Journal of Economic Literature
ISSN 0022-0515 (Print) | ISSN 2328-8175 (Online)
Does Prediction Machines Predict Our AI Future? A Review
Journal of Economic Literature
vol. 60,
no. 3, September 2022
(pp. 1052–57)
Abstract
Prediction Machines: The Simple Economics of Artificial Intelligence, by artificial intelligence (AI) experts, Ajay Agrawal, Joshua Gans, and Avi Goldfarb, pulls no punches. AI is all about prediction—machines learning precisely what to do for us and to us. The learning is occurring at warp speed, as AI uses big data to pick our brains for what we know and what we like. The authors are partly infatuated and partly terrified by AI's parasitic potential. Readers should read this chilling and insightful book, but they should do so with a bottle of scotch, ideally from one of Scotland's ancient distilleries that has recently been fully automated.Citation
Kotlikoff, Laurence. 2022. "Does Prediction Machines Predict Our AI Future? A Review." Journal of Economic Literature, 60 (3): 1052–57. DOI: 10.1257/jel.20191519Additional Materials
JEL Classification
- C45 Neural Networks and Related Topics
- C55 Large Data Sets: Modeling and Analysis
- E26 Informal Economy; Underground Economy
- M10 Business Administration: General
- M20 Business Economics: General
- O30 Innovation; Research and Development; Technological Change; Intellectual Property Rights: General