The Age of Prediction

Algorithms, AI, and the Shifting Shadows of Risk

Igor Tulchinsky, Christopher E. Mason

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English

MIT Press
26 September 2023

Economics & Business; Economics

The power of the ever-increasing tools and algorithms for prediction and their paradoxical effects on risk.

The power of the ever-increasing tools and algorithms for prediction and their paradoxical effects on risk.

The Age of Prediction is about two powerful, and symbiotic, trends- the rapid development and use of artificial intelligence and big data to enhance prediction, as well as the often paradoxical effects of these better predictions on our understanding of risk and the ways we live. Beginning with dramatic advances in quantitative investing and precision medicine, this book explores how predictive technology is quietly reshaping our world in fundamental ways, from crime fighting and warfare to monitoring individual health and elections.

As prediction grows more robust, it also alters the nature of the accompanying risk, setting up unintended and unexpected consequences. The Age of Prediction details how predictive certainties can bring about complacency or even an increase in risks-genomic analysis might lead to unhealthier lifestyles or a GPS might encourage less attentive driving. With greater predictability also comes a degree of mystery, and the authors ask how narrower risks might affect markets, insurance, or risk tolerance generally. Can we ever reduce risk to zero? Should we even try? This book lays an intriguing groundwork for answering these fundamental questions and maps out the latest tools and technologies that power these projections into the future, sometimes using novel, cross-disciplinary tools to map out cancer growth, people's medical risks, and stock dynamics.

By: Igor Tulchinsky, Christopher E. Mason
Imprint: MIT Press
Country of Publication: United States
Dimensions: Height: 229mm, Width: 152mm,
Weight: 567g
ISBN: 9780262047739
ISBN 10: 026204773X
Pages: 232
Publication Date: 26 September 2023
Audience: General/trade , ELT Advanced
Format: Hardback
Publisher's Status: Active

Igor Tulchinsky is founder, chairman, and CEO of WorldQuant, a quantitative investment firm based in Old Greenwich, Connecticut. He is the author of Finding Alphas- A Quantitative Approach to Building Trading Strategies and The UnRules- Man, Machines and the Quest to Master Markets. Christopher E. Mason is Professor of Genomics, Physiology, and Biophysics at Weill Cornell Medicine and the Director of the WorldQuant Initiative for Quantitative Prediction. He also holds affiliate appointments at the New York Genome Center, Yale Law School, and the Consortium for Space Genetics at Harvard Medical School. Dr. Mason is the author of The Next 500 Years- Engineering Life to Reach New Worlds.