#83—Avi Goldfarb: AI-Generated Predictions as a Strategic Asset

Avi Goldfarb is the Rotman Chair in Artificial Intelligence and Healthcare and Professor of Marketing at Toronto's Rotman School of Management. He is also Chief Data Scientist at the Creative Destruction Lab, a fellow at Behavioral Economics in Action at Rotman, and a faculty affiliate at the Vector Institute for Artificial Intelligence. Avi has written extensively on a broad range of topics from marketing, statistics, law, management, medicine, political science, refugee studies, among many others. He has also conducted much deep work in the study of AI and machine learning and how businesses can wield and leverage the predictive capabilities of these technologies.In this podcast, he shares:Point-to-point changes v. the bigger, broader systemic changes that AI may introduceHow AI prediction changes judgement. Until now, most of the exploration of machine learning have been around prediction, but how will things change when AI starts getting good at judgement? The fascinating implications machine learning and AI will have on business decision-making, economics, and competitive advantage _________________________________________________________________________________________Episode Timeline:00:00—Highlight from today's episode00:44—Introducing Avi+ The topic of today’s episode2:21—If you really know me, you know that...2:50—Could you talk about cost of prediction coming on?6:25—Can machine learning surpass human judgment, or where do they have their place?9:30—Could you explain the point-to-point solutions vs. systemic changes?11:40—How does technology change power?14:27—Could you give us an example of the impact of AI-powered predictions in a practical real-life case?17:01—Do you think we have a reason to worry?19:01—How can people continue learning from you?__________________________________________________________________________________________Additional Resources: Personal Page: https://www.avigoldfarb.com/Linkedin: https://ca.linkedin.com/in/avi-goldfarb-46a7473Twitter: https://twitter.com/avicgoldfarb?lang=enThank you to our executive producer Zach Ness, our producer Nazanin Homayoun Jam and our editor James Pearce. If you enjoyed this episode, please follow, download, and subscribe. I’m your host, Kaihan Krippendorff—thank you for listening.Follow us at outthinker.com/podcast