Rotman Chair In Artificial Intelligence and Healthcare At The Rotman School Of Management, University Of Toronto
Avi Goldfarb holds the Rotman Chair in Artificial Intelligence and Healthcare and a professor of marketing at the Rotman School of Management, University of Toronto. Avi is the Chief Data Scientist at the Creative Destruction Lab, a faculty affiliate at the Vector Institute and the Schwartz-Reisman Institute for Technology and Society, and a Research Associate at the National Bureau of Economic Research. Avi is also a scientific leadership team member at Acceleration Consortium. Avi’s research focuses on the opportunities and challenges of the digital economy.
Along with Ajay Agrawal and Joshua Gans, Avi is the author of the bestselling books Prediction Machines: The Simple Economics of Artificial Intelligence and Power and Prediction: The Disruptive Economics of Artificial Intelligence.
He has published academic articles in marketing, statistics, law, management, medicine, political science, refugee studies, physics, computing, and economics. Avi is a former Senior Editor at Marketing Science. His work on online advertising won the INFORMS Society of Marketing Science Long Term Impact Award. He testified before the U.S. Senate Judiciary Committee on competition and privacy in digital advertising. His work has been referenced in White House reports, European Commission documents, the New York Times, the Economist, and elsewhere.
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Power and Prediction:
The Disruptive Economics of Artificial Intelligence
Ajay Agrawal, Joshua Gans, Avi Goldfarb
Banking and finance, pharmaceuticals, automotive, medical technology, retail. Artificial intelligence (AI) has made its way into many industries around the world. But the truth is, it has just begun its odyssey toward cheaper, better, and faster predictions to drive strategic business decisions—powering and accelerating business. When prediction is taken to the max, industries transform. The disruption that comes with such transformation is yet to be felt—but it is coming.
How do businesses prepare? 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 further to reveal AI as a prediction technology directly impacting decision-making and to teach businesses how to identify disruptive opportunities and threats resulting from AI. Their exhaustive study of new developments in artificial intelligence and the past history of how technologies have disrupted industries highlights the striking phase we are now in: after witnessing the power of this new technology and before its widespread adoption—what they call "the Between Times." While there continue to be important opportunities for businesses, there are also threats of disruption. As prediction machines improve, old ways of doing things will be upended. Also, the process by which AI filters into the many systems involved in application is very uneven. That process will have winners and losers. How can businesses leverage, or protect, their positions?
Filled with illuminating insights, rich examples, and practical advice, Power and Prediction is the must-read guide for any business leader or policy maker on how to make the coming AI disruptions work for you rather than against you.
Prediction Machines: The Simple Economics of Artificial Intelligence
Ajay Agrawal, Joshua Gans, Avi Goldfarb
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.
Creative Destruction Lab
Avi is the Chief Data Scientist at the Creative Destruction Lab. The Creative Destruction Lab (CDL) is a nonprofit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies. The CDL operates several sites around the world. Avi moderates streams related to healthcare, artificial intelligence, and quantum technology.
Acceleration Consortium
Avi is a scientific leadership team member at Acceleration Consortium. Acceleration Consortium is the world's leading network at the forefront of material discovery. With self-driving labs merging AI, robotics, and advanced computing, we're revolutionizing how advanced materials are designed and tested. Together, we're making sustainable and affordable breakthroughs that transform our world for the better.
Reviews
“AI may be to the twenty-first century what electricity was to the twentieth. This is the best book yet that considers what it will mean for all who participate in our economy.”
— Lawrence H. Summers, Charles W. Eliot, University Professor and former president Harvard University; former secretary, US treasury; and former chief economist, World Bank
Power and Prediction
Prediction Machines
“Prediction Machines is a path-breaking book that focuses on what strategists and managers really need to know about the AI revolution.”
— Susan Athey, Economics of Technology Professor, Stanford University; former consulting researcher, Microsoft Research New England