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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
Private cost
Definitions

Private cost

Published on January 29, 2020

Private benefit
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Private benefit

Published on January 29, 2020

Price floor
Definitions

Price floor

Published on January 29, 2020

Price ceiling
Definitions

Price ceiling

Published on January 29, 2020

Price
Definitions

Price

Published on January 29, 2020

Production possibility frontiers (PPFs)
Definitions

Production possibility frontiers (PPFs)

Published on January 29, 2020

Positive statement
Definitions

Positive statement

Published on January 29, 2020

Policy objective
Definitions

Policy objective

Published on January 29, 2020

Policy instruments
Definitions

Policy instruments

Published on January 29, 2020

Policy conflict
Definitions

Policy conflict

Published on January 29, 2020

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AI logo and network powe

Beyond the Chips: Why Cables, Connectors and Power Networks Matter to AI Growth

Artificial intelligence is often presented as a race for faster processors and more capable software. Yet every large AI system also depends...
3 min read

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