Skip to content
Notes from the field

Notes from the field

The economics of artificial intelligence

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.
https://rob.al/2FoXBaU
Rotman School of Management professor Ajay Agrawal explains how AI changes the cost of prediction and what this means for business.

Share this:

  • Click to email a link to a friend (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
2018-05-01

linkedin cross-post

Post navigation

PREVIOUS
Surviving The Retail Apocalypse: The Technologies And Trends That Can Help Brick-And-Mortar Thrive Again
NEXT
IBM outlines the 5 attributes of useful AI
Comments are closed.

Archives

The standard disclaimer…

The views, thoughts, and opinions expressed in the text belong solely to the me, and not necessarily to the my employer, organization, committee or other group that I belong to or am associated with.

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
© 2023 Rob Aleck, licensed under CC BY-NC 4.0
Go to mobile version