“When prediction is cheap, there will be more prediction and more complements to prediction. These two simple economic forces drive the new opportunities that prediction machines create. At low levels, a prediction machine can relieve humans of predictive tasks and so save on costs. As the machine cranks up, prediction can change and improve decision-making quality. But at some point, a prediction machine may become so accurate and reliable that it changes how an organization does things. Some AIs will affect the economics of a business so dramatically that they will no longer be used to simply enhance productivity in executing against the strategy; they will change the strategy itself.” (Ajay Agrawal, Joshua Gans, and Avi Goldfarb. “Prediction Machines: The Simple Economics of Artificial Intelligence”, 2018)
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