Prediction Machines: The Simple Economics of Artificial Intelligence

One aspect of artificial intelligence is prediction, which plays an important role in shaping business strategies. Ajey Agrawal, a professor of strategic management and entrepreneurship at the Rotman School of Management, University of Toronto, is also a research associate at the National Bureau of Economic Research and a co-founder of the Next 36 and Next AI entrepreneurship programs. His research focuses on technology strategy, science policy, and the geography of innovation. He founded LSR, a program aimed at supporting science-intensive startups. He is also a co-founder of Kindred, a company working on advancing AI and robotics. Joshua Gans, author of the book “Artificial Intelligence for Business,” holds the position of professor of strategic management and heads the department of technical innovation and entrepreneurship at the Rotman School of Management, University of Toronto. He is a leading economist at LSR at the University of Toronto, editor of Management Science, and author of six books. Gans earned his PhD at Stanford and received an award from the Australia and New Zealand Young Economists’ Community. Avi Goldfarb, also an author of “Artificial Intelligence for Business,” is a professor of marketing at the Rotman School of Management and Chief Data Scientist at LSR. He is a lead editor of Marketing Science and has a PhD in economics from Northwestern University.