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You're In Control: How and When AI Can Be a Powerful Decision-Making Tool, with Kuang Xu

You're In Control: How and When AI Can Be a Powerful Decision-Making Tool, with Kuang Xu

FromIf/Then: Research findings to help us navigate complex issues in business, leadership, and society


You're In Control: How and When AI Can Be a Powerful Decision-Making Tool, with Kuang Xu

FromIf/Then: Research findings to help us navigate complex issues in business, leadership, and society

ratings:
Length:
24 minutes
Released:
Feb 7, 2024
Format:
Podcast episode

Description

Artificial intelligence’s surge in power and accessibility has inspired polarized reactions. Some people are flocking to the technology with feverish excitement. Others can’t stay far enough away. Yet according to Kuang Xu, both of these responses might be the wrong ones."When people hear ‘AI,’ their brain kind of shuts down,” says Kuang, an associate professor of operations, information, and technology at Stanford Graduate School of Business. Whether someone feels exhilarated by the possibilities of AI or terrified by its uncertain impact, Kuang says these emotionally charged reactions are like “a fight or flight response,” inhibiting our ability to make good decisions. Yet when implemented in strategic ways, AI can enable leaders to make decisions that are driven by data. With just a few simple lines of code, data becomes a powerful tool for businesses to leverage. “What decision can you change if you had the information?” Kuang asks. “Remember, at the moment, AI or data science is all about information. At the end of the day, even in the best case, you have to take that information and do something about it.” It’s clear that artificial intelligence will integrate into every industry. Yet to harness its power, leaders need to make an emotional shift. They must, as this episode of If/Then: Business, Leadership, Society explores, move away from the fear of the change AI will bring, and instead see AI for the job it can do: provide data so leaders can make more informed decisions.Key Takeaways:Effects of emotional stress: Emotional stress clouds our decision making about how we can best implement this tool. AI is a Tool, not a god: Organizations need to rise above the narrative that AI is an all-knowing oracle and reframe it as a tool for targeted decision-making.Think of AI as an intern: The tool can carry out tasks, but we still want to double check its work. More Resources: Kuang Xu, Associate Professor of Operations, Information & TechnologyStanford GSB stories featuring Kuang Xu:Class Takeaways - Data Science and AI StrategyIs Your Business Ready to Jump Into A.I.? Read This First.Kuang Xu VoicesIf/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. Each episode features an interview with a Stanford GSB faculty member.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Feb 7, 2024
Format:
Podcast episode

Titles in the series (10)

How do we get people back to the office? How and when can AI be a powerful decision-making tool? How will digital currencies transform payment systems? On If/Then experts from Stanford Graduate School of Business share their research findings on a range of topics that intersect with business, leadership, and society. We’ll tackle practical, cutting-edge insights that will help you manage better, lead more confidently, and understand pressing issues affecting our lives. Join GSB senior editor and host Kevin Cool as we hear about the latest research in technology, economics, marketing, politics, and several other areas.