Reference no: EM133689612
Discussion Post: AI in Business
Consider what you have read so far in the learning materials, and write a one-page summary about it. Focus on the use of Artificial Intelligence in Business.
The summary must present your understanding in your own words (500 words minimum).
Structure your summary to include the following:
1) Introduction
2) Your comprehension
3) Conclusion
Case Study Problem: The Simple Economics of Artificial Intelligence
In "Prediction Machines," economists Ajay Agrawal, Joshua Gans, and Avi Goldfarb explore the advancement and growing use of artificial intelligence (AI). The key to AI is not actually intelligence but prediction. This text looks at the value of prediction and data, the importance of trade-offs, and the impact of AI in the workplace. Beneficial to business leaders, financial analysts, policy makers, and students, "Prediction Machines" offers insights, tools, and strategies on how to adapt businesses to the world's ever-growing use of AI. Chapters 1 and 2 provide an introduction to the concept of prediction, discuss the economic cost of prediction machines, and describe how businesses can use prediction machines in their business strategy.
Five of the most common AI debates are listed blow. Apply the knowlege gained from the readings to critically examine how these questions affect society more broadly.
A. Will there still be jobs?
B. Will this generate more inequality?
C. Will few large companies control everything?
D. Will countries engage in race-to-the-bottom policy making and forfeit our privacy and security to give their domestic companies a competitive advantage?
E. Will the world end?