Leading Through The Disruptive Economics of Artificial Intelligence with Professor Ajay Agrawal

In this Partnering Leadership conversation, Mahan Tavakoli speaks with Professor Ajay Agrawal, the Geoffrey Taber Chair in Entrepreneurship and Innovation and Professor of Strategic Management at the University of Toronto's Rotman School of Management. Ajay Agrawal is also the founder of the Creative Destruction Lab (CDL), a not-for-profit program for early-stage, science-based companies, and coauthor of two outstanding books on Artificial Intelligence: Prediction Machines: The Simple Economics of Artificial Intelligence and Power and Prediction: The Disruptive Economics of Artificial Intelligence. In the conversation, Professor Agrawal shared the origin of his passion for studying the intersection of technology and economics and the increasing importance of artificial intelligence for organizations as a decision-making tool that brings down the cost of prediction. Ajay Agrawal then explained why this shift would significantly impact individuals, organizations, and industries as machines enable better predictions while humans focus on the judgment required for decision-making. Finally, Ajay Agrawal shared examples of the transformative impact of the reduction in the cost of prediction and how leaders can help guide their organizations through the significant changes ahead.