Newt talks with Professor Ajay Agrawal, a key player in the world of Artificial Intelligence and author of Power and Prediction: The Disruptive Economics of Artificial Intelligence. Agrawal discusses the rapid evolution of AI, highlighting the significant advancements made in the last decade. He explains that AI's core function is to improve prediction, but it also requires human clarity for value judgments within those predictions. Agrawal also discusses the potential for AI to dramatically increase productivity and trigger a large reallocation of capital. He predicts that AI will force society to be more explicit about value judgments and trade-offs, leading to increased transparency.