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A review by augustosen
Power and Prediction: The Disruptive Economics of Artificial Intelligence by Avi Goldfarb, Ajay Agrawal, Joshua Gans
informative
medium-paced
5.0
This is a good book to understand the power of AI and its predictions better. As taken from the book, the following are some of the key issues discussed:
AI prediction is already having a system change effect on the innovation process. This gives a glimpse into what changes may be required elsewhere. Disruption as a process involves a redistribution of economic power—that is, under the new system, those who create the most economic value will change.
AI is all about prediction and is input into decision-making, power comes not from
machines—even though they might look powerful—but from those behind the machines, guiding how they react to predictions, what we call judgment.
When prediction involves a change from a rule to a decision and then to a new system, new people have a role in decision-making and therefore become the new locus of power. The reason is that predictions are a key input into decision-making.
It is also interesting to read about the discriminative nature of AI. AI is susceptible to bias is something to worry about I guess. as it adopts the data keyed in by humans. However, the good news is that AI can also reduce discrimination.
Definitely a must-read for those wanting to learn more about AIs. I know I had a better understanding of the subject matter after reading this book.