Technology bubbles can pose difficult quandaries for business leaders: They may feel pressure to invest early in an emerging technology to gain an advantage over competitors but don’t want to fall for empty hype. As we enter a period of greater economic uncertainty and layoffs in multiple industries, executives are grappling with questions about where to cut costs and where to invest more.
The rapidly developing field of artificial intelligence and machine learning poses a particular challenge to business decision makers. Investments in proven predictive models are increasingly seen as sound and are expected to drive an increase in spending on AI from $33 billion in 2021 to $64 billion in 2025. But further out on the cutting edge, generative AI is sparking a huge amount of noise and speculation.
Generative AI refers to machine learning models — such as ChatGPT, Bing AI, DALL-E, and Midjourney — that are trained on vast databases of text and images to generate new text and images in response to a prompt. Headlines like “Ten ChatGPT Hacks You Can’t Live Without!” and “You’re Using ChatGPT Wrong! Here’s How to Be Ahead of 99% of ChatGPT Users” have begun to proliferate. Meanwhile, Axios reported that funding is pouring into generative AI, rising from $613 million in 2022 to $2.3 billion in 2023 — money that will only fuel the hype cycle.
Diese Geschichte stammt aus der Summer 2023-Ausgabe von MIT Sloan Management Review.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der Summer 2023-Ausgabe von MIT Sloan Management Review.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Ask Sanyin: How Do You Build for an Unpredictable Future?
While the pandemic was a wild ride of uncertainty for me and many of my peers in leadership, it feels like we never regained our footing.
What You Still Can't Say at Work
Most people know what can’t be said in their organization. But leaders can apply these techniques to break through the unwritten rules that make people self-censor.
Make Character Count in Hiring and Promoting
Most managers focus on competencies when evaluating candidates but it’s character that will transform the DNA of the organization. Here’s how to assess it.
Why Influence Is a Two-Way Street
Managers achieve better outcomes when they prioritize collaborative decision-making over powers of persuasion.
Know Your Data to Harness Federated Machine Learning
A collaborative approach to training AI models can yield better results, but it requires finding partners with data that complements your own.
How Integrating DEI Into Strategy Lifts Performance
Incorporating diversity, equity, and inclusion practices into core business planning can provide a competitive edge.
The Myth of the Sustainable Consumer
Companies that understand the different kinds of consumers for sustainable products can market to them more effectively.
A Practical Guide to Gaining Value From LLMs
Getting a return from generative AI investments requires a systematic approach to analyzing appropriate use cases.
Improve Workflows by Managing Bottlenecks
Understand whether process or resource constraints are stalling work.
Craft Schedules That Work for Everyone
Business leaders can improve retention and business performance with schedules that make sense for workers’ lives.
