Examples on how AI lower the prediction costs are numerous – from Amazon’s selling engines to insurance risk calculations to the more mundane laser’s continuous scanning mounted on cars. However, the book goes well beyond that – by analyzing how will the predictions will change the marketplace. Imagine a world with low transaction costs, where consumers are spoiled with a large choice of on-demand and on-specs supplies variety of products, with fast logistics and cool ever-changing designs. Speed of reaction is a very thing in such a market, so how will you choose to react?
I leave this question to the more enlightened corporate CEOs – and to our readers to think how they want to shape this AI enabled brave new world. Enjoy the read!
“Prediction Machines” is a book published by Harvard Business Review in 2018.