Book Review: Prediction Machines
This article provides a brief review of the book “Prediction Machines” by Ajay Agrawal, Joshua Gans and Avi Goldfarb
What is the book about?
With the rise in hype around artificial intelligence, many of my friends and colleagues have asked for book recommendations to become more familiar with the subject area. I recently revisited the book "Prediction Machines," and it did not disappoint. The authors do an excellent job of outlining core concepts about artificial intelligence, why and how it provides an economic advantage, as well as the risks and dangers associated with this new technology. Among the many great topics covered, the book reviews:
AI fundamentals and the power of predictions
AI value creation use cases
How the value from AI is distributed (i.e., Do you need to create the models, or can you simply use the technology?)
How AI may impact job distribution and availability
Specific risks associated with leveraging AI
How country-level AI policies will impact the competitive landscape
Why should you read it?
The book is wonderful because it provides a wealth of knowledge in a format that is relatable and very easy to read. The book offers many Aha moments and wonderful quotes that get the reader thinking more deeply on the subject of AI and how it can impact our lives. For example, the quote below outlines some of the dangers associated with further automating human tasks to include cognitive tasks.
An example of the many thought provoking quotes in the book “Prediction Machines” by Ajay Agrawal, Joshua Gans and Avi Goldfarb
I also appreciate the key point summaries at the end of every chapter, ensuring that the readers revisit and remember the main learnings.
Key point summaries are provided at the end of every chapter.
If you're looking for an enjoyable read on the topic of artificial intelligence, then I highly recommend this book. Thank you for reading my review, and please reach out if you have any questions. Finally, thank you to my friend and fellow data leader, Nysa Zaran for recommending the book!
