The economics of artificial intelligence

As the cost of AI drops, things which aren't currently thought to be solvable through prediction will suddenly be viable – and this will primarily be complimented with human judgement. Computers predict better than people can, but then these predictions will be "handed off" to a human to use judgement to determine the response (such as whether or how to act, or to ignore). Ultimately, the authors recommend that companies develop a "thesis" outlining what you plan to "predict" (e.g. what is "best"), the time until AI becomes so embedded that investments without it are not viable, recognising that progress towards that point will be exponential.
Rotman School of Management professor Ajay Agrawal explains how AI changes the cost of prediction and what this means for business.