9:15–10:15 a.m.

Power and Prediction: The Disruptive Economics of Artificial Intelligence

Ajay Agrawal
​Geoffrey Taber Chair in Entrepreneurship and Innovation
Founder and Academic Director of the Creative Destruction Lab
Rotman School of Management, University of Toronto

  • Many applications of AI enhance productivity by improving upon existing predictive analytics—such as banking applications in fraud detection, anti-money laundering, know your customer, credit scoring, and sanction screening—but some uses have a more profound effect: They shift power and can change market structure.
  • When AI simply improves upon existing predictive analytics, power structures do not change, so the strategic implications are limited. In these cases, success depends primarily on well-managed implementation; the objective is enhanced operational efficiency.
  • Decisions concerning when, where, and how to deploy AI to improve upon existing predictive analytics require oversight from the COO but not the CEO. These AIs are tactical, not strategic.
  • Learn about the wide-ranging work of the Creative Destruction Lab—the largest seed-stage program for massively scalable science-based programs.