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.

A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.

"What does AI mean for your business? Read this book to find out." -- Hal Varian, Chief Economist, Google Artificial intelligence does the seemingly impossible, magically bringing machines to life--driving cars, trading stocks, and teaching children. But facing the sea change that AI will bring can be paralyzing. How should companies set strategies, governments design policies, and people plan their lives for a world so different from what we know? In the face of such uncertainty, many analysts either cower in fear or predict an impossibly sunny future. But in Prediction Machines, three eminent economists recast the rise of AI as a drop in the cost of prediction. With this single, masterful stroke, they lift the curtain on the AI-is-magic hype and show how basic tools from economics provide clarity about the AI revolution and a basis for action by CEOs, managers, policy makers, investors, and entrepreneurs. When AI is framed as cheap prediction, its extraordinary potential becomes clear: Prediction is at the heart of making decisions under uncertainty. Our businesses and personal lives are riddled with such decisions. Prediction tools increase productivity--operating machines, handling documents, communicating with customers. Uncertainty constrains strategy. Better prediction creates opportunities for new business structures and strategies to compete. Penetrating, fun, and always insightful and practical, Prediction Machines follows its inescapable logic to explain how to navigate the changes on the horizon. The impact of AI will be profound, but the economic framework for understanding it is surprisingly simple.

An argument that—despite dramatic advances in the field—artificial intelligence is nowhere near developing systems that are genuinely intelligent. In this provocative book, Brian Cantwell Smith argues that artificial intelligence is nowhere near developing systems that are genuinely intelligent. Second wave AI, machine learning, even visions of third-wave AI: none will lead to human-level intelligence and judgment, which have been honed over millennia. Recent advances in AI may be of epochal significance, but human intelligence is of a different order than even the most powerful calculative ability enabled by new computational capacities. Smith calls this AI ability “reckoning,” and argues that it does not lead to full human judgment—dispassionate, deliberative thought grounded in ethical commitment and responsible action. Taking judgment as the ultimate goal of intelligence, Smith examines the history of AI from its first-wave origins (“good old-fashioned AI,” or GOFAI) to such celebrated second-wave approaches as machine learning, paying particular attention to recent advances that have led to excitement, anxiety, and debate. He considers each AI technology's underlying assumptions, the conceptions of intelligence targeted at each stage, and the successes achieved so far. Smith unpacks the notion of intelligence itself—what sort humans have, and what sort AI aims at. Smith worries that, impressed by AI's reckoning prowess, we will shift our expectations of human intelligence. What we should do, he argues, is learn to use AI for the reckoning tasks at which it excels while we strengthen our commitment to judgment, ethics, and the world.

Precision Medicine and Artificial Intelligence: The Perfect Fit for Autoimmunity covers background on artificial intelligence (AI), its link to precision medicine (PM), and examples of AI in healthcare, especially autoimmunity. The book highlights future perspectives and potential directions as AI has gained significant attention during the past decade. Autoimmune diseases are complex and heterogeneous conditions, but exciting new developments and implementation tactics surrounding automated systems have enabled the generation of large datasets, making autoimmunity an ideal target for AI and precision medicine. More and more diagnostic products utilize AI, which is also starting to be supported by regulatory agencies such as the Food and Drug Administration (FDA). Knowledge generation by leveraging large datasets including demographic, environmental, clinical and biomarker data has the potential to not only impact the diagnosis of patients, but also disease prediction, prognosis and treatment options. Allows the readers to gain an overview on precision medicine for autoimmune diseases leveraging AI solutions Provides background, milestone and examples of precision medicine Outlines the paradigm shift towards precision medicine driven by value-based systems Discusses future applications of precision medicine research using AI Other aspects covered in the book include regulatory insights, data analytics and visualization, types of biomarkers as well as the role of the patient in precision medicine

Traditionally, economists have considered the accumulation of conventional inputs such as labour and capital to be the primary force behind economic growth. In the late-1990s however, many economists place technological progress at the centre of the growth process. This shift is due to theoretical developments that allow researchers to link microeconomic outcomes.

Artificial intelligence (AI) has captured our imaginations—and become a distraction. Too many leaders embrace the oversized narratives of artificial minds outpacing human intelligence and lose sight of the original problems they were meant to solve. When businesses try to “do AI,” they place an abstract solution before problems and customers without fully considering whether it is wise, whether the hype is true, or how AI will impact their organization in the long term. Often absent is sound reasoning for why they should go down this path in the first place. Doing AI explores AI for what it actually is—and what it is not— and the problems it can truly solve. In these pages, author Richard Heimann unravels the tricky relationship between problems and high-tech solutions, exploring the pitfalls in solution-centric thinking and explaining how businesses should rethink AI in a way that aligns with their cultures, goals, and values. As the Chief AI Officer at Cybraics Inc., Richard Heimann knows from experience that AI-specific strategies are often bad for business. Doing AI is his comprehensive guide that will help readers understand AI, avoid common pitfalls, and identify beneficial applications for their companies. This book is a must-read for anyone looking for clarity and practical guidance for identifying problems and effectively solving them, rather than getting sidetracked by a shiny new “solution” that doesn’t solve anything.