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file attached. 1 Week 1 – Discussion: AI in Business Consider what you have read so far in the learning materials for Week 1

May 6, 2024

file attached.

Consider what you have read so far in the learning materials for Week 1, and write a one-page summary about it. Focus on the use of Artificial Intelligence in Business.

The summary must present your understanding in your own words (500 words minimum). Use APA-style to cite sources in your work.

Structure your summary to include the following:

· Introduction

· Your comprehension

· Conclusion

Share your summary on the discussion board.

[Your post must be substantive and demonstrate insight gained from the course material.
Postings must be in the student’s own words – do not provide quotes!]

[Your initial post should be at least 500+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]

Week 1 – Case Study – The Simple Economics of Artificial Intelligence

In “Prediction Machines,” economists Ajay Agrawal, Joshua Gans, and Avi Goldfarb explore the advancement and growing use of artificial intelligence (AI). The key to AI is not actually intelligence but prediction. This text looks at the value of prediction and data, the importance of trade-offs, and the impact of AI in the workplace. Beneficial to business leaders, financial analysts, policy makers, and students, “Prediction Machines” offers insights, tools, and strategies on how to adapt businesses to the world’s ever-growing use of AI. Chapters 1 and 2 provide an introduction to the concept of prediction, discuss the economic cost of prediction machines, and describe how businesses can use prediction machines in their business strategy.

Five of the most common AI debates are listed blow. Apply the knowlege gained from the readings to critically examine how these questions affect society more broadly.

1. Will there still be jobs?

2. Will this generate more inequality?

3. Will few large companies control everything?

4. Will countries engage in race-to-the-bottom policy making and forfeit our privacy and security to give their domestic companies a competitive advantage?

5. Will the world end?

Requirements:

· There is no minimum or maximum required number of pages. Your analysis will be considered complete, if it addresses each of the 5 components outlined above.

· Use of proper APA formatting and citations. If supporting evidence from outside resources is used those must be properly cited.
A minimum of 5 sources (excluding the course materials) from scholarly articles or business periodicals is required.

· Include your best critical thinking and analysis to arrive at your justification.

· Approach the assignment from the perspective of the senior executive leadership of the company.

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