll Chair of Technical Innovation and Entrepreneurship and Professor of Strategic Management at Toronto's Rotman School of Management. He is Chief Economist of the Creative Destruction Lab, department editor (Strategy) at _Management Science_, and cofounder and managing director of Core Economic Research.

**Avi Goldfarb** is the Rotman Chair in Artificial Intelligence and Healthcare and Professor of Marketing at Toronto's Rotman School of Management. He is also Chief Data Scientist at the Creative Destruction Lab, a fellow at Behavioral Economics in Action at Rotman, and a faculty affiliate at the Vector Institute for Artificial Intelligence.

**Number of Pages:** 288

**Dimensions:** 1.2 x 9.3 x 6 IN

**Illustrated:** Yes

**Publication Date:** November 15, 2022

## Details

- **Price:** 32.0 USD
- **Vendor:** Books by splitShops
- **Type:** Books
- **Tags:** Books by splitShops, Shopify Collective

## Variants

| Variant | Price | Available |
|---------|-------|-----------|
| Default Title | 32.00 USD | In stock |

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- Power and Prediction: The Disruptive Economics of Artificial Intelligence - Hardcover

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