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Does Prediction Machines Predict Our AI Future? A Review

Author

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  • Laurence Kotlikoff

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.

Suggested Citation

  • Laurence Kotlikoff, 2022. "Does Prediction Machines Predict Our AI Future? A Review," Journal of Economic Literature, American Economic Association, vol. 60(3), pages 1052-1057, September.
    • Handle: RePEc:aea:jeclit:v:60:y:2022:i:3:p:1052-57
    DOI: 10.1257/jel.20191519
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    More about this item

    JEL classification:

    • C45 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Neural Networks and Related Topics
    • C55 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Large Data Sets: Modeling and Analysis
    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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