How AI Is Making Prediction Cheaper

Avi Goldfarb, a professor at the University of Toronto’s Rotman
School of Management, explains the economics of machine learning, a
branch of artificial intelligence that makes predictions. He says
as prediction gets cheaper and better, machines are going to be
doing more of it. That means businesses — and individual workers —
need to figure out how to take advantage of the technology to stay
competitive. Goldfarb is the coauthor of the book “Prediction
Machines: The Simple Economics of Artificial Intelligence.”