Prediction Machines Book

'Prediction Machines - The Simple Economics of Artificial Intelligence', co-authored by Professors Ajay Agrawal, Joshua Gans, and Avi Goldfarb, is a critically acclaimed Amazon best-selling book about the current and future economic impact of artificial intelligence. It was released on April 17, 2018. It was recently added to Forbes top creative leadership books of 2018.

Testimonials for Prediction Machines: The Simple Economics of Artificial Intelligence

"AI may transform your life. And Prediction Machines will transform your understanding of AI. This is the best book yet on what may be the best technology that has come along."

Larry Summers, Harvard Professor and former US Treasury Secretary, former Chief Economist of the World Bank, and former president of Harvard University


"This book makes artificial intelligence easier to understand by recasting it as a new cheap commodity -- predictions. It's a brilliant move. I found the book incredibly useful."

Kevin Kelly,  Founding Executive Editor of WIRED and Author of What Technology Wants and The Inevitable


"Prediction Machines achieves a feat as welcome as it is unique: a crisp, readable survey of where artificial intelligence is taking us separates hype from reality, while delivering a steady stream of fresh insights. The key is that the authors view AI's life-changing developments through the lens of economics vs technology -- and thus speak in a language top executives and policymakers will understand.  Every leader needs to read this book."

Dominic Barton, Global Managing Partner, McKinsey & Company


“Prediction Machines is a pathbreaking book that focuses on what strategists and managers really need to know about the AI revolution. Taking a grounded, realistic perspective on the technology, the book uses principles of economics and strategy to understand how firms, industries, and management will be transformed by AI.”

Susan Athey, Stanford Professor and former Chief Economist at Microsoft


“Prediction Machines is a must-read for business leaders, policymakers, economists, strategists, and anyone who wants to understand implications of AI on designing business strategies, decisions, and how AI will impact our society. Read this book and learn from the best!”

Ruslan Salakhutdinov, Carnegie Mellon Professor and Director of AI Research at Apple


“What does AI mean for my business? Read this book to find out.”

Hal Varian, Chief Economist, Google


"This is the first book to explain the economics of artificial intelligence. It's a must-read for every business person interested in this technology. I encounter so many people who feel excited but overwhelmed by AI. This book will ground those feeling lost by giving them a practical framework." 

Shivon Zilis, OpenAI Director and Partner at Bloomberg Beta


“The current AI revolution will likely result in abundance, but the process of getting there requires deliberation on tough topics that include increasing unemployment and income disparity. This book presents frameworks that allow decision makers to deeply understand the forces at play."

Vinod Khosla, Khosla Ventures and Founding CEO of Sun Microsystems


“AI's the most transformative technology of our era. Agrawal, Gans, and Goldfarb not only understand its essence, but also deliver deep insights into its economic implications and intrinsic trade-offs. If you want to clear the fog of AI hype and see clearly the core of AI's challenges and opportunities for society, your first step should be to read this book.”

Erik Brynjolfsson, MIT Professor and Author of The Second Machine Age and Machine Platform Crowd


"An excellent book on the economics of Artificial Intelligence. Steeped in both economics and AI/ML, this book steers clear of hype (or anti-hype), applying standard economic concepts to a rapidly emerging phenomenon. The book is geared to business readers not economists or policymakers but it has a lot to offer to everyone... Highly recommended."

Jason Furman, former Chair of President Obama's Council of Economic Advisors


"It is undoubtedly a long way from many of the books written on the topic, but I would argue it is considerably more valuable than those that venture into the realms of science fiction.  It's often said that whenever you want to change, you have to start from where you are, and today most executives are largely clueless about how and why AI matters to them.

As such, framing AI in terms of its predictive capabilities is not only a realistic portrayal of its capabilities today, but also one that business leaders can both understand and act upon.  For that alone, the book is worth reading."

Adi Gaskell, Forbes


“If you’re among the many leaders unclear whether artificial intelligence will make your job easier or your association stronger, consider picking up Prediction Machines: The Simple Economies of Artificial Intelligence.”

Kristin Clark, Associations Now


"Artificial intelligence is poised to disrupt every industry, but many business leaders I speak to are still trying to wrap their heads around the transformative tech. This book written by three brilliant minds from the University of Toronto is invaluable for business leaders looking for a primer on how AI might impact them.”

Dave McKay, President & CEO, Royal Bank of Canada


"It's one of the best books I've read so far about how artificial intelligence will impact our daily lives."

Lawrence Wong, Minister for National Development and Second Minister for Finance, Singapore


"Much has been written about AI, and much more will surely be written in the months and years ahead. But for its engaging mix of insight and practical advice, Prediction Machines gets my vote for one of the must-reads on the topic."

Theodore Kinni, Contributing Editor, Strategy+Business


“Prediction Machines is a down-to-earth and realistic look at AI from an economics and business perspective.”

Susan Athey, Economics of Technology Professor, Stanford University