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Kindle Notes & Highlights
by
Ajay Agrawal
Read between
June 6 - September 4, 2018
The cookie records information about website visitors but, most critically, information about the type of sites, including shopping sites, they frequent.
Websites sell data about their visitors to companies that place advertisements.
they buy data that helps them identify high-value customers.
They also may buy data that helps them avoid advertising to low-value customers.
Unique data is important for creating strategic advantage.
If data is not unique, it is hard to build a business around prediction machines.
Without data, there is no real pathway to learning, so AI is not c...
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Thus, better prediction may help an organization, even if the data and predictions are not likely to be sources of strategic advantage.
that data resides with others, you need a strategy to get it.
If the data resides with an exclusive or monopoly provider, then you may find yourself at risk of having that provider appropriate the entire value of your AI. If the data resides with competitors, there may be no strategy that would make it worthwhile to procure it from them. If the data resides with consumers, it can be exchanged in return for a better product or higher-quality service.
Whether you collect your own data and make predictions or buy them from others depends on the importance of prediction machines to your company.
if prediction machines are to be the center of your company’s strategy, then you need to control the data to improve the machine, so both the data and the prediction machine must be in house.
KEY POINTS
Your Learning Strategy
To be mobile-first is to drive traffic to your mobile experience and optimize consumers’ interfaces for mobile even at the expense of your full website and other platforms
To gain experience about all your customers, you may sometimes need to degrade the product for those customers in order to get feedback that will benefit everyone.
the ironic unintended consequence is that human pilots garner less experience and become even worse.
KEY POINTS
Shifting to an AI-first strategy means downgrading the previous top priority.
An AI-first strategy places maximizing prediction accuracy as the central goal of the organization, even if that means compromising on other goals such as maximizi...
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Managing AI Risk
The majority of the workforce was trained decades ago, which translates to a need for retraining and reskilling. Our industrial education system is not designed for that. Businesses should not expect the system to change quickly enough to supply them with the workers they need to compete in the AI age. The policy challenges are not simple: increased education is costly. Such costs need to be paid, either by higher taxes or by businesses and individuals directly. Even if the costs could be easily covered, many middle-aged people might not be eager to return to school. The people most hurt by
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Will a Few Huge Companies Control Everything?
Technology-based monopolies are temporary due to a process that economist Joseph Schumpeter called “the gale of creative destruction.”
However, that doesn’t mean that just one firm will dominate or that even if one dominates, it will last long. On a global scale, that is even truer.
KEY POINTS
Economists agree that technological advance makes us better off and enhances productivity.
The problem isn’t wealth creation; it’s distribution.
