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Digital twins and AI modeling can help companies determine exactly when maintenance should be done to maximize efficiency.

The Economics of Digital Twins and Predictive Maintenance

Large companies may be spending billions of dollars a year in inefficient maintenance on their capital goods, either doing too much maintenance and wasting money or not enough maintenance and dealing with equipment failure. Can digital twins and AI end this inefficiency?...
4 min read
Specialisation
Definitions

Specialisation

Published on January 29, 2020

Social costs
Definitions

Social costs

Published on January 29, 2020

Social benefits
Definitions

Social benefits

Published on January 29, 2020

Scarcity
Definitions

Scarcity

Published on January 29, 2020

Savings ratio
Definitions

Savings ratio

Published on January 29, 2020

Savings gap
Definitions

Savings gap

Published on January 29, 2020

Savings
Definitions

Savings

Published on January 29, 2020

Satisficing
Definitions

Satisficing

Published on January 29, 2020

Definitions

Sales maximisation

Published on January 29, 2020

Revenue maximisation
Definitions

Revenue maximisation

Published on January 29, 2020

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As AI makes fake news harder to distinguish from factual information, will consumers begin paying for verified sources?

The Economics of Deepfake Detection: Trust, Verification, and Information Markets

As AI makes fake news and misinformation harder and harder to detect, will consumers and producers begin paying for verification and certification of authenticity? Should governments get involved to re-establish trust in information to soothe roiling markets?...
4 min read

Recent Post

What would happen if sellers could use AI to determine how much you are willing and able to pay for every possible product?
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Thanks to the ease of remote work with today's technology, do cities still enjoy an agglomeration advantage?
The Geography of Remote Work: Are Cities Losing Their Agglomeration Advantage?
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Instead of paying for Internet ads or TV commercials featuring celebrities, many firms are now using social media influencers to endorse products.
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