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Thanks to APIs, many programmers can create add-ons and extensions to existing software.

API Economies and the Modularization of Production

Thirty years ago, you had to buy entirely new software when your current program became obsolete. Today, you can download an extension, patch, or upgrade. Thanks to APIs, application programming interfaces, these "modular" additions to software can come from virtually anywhere....
4 min read
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Managing the economy

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Saddique Ansari • February 04, 2019 • 1 min read

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PRICE LEVEL C I G X M AD
200 300 50 100 50 450 50
180 320 60 105 100 425 160
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140 360 80 115 200 375 380
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100 400 100 125 300 325 600
80 420 110 130 350 300 719
60 440 120 135 400 275 820

 


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Although increasingly popular, AI still makes serious mistakes...which could cost companies big bucks in damages.

The Economics of AI Hallucinations and Error Costs

To save money on labor, many companies want to use AI to automate basic office functions, from customer service to research. However, AI is prone to making mistakes that are confidently presented as accurate facts. What are the economic implications of unchecked AI use by companies?...
5 min read

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