“Despite the awesome predictive powers of AI, measured productivity growth has declined by half over the past decade.”
What’s going on here?
The impact of AI will take time until it is felt, argue Aja Agrawal, Joshua Gans, and Avi Goldfarb, co-authors of Power and Prediction: The Disruptive Economics of Artificial Intelligence. Right now, AI is confined to point solutions, and they call this phase — the introduction and proliferation of technology, prior to tangible benefits being realized — as “The Between Times.” What we have yet to see, they continue, are a “plethora of high-value solutions for AI.”
The two questions that need to be asked of AI include “What is AI really giving us?” and “If we are designing our business from scratch, how would we build our processes and business models?”
For starters, Agrawal and his co-authors advise, stop talking about AI as the avenue to “insights.” Insights “is a trigger word for us because it represents precisely this wrong way of thinking about how an AI advance will create value. For a new AI prediction, ‘insights’ is code for ‘we don't know what to do with that prediction.’”
Continue reading: https://www.forbes.com/sites/joemckendrick/2022/10/25/the-value-of-artificial-intelligence-isnt-just-insights/?sh=39386da67bee
What’s going on here?
The impact of AI will take time until it is felt, argue Aja Agrawal, Joshua Gans, and Avi Goldfarb, co-authors of Power and Prediction: The Disruptive Economics of Artificial Intelligence. Right now, AI is confined to point solutions, and they call this phase — the introduction and proliferation of technology, prior to tangible benefits being realized — as “The Between Times.” What we have yet to see, they continue, are a “plethora of high-value solutions for AI.”
The two questions that need to be asked of AI include “What is AI really giving us?” and “If we are designing our business from scratch, how would we build our processes and business models?”
For starters, Agrawal and his co-authors advise, stop talking about AI as the avenue to “insights.” Insights “is a trigger word for us because it represents precisely this wrong way of thinking about how an AI advance will create value. For a new AI prediction, ‘insights’ is code for ‘we don't know what to do with that prediction.’”
Continue reading: https://www.forbes.com/sites/joemckendrick/2022/10/25/the-value-of-artificial-intelligence-isnt-just-insights/?sh=39386da67bee
