Prediction Machines: The Simple Economics of Artificial Intelligence by Ajay Agrawal - Non Fiction - Hardback
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Title:
Prediction Machines: The Simple Economics of Artificial Intelligence
Condition: BRAND NEW
Format: Hardcover
Overview:
Prediction Machines reframes the rise of artificial intelligence as a fundamental shift in the cost of predictions. Co-authored by Ajay Agrawal, Joshua Gans, and Avi Goldfarb, this compact, highly readable book argues that AI isn’t about sentient robots or mysterious breakthroughs—it’s a practical econom ic technology that lowers the price of prediction, enabling smarter decisions across every sector. Written for business leaders, policymakers, and curious minds alike, the hardcover edition distills complex ideas into a clear framework: when prediction becomes cheaper, strategic choices—pricing, product design, supply chains, risk management, and policy design—change. Expect accessible insights, concrete examples, and a toolkit for leveraging AI without getting lost in technobabble. Published by Harvard Business Review Press in 2018, the book blends rigorous economic thinking with real-world cases—from finance to manufacturing to education—showing how to reorient organizations toward predictive power while anticipating potential societal costs. If you want to understand what AI means for strategy, governance, and daily life—without needing a PhD in computer science—this is the essential primer that connects theory to practice.
What Makes This Book Stand Out:
Prediction Machines stands out because it distills AI’s promise into a simple, actionable economic lens. Rather than focusing on algorithms, the authors spotlight prediction as the core input to decision-making, illustrating how cheaper predictions reshape incentives, risk assessment, and competitive advantage. The book deftly blends theory with pragmatic guidance—showing how to redesign processes, pricing strategies, and governance frameworks in light of AI’s capabilities. It also invites readers to think about the social and policy implications of widespread predictive technology, encouraging responsible adoption while identifying opportunities for value creation. The concise format makes it a valuable reference for busy executives, policymakers, and educators who want clarity amid the AI hype, backed by a rigorous, economist’s viewpoint.
Who This Book Is Perfect For:
If you’re a business leader seeking a practical map of AI’s economics, a policy designer grappling with regulation, or a student exploring the business implications of technology, this book speaks directly to you. It suits CEOs, product managers, data strategists, and strategists who want to know how to structure investments, workflows, and decision rights around predictive AI. It’s also a smart gift for academics and professionals who appreciate a grounded, non-technical explanation of AI’s impact on markets, competition, and everyday life. The accessible tone makes it suitable for readers new to AI while still offering valuable insights for seasoned practitioners.
Key Highlights:
- Reframes AI as a tool that lowers the cost of prediction and improves decision-making
- Offers a practical economic framework for strategy, policy, and management
- Clear, non-technical explanations with real-world business examples
- Guides readers on how to redesign processes, pricing, and governance around AI
- Discusses potential societal and policy implications of predictive technology
- Compact, accessible hardcover ideal for executives and academics
About the Author:
Ajay Agrawal, Joshua Gans, and Avi Goldfarb are renowned economists and professors whose collaborative work on AI strategy bridges academia and industry. The trio co-authored Prediction Machines, offering an economist’s view of how AI’s ability to predict can alter business models, competition, and governance. Ajay Agrawal is closely associated with the Rotman School at the University of Toronto, where he focuses on strategy and innovation; Joshua Gans is a professor at Rotman and a leading commentator on digital disruption; Avi Goldfarb is also tied to Rotman and is recognized for his work on the economics of information and AI. Their combined expertise provides a rigorous yet accessible guide to leveraging predictive AI in the real world.
Why You’ll Love This Book:
If you crave a grounded, forward-looking understanding of AI’s practical value, this is the book to own. It delivers a clear roadmap for integrating AI into strategy without getting lost in technical jargon, helping readers articulate the cost-benefit of predictive tools, reallocate decision rights, and spot opportunities for faster, smarter moves. It also prompts thoughtful consideration of the broader impact of automation, making it a meaningful addition to any bookshelf aimed at leaders, students, or policy-minded readers seeking tangible takeaways from the AI revolution.
Please Note: The individual books included in this listing will be dispatched as per the original UK ISBN and UK edition cover image shown in the image.
