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The Economics of Artificial Intelligence

The Economics of Artificial Intelligence
Author: Ajay Agrawal
Publisher: University of Chicago Press
Total Pages: 172
Release: 2024-03-05
Genre: Business & Economics
ISBN: 0226833127
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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. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.

Prediction Machines

Prediction Machines
Author: Ajay Agrawal
Publisher: Harvard Business Press
Total Pages: 272
Release: 2018-04-17
Genre: Computers
ISBN: 1633695689
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"What does AI mean for your business? Read this book to find out." -- Hal Varian, Chief Economist, Google Artificial intelligence does the seemingly impossible, magically bringing machines to life--driving cars, trading stocks, and teaching children. But facing the sea change that AI will bring can be paralyzing. How should companies set strategies, governments design policies, and people plan their lives for a world so different from what we know? In the face of such uncertainty, many analysts either cower in fear or predict an impossibly sunny future. But in Prediction Machines, three eminent economists recast the rise of AI as a drop in the cost of prediction. With this single, masterful stroke, they lift the curtain on the AI-is-magic hype and show how basic tools from economics provide clarity about the AI revolution and a basis for action by CEOs, managers, policy makers, investors, and entrepreneurs. When AI is framed as cheap prediction, its extraordinary potential becomes clear: Prediction is at the heart of making decisions under uncertainty. Our businesses and personal lives are riddled with such decisions. Prediction tools increase productivity--operating machines, handling documents, communicating with customers. Uncertainty constrains strategy. Better prediction creates opportunities for new business structures and strategies to compete. Penetrating, fun, and always insightful and practical, Prediction Machines follows its inescapable logic to explain how to navigate the changes on the horizon. The impact of AI will be profound, but the economic framework for understanding it is surprisingly simple.

Human + Machine

Human + Machine
Author: Paul R. Daugherty
Publisher: Harvard Business Press
Total Pages: 264
Release: 2018-03-20
Genre: Computers
ISBN: 1633693872
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AI is radically transforming business. Are you ready? Look around you. Artificial intelligence is no longer just a futuristic notion. It's here right now--in software that senses what we need, supply chains that "think" in real time, and robots that respond to changes in their environment. Twenty-first-century pioneer companies are already using AI to innovate and grow fast. The bottom line is this: Businesses that understand how to harness AI can surge ahead. Those that neglect it will fall behind. Which side are you on? In Human + Machine, Accenture leaders Paul R. Daugherty and H. James (Jim) Wilson show that the essence of the AI paradigm shift is the transformation of all business processes within an organization--whether related to breakthrough innovation, everyday customer service, or personal productivity habits. As humans and smart machines collaborate ever more closely, work processes become more fluid and adaptive, enabling companies to change them on the fly--or to completely reimagine them. AI is changing all the rules of how companies operate. Based on the authors' experience and research with 1,500 organizations, the book reveals how companies are using the new rules of AI to leap ahead on innovation and profitability, as well as what you can do to achieve similar results. It describes six entirely new types of hybrid human + machine roles that every company must develop, and it includes a "leader’s guide" with the five crucial principles required to become an AI-fueled business. Human + Machine provides the missing and much-needed management playbook for success in our new age of AI. BOOK PROCEEDS FOR THE AI GENERATION The authors' goal in publishing Human + Machine is to help executives, workers, students and others navigate the changes that AI is making to business and the economy. They believe AI will bring innovations that truly improve the way the world works and lives. However, AI will cause disruption, and many people will need education, training and support to prepare for the newly created jobs. To support this need, the authors are donating the royalties received from the sale of this book to fund education and retraining programs focused on developing fusion skills for the age of artificial intelligence.

Prediction Machines, Updated and Expanded

Prediction Machines, Updated and Expanded
Author: Ajay Agrawal
Publisher: Harvard Business Press
Total Pages: 347
Release: 2022-11-15
Genre: Business & Economics
ISBN: 1647824680
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Named one of "The five best books to understand AI" by The Economist The 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 policies, and people plan their lives for a world so different from what we know? In the face of such uncertainty, many either cower in fear or predict an impossibly sunny future. But in Prediction Machines, three eminent economists recast the rise of AI as a drop in the cost of prediction. With this masterful stroke, they lift the curtain on the AI-is-magic hype and provide economic clarity about the AI revolution as well as a basis for action by executives, policy makers, investors, and entrepreneurs. In this new, updated edition, the authors illustrate how, when AI is framed as cheap prediction, its extraordinary potential becomes clear: Prediction is at the heart of making decisions amid uncertainty. Our businesses and personal lives are riddled with such decisions. Prediction tools increase productivity—operating machines, handling documents, communicating with customers. Uncertainty constrains strategy. Better prediction creates opportunities for new business strategies to compete. The authors reset the context, describing the striking impact the book has had and how its argument and its implications are playing out in the real world. And in new material, they explain how prediction fits into decision-making processes and how foundational technologies such as quantum computing will impact business choices. Penetrating, insightful, and practical, Prediction Machines will help you navigate the changes on the horizon.

The Singularity Is Nearer

The Singularity Is Nearer
Author: Ray Kurzweil
Publisher: Penguin
Total Pages: 433
Release: 2024-06-25
Genre: Social Science
ISBN: 0399562761
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The noted inventor and futurist’s successor to his landmark book The Singularity Is Near explores how technology will transform the human race in the decades to come Since it was first published in 2005, Ray Kurzweil’s The Singularity Is Near and its vision of an exponential future have spawned a worldwide movement. Kurzweil's predictions about technological advancements have largely come true, with concepts like AI, intelligent machines, and biotechnology now widely familiar to the public. In this entirely new book Ray Kurzweil brings a fresh perspective to advances toward the Singularity—assessing his 1999 prediction that AI will reach human level intelligence by 2029 and examining the exponential growth of technology—that, in the near future, will expand human intelligence a millionfold and change human life forever. Among the topics he discusses are rebuilding the world, atom by atom with devices like nanobots; radical life extension beyond the current age limit of 120; reinventing intelligence by connecting our brains to the cloud; how exponential technologies are propelling innovation forward in all industries and improving all aspects of our well-being such as declining poverty and violence; and the growth of renewable energy and 3-D printing. He also considers the potential perils of biotechnology, nanotechnology, and artificial intelligence, including such topics of current controversy as how AI will impact employment and the safety of autonomous cars, and "After Life" technology, which aims to virtually revive deceased individuals through a combination of their data and DNA. The culmination of six decades of research on artificial intelligence, The Singularity Is Nearer is Ray Kurzweil’s crowning contribution to the story of this science and the revolution that is to come.

Possible Minds

Possible Minds
Author: John Brockman
Publisher: Penguin
Total Pages: 321
Release: 2020-02-18
Genre: Computers
ISBN: 0525558012
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Science world luminary John Brockman assembles twenty-five of the most important scientific minds, people who have been thinking about the field artificial intelligence for most of their careers, for an unparalleled round-table examination about mind, thinking, intelligence and what it means to be human. "Artificial intelligence is today's story--the story behind all other stories. It is the Second Coming and the Apocalypse at the same time: Good AI versus evil AI." --John Brockman More than sixty years ago, mathematician-philosopher Norbert Wiener published a book on the place of machines in society that ended with a warning: "we shall never receive the right answers to our questions unless we ask the right questions.... The hour is very late, and the choice of good and evil knocks at our door." In the wake of advances in unsupervised, self-improving machine learning, a small but influential community of thinkers is considering Wiener's words again. In Possible Minds, John Brockman gathers their disparate visions of where AI might be taking us. The fruit of the long history of Brockman's profound engagement with the most important scientific minds who have been thinking about AI--from Alison Gopnik and David Deutsch to Frank Wilczek and Stephen Wolfram--Possible Minds is an ideal introduction to the landscape of crucial issues AI presents. The collision between opposing perspectives is salutary and exhilarating; some of these figures, such as computer scientist Stuart Russell, Skype co-founder Jaan Tallinn, and physicist Max Tegmark, are deeply concerned with the threat of AI, including the existential one, while others, notably robotics entrepreneur Rodney Brooks, philosopher Daniel Dennett, and bestselling author Steven Pinker, have a very different view. Serious, searching and authoritative, Possible Minds lays out the intellectual landscape of one of the most important topics of our time.

The AI Advantage

The AI Advantage
Author: Thomas H. Davenport
Publisher: MIT Press
Total Pages: 243
Release: 2019-08-06
Genre: Business & Economics
ISBN: 0262538008
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Cutting through the hype, a practical guide to using artificial intelligence for business benefits and competitive advantage. In The AI Advantage, Thomas Davenport offers a guide to using artificial intelligence in business. He describes what technologies are available and how companies can use them for business benefits and competitive advantage. He cuts through the hype of the AI craze—remember when it seemed plausible that IBM's Watson could cure cancer?—to explain how businesses can put artificial intelligence to work now, in the real world. His key recommendation: don't go for the “moonshot” (curing cancer, or synthesizing all investment knowledge); look for the “low-hanging fruit” to make your company more efficient. Davenport explains that the business value AI offers is solid rather than sexy or splashy. AI will improve products and processes and make decisions better informed—important but largely invisible tasks. AI technologies won't replace human workers but augment their capabilities, with smart machines to work alongside smart people. AI can automate structured and repetitive work; provide extensive analysis of data through machine learning (“analytics on steroids”), and engage with customers and employees via chatbots and intelligent agents. Companies should experiment with these technologies and develop their own expertise. Davenport describes the major AI technologies and explains how they are being used, reports on the AI work done by large commercial enterprises like Amazon and Google, and outlines strategies and steps to becoming a cognitive corporation. This book provides an invaluable guide to the real-world future of business AI. A book in the Management on the Cutting Edge series, published in cooperation with MIT Sloan Management Review.

Advanced Control Systems

Advanced Control Systems
Author: Yuriy P. Kondratenko
Publisher: CRC Press
Total Pages: 476
Release: 2022-09-01
Genre: Technology & Engineering
ISBN: 1000794067
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Advanced Control Systems: Theory and Applications provides an overview of advanced research lines in control systems as well as in design, development and implementation methodologies for perspective control systems and their components in different areas of industrial and special applications. It consists of extended versions of the selected papers presented at the XXV International Conference on Automatic Control “Automatics 2018” (September 18-19, 2018, Lviv, Ukraine) which is the main Ukrainian Control Conference organized by Ukrainian Association on Automatic Control (National member organization of IFAC) and Lviv National University “Lvivska Politechnica”. More than 100 papers were presented at the conference with topics including: mathematical problems of control, optimization and game theory; control and identification under uncertainty; automated control of technical, technological and biotechnical objects; controlling the aerospace craft, marine vessels and other moving objects; intelligent control and information processing; mechatronics and robotics; information measuring technologies in automation; automation and IT training of personnel; the Internet of things and the latest technologies. The book is divided into two main parts, the first concerning theory (7 chapters) and the second concerning applications (7 chapters) of advanced control systems. The first part “Advances in Theoretical Research on Automatic Control” consists of theoretical research results which deal with descriptor control impulsive delay systems, motion control in condition of conflict, inverse dynamic models, invariant relations in optimal control, robust adaptive control, bio-inspired algorithms, optimization of fuzzy control systems, and extremal routing problem with constraints and complicated cost functions. The second part “Advances in Control Systems Applications” is based on the chapters which consider different aspects of practical implementation of advanced control systems, in particular, special cases in determining the spacecraft position and attitude using computer vision system, the spacecraft orientation by information from a system of stellar sensors, control synthesis of rotational and spatial spacecraft motion at approaching stage of docking, intelligent algorithms for the automation of complex biotechnical objects, an automatic control system for the slow pyrolysis of organic substances with variable composition, simulation complex of hierarchical systems based on the foresight and cognitive modelling, and advanced identification of impulse processes in cognitive maps. The chapters have been structured to provide an easy-to-follow introduction to the topics that are addressed, including the most relevant references, so that anyone interested in this field can get started in the area. This book may be useful for researchers and students who are interesting in advanced control systems.

The Age of Spiritual Machines

The Age of Spiritual Machines
Author: Ray Kurzweil
Publisher: Penguin
Total Pages: 404
Release: 2000-01-01
Genre: Computers
ISBN: 1101077883
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NATIONAL BESTSELLER • Bold futurist Ray Kurzweil, author of The Singularity Is Near, offers a framework for envisioning the future of machine intelligence—“a book for anyone who wonders where human technology is going next” (The New York Times Book Review). “Kurzweil offers a thought-provoking analysis of human and artificial intelligence and a unique look at a future in which the capabilities of the computer and the species that invented it grow ever closer.”—BILL GATES Imagine a world where the difference between man and machine blurs, where the line between humanity and technology fades, and where the soul and the silicon chip unite. This is not science fiction. This is the twenty-first century according to Ray Kurzweil, the “restless genius” (The Wall Street Journal), “ultimate thinking machine” (Forbes), and inventor of the most innovative and compelling technology of our era. In his inspired hands, life in the new millennium no longer seems daunting. Instead, it promises to be an age in which the marriage of human sensitivity and artificial intelligence fundamentally alters and improves the way we live. More than just a list of predictions, Kurzweil’s prophetic blueprint for the future guides us through the inexorable advances that will result in: • Computers exceeding the memory capacity and computational ability of the human brain (with human-level capabilities not far behind) • Relationships with automated personalities who will be our teachers, companions, and lovers • Information fed straight into our brains along direct neural pathways Eventually, the distinction between humans and computers will have become sufficiently blurred that when the machines claim to be conscious, we will believe them.

Interpretable Machine Learning

Interpretable Machine Learning
Author: Christoph Molnar
Publisher: Lulu.com
Total Pages: 320
Release: 2020
Genre: Artificial intelligence
ISBN: 0244768528
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This book is about making machine learning models and their decisions interpretable. After exploring the concepts of interpretability, you will learn about simple, interpretable models such as decision trees, decision rules and linear regression. Later chapters focus on general model-agnostic methods for interpreting black box models like feature importance and accumulated local effects and explaining individual predictions with Shapley values and LIME. All interpretation methods are explained in depth and discussed critically. How do they work under the hood? What are their strengths and weaknesses? How can their outputs be interpreted? This book will enable you to select and correctly apply the interpretation method that is most suitable for your machine learning project.