Ajay Agrawal explains economics of AI and what organisations can do with it

Whether AI good or bad is like asking if fire or electricity are good or bad, according to Agrawal

One of the first books that strategy consultants recommend to their clients interested in adopting artificial intelligence (AI) in their businesses is Prediction Machines: The Simple Economics of Artificial Intelligence. Co-authored by Ajay Agrawal, the book says that as the cost of prediction reduces hugely, AI can enable organisations to use predictions for better decision-making, and drive business strategy.

We are meeting over lunch at the late Jiggs Kalra's molecular gastronomy outfit Masala Library in Mumbai, where we order the set lunch. Canadian-born Agrawal is visiting Mumbai on invitation from independent think-tank Gateway House for a talk on the key economic