
Power and Prediction
The Disruptive Economics of Artificial Intelligence
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Narrated by:
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Tom Beyer
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, 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-listen guide for any business leader or policymaker on how to make the coming AI disruptions work for you rather than against you.
PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.
©2022 Ajay Agrawal, Joshua Gans, and Avi Goldfarb (P)2022 Ascent AudioListeners also enjoyed...




















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The authors focus on two primordial concepts of judgement and prediction. How making this prediction faster using AI can help improve human decision speed. Here they stress the shift from point system AIs to system thinking with interdependent systems and how it can help improve decision speed for businesses and improving the livelihood of humans. The businesses that leverage this are going to be the disruptors. The luddites will be left behind (Recall Math teachers striking in the 1980s because calculators are being used in the class and it is not helping students cognitively).
Must read for all CEOs, CTOs and product managers. Get the chatGPT plugin soon in your products and applications.
How AI is changing and can change the world
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Discrete functions of AI
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A business level discussion of AI
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Great book
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Unfortunately not enough of the book hit the “cutting room floor”. There was a lot of information repeated and the case studies limited to the same ones used over and over again. An abridged version might be better.
It was also challenging to fallow the verbal diagrams being explained. I’m sure the written format would be easier to digest.
Probably better in written format
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Additional Knowledge of AI
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This book will challenge your thinking with thought-provoking questions:
-Imagine being able to predict the value of everything produced in a factory. How would you revolutionize the system?
-How would you design a factory from the ground up, powered by AI?
-How can we replace rigid, rule-based processes that fail to consider variability, with AI-powered predictions that were once unattainable?
-How can we make AI predictions accessible, transparent, and comprehensible for all?
-How can we combine human intelligence and AI to make optimal decisions?
Remember, every AI model is ultimately crafted by a human, embedding their opinions and judgments. After several attempts to incorporate AI in my workplace with little success, this book (which I read twice!) inspired me to reframe my approach by focusing on system changes. This shift has led to remarkable progress in both advocating for necessary changes and implementing them.
A heartfelt thank you to the authors for their profound insights and thought leadership in this groundbreaking work.
Best. AI Book. Ever.
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very informative
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The best thing I’ve ever read to understand artificial intelligence.
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Insightful
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