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 ...

Named one of "The five best books to understand AI" by The EconomistThe impact AI will have is profound, but the economic framework for understanding it is surprisingly simple.Artificial intelligence seems to do the impossible, magically bringing machines to life—driving cars, trading stocks, and teaching children. But facing the sea change that AI brings can be paralyzing. How should companies set strategies, governments design po...

Stewart Brand famously declared, Information wants to be free.” Except he didn’t (not really). And it doesn’t.Information is much more complicated than that. What information really wants-what makes it more valuable, useful, and immediate, Joshua Gans argues-is to be shared.Using the tools and logic of information economics, Gans shows how sharing enhances most information’s value. He also shows how the business models of traditional media companies, gatekeepers w...

Covid-19 is a global pandemic inflicting large health and economic costs. In his previous book, The Pandemic Information Gap: The Brutal Economics of COVID-19 (MIT Press, 2020), economist Joshua Gans explains that those costs have been so large because governments and others have lacked the information needed to control the pandemic. Unless we know who is infectious, we can't break the chains of transmission, which results in the escalation of our problems. Pandemics, he writes, a...

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.

Advances in artificial intelligence (AI) highlight the potential of this technology to affect productivity, growth, inequality, market power, innovation, and employment. This volume seeks to set the agenda for economic research on the impact of AI. It covers four broad themes: AI as a general purpose technology; the relationships between AI, growth, jobs, and inequality; regulatory responses to changes brought on by AI; and the effects of AI on the way economic research is conducted. It ex...

A guide to the pandemic economy: essential reading about the long-term implications of our current crisis.The COVID-19 pandemic has unleashed a firehose of information (much of it wrong) and an avalanche of opinions (many of them ill-founded). Most of us are so distracted by the everyday awfulness that we don't see the broader issues in play. In this book, economist Joshua Gans steps back from the short-term chaos to take a clear and systematic look at how economic...

Why solving the information problem should be at the core of our pandemic response: essential reading about the long-term implications of our current crisis.COVID-19 is caused by a virus. The COVID-19 pandemic is caused by a lack of good information. A pandemic is essentially an information problem: this is the enlightening and provocative idea at the heart of this book. If we solve the information problem, argues economist Joshua Gans, we can defeat the virus. For...

How to get more innovation and more equality.Is economic inequality the price we pay for innovation? The amazing technological advances of the last two decades—in such areas as artificial intelligence, genetics, and materials—have benefited society collectively and rewarded innovators handsomely: we get cool smartphones and technology moguls become billionaires. This contributes to a growing wealth gap; in the United States; the wealth controlled by the top 0.1 per...

A comprehensive treatment of the microeconomics associated with the adoption and use of artificial intelligence.It is well-recognized that recent advances in AI are exclusively advances in statistical techniques for prediction. While this may facilitate automation, this result is secondary to AI’s impact on decision-making. From an economics perspective, predictions have their first-order impacts on the efficiency of decision-making.In The Microeconomic...

An authoritative look at how artificial intelligence both shapes and is shaped by the political and economic forces of the modern world.As the effects of artificial intelligence are felt across economies and societies, many of its ramifications are still emerging. This volume brings together economists and political scientists to examine how AI intersects with regulation, military power, and political identity—offering analytical frameworks and identifying key open...

A novel framework for how entrepreneurs can use Bayesian reasoning to make decisions.This edited volume introduces and explores the concept of Bayesian entrepreneurship, a novel framework for understanding entrepreneurial decision-making under uncertainty. It brings together contributions from leading scholars to examine how entrepreneurs form beliefs about opportunities, learn through experimentation, and make strategic decisions.The Bayesian approach emph...