How AI Is Making Prediction Cheaper

HBR IdeaCast

• Episode: How AI Is Making Prediction Cheaper
• Website: HBR IdeaCast
• Feed URL: http://feeds.harvardbusiness.org/harvardbusiness/ideacast
• Duration: 00:22:41
• Published: 2018-05-22 23:34

Avi Goldfarb, a professor at the University of Toronto’s Rotman School of Management, explains the economics of machine learning, a branch of artificial intelligence that makes predictions. He says as prediction gets cheaper and better, machines are going to be doing more of it. That means businesses — and individual workers — need to figure out how to take advantage of the technology to stay competitive. Goldfarb is the coauthor of the book “Prediction Machines: The Simple Economics of Artificial Intelligence.”