Bloom in a recent JEP paper considers that "the increase in computing power has made it possible to include uncertainty shocks directly in a wide range of models, allowing economists to abandon assumptions built on “certainty equivalence,” which refers to the amount of money that would be required as compensation for risk." (2nd paragraph of page 154, third point).
My understanding of Bloom's point is the idea that with computing power we can treat and exploit the heterogeneity of data. We can use high-frequency and/or large-scale data, in combination with computing power, to identify the role of uncertainty shock on economic outcomes.
My guess is that Bloom's point could be an implicit criticism of the expected utility theory given the importance of the certainty equivalent concept, and the related concept of risk premium, in this framework. Is this guess/interpretation right?