Blog

This is the blog section of Professor Ajay Agrawal’s official website. Here you will find articles featuring interviews with Professor Agrawal about the economics of artificial intelligence, as well as news updates about his work and field of studies.

Professor Agrawal Nominated for Thinkers50 Digital Thinking Award

Professor Ajay Agrawal along with Professors Joshua Gans and Avi Goldfarb have been nominated for the Digital Thinking Award. The award is part of the Distinguished Achievement Awards by Thinkers50, the global leaders in ranking management ideas.

The three coauthors of the bestselling ‘Prediction Machines: The Simple Economics of Artificial Intelligence’ (Harvard Business Review Press, 2018) debunk some of the mystery surrounding AI and show how its transformative potential derives from the technology's ability to make better and more accurate predictions .

Other Rotman School of Management professors to be nominated include András Tilscik and his colleague Chris Clearfield for their book ‘Meltdown: Why Our Systems Fail and What We Can Do About It’ (Penguin Press, 2018), which won the 2019 National Business Book Award in Canada.

According to its website, ‘Thinkers50 is the world’s most reliable resource for identifying, ranking, and sharing the leading management ideas of our age. We are based in London, with partners and affiliations around the globe. Our ambition is to provide innovative access to ideas with the power to make the world a better place.’

Read more at the original Rotman article or download the official press release with the full list of nominations here.

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'Prediction Machines' Nominated for George R. Terry Book Award 2019

Prediction Machines: The Simple Economics of Artificial Intelligence” has been selected as a finalist for the 2019 George R. Terry Book Award.

This award is granted annually to the book judged to have made the most outstanding contribution to the global advancement of management knowledge during the last two years. This year’s committee membership included Ann Langley, Michael G. Pratt, Paul Leonardi, Sharon A. Alvarez and Yves Doz, from HEC Montréal, Boston College, University of California at Santa Barbara, University of Pittsburgh and INSEAD, respectively.

Prediction Machines is one of five book finalists being recognized this year from among a field of over fifty books nominated from publishers around the globe.

This is the message Professor Agrawal received from the committee:

“Your book stood out to the committee as exemplary because we found it to be a remarkable synthesis of knowledge on artificial intelligence from a decision-making perspective, a topic that is important and extremely timely. The way it frames the role of AI is very useful and backed by good research.”

The Academy of Management acknowledges all award finalists and winners through multiple media channels, including a recognition video that is displayed during the Annual Meeting, acknowledgement on the AOM website, publication in the AcadeMY News and in the 2019 Annual Report.

The award presentation to recognize this prestigious accomplishment will take place at the Academy’s Annual Meeting in Boston, Massachusetts, USA on August 11, 2019.

More information on the George R. Terry Book Award can be found on the Academy of Management website here.

Prediction Machines Book Released in Japan

Following on from our January update regarding the coverage of Prediction Machines and Professor Agrawal in India, this article highlights more international exposure and acclaim, this time from Japan.

‘Prediction Machines’ was released in Japan in early February 2019 with a translated title of ‘A Century of Predictive Machines - A New Economy Driven by AI’ ( ‘予測マシンの世紀―ーAIが駆動する新たな経済’ )

Professor Ajay Agrawal (アジェイ アグラワル) appeared in two recent articles for project.nikkeibp.co.jp. Test out your Japanese language skills by following the links below:

  1. In the past year, AI began to change business - "Century of Prediction Machine" Author's Appeal, AI's Impact (Part 1)

  2. In the future when Japan can play an active part in AI - "Century of Prediction Machine" Author's Appeal, AI's Impact (Part 2)

May 2019 Update

Professor Agrawal has been featured in three more articles in Japanese, including Forbes Japan:

  1. Article in Nishi Nippon

  2. Article in Forbes Japan

  3. Article in Beauty Tech Japan

Click here to view a rare 6-page special in Nikkei Business on Professor Agrawal and AI.

Professor Ajay Agrawal - Image from the Project Nikkei Article

Professor Ajay Agrawal - Image from the Project Nikkei Article

Prediction Machines Coverage in the Print Media in India

The book ‘Prediction Machines - The Simple Economics of Artificial Intelligence’, co-written by University of Toronto professors Ajay Agrawal, Joshua Gans, and Avi Goldfarb, was released in April 2018. It quickly achieved success as it became an Amazon Canada best-seller in the non-fiction category. It was also featured on numerous publications in the US such as the New York Times, the Economist, Wall Street Journal, and the Financial Times.

What is refreshing about the book, and added to the debate concerning the impact artificial intelligence will have on business and society, were a number of factors:

  1. This is a book written by economists about artificial intelligence and so gives a different perspective to a field dominated in the media by the thoughts of theoretical physicists, technologists, and business leaders. Economists have a habit of looking at what a new technology will make cheaper and the ramifications this will have on the economy and wider society.

  2. The book is also a look at AI in its current state and what it means for business today. It is less concerned with general AI and all the huge philosophical and moral issues surrounding that topic.

  3. Finally, the book gives business leaders a framework into how to use AI to adapt or even revolutionize their current business models. It is a practical book that gives access to strategical insights and tips to implement and use today or in the near future.

As well as getting a lot of press coverage in North America, because of the reasons outlined above, the book achieved widespread global coverage, including being featured in numerous broadsheets in the print media in India.

This article provides six examples of this:

1.‘India Could be the Data Hub for the New AI Arrival’ by Anirudh Bhattacharyya - Hindustan Times, New Delhi - April 28, 2018

2. ‘As AI Takes Over’ - Indian Management Monthly, Mumbai - May 2018

3. Prediction Machines Book Review - The Hindu, Chennai - June 6, 2018

4. ‘From Agriculture to Art: The AI Wave Sweeps In’ by Steve Lohr - Deccan Herald, Bengaluru - October 23, 2018 (originally featured in the New York Times)

5. ‘Robots Won’t Take Away Everyone’s Jobs’ by Noah Smith - The Financial Express, New Delhi - November 5, 2018 (originally featured on Bloomberg)

6. ‘Mind and Machine’ - Business Standard, New Delhi - November 10, 2018

Prediction Machines, Business Standard, New Delhi, Nov1018.jpg