Wednesday, February 7, 2024

g-f(2)1939 Strategic AI Adoption: From Problem Identification to Solution Selection

 



genioux Fact post by Fernando Machuca and ChatGPT


Introduction:


In the fast-paced realm of artificial intelligence (AI), organizations are confronted with a myriad of options, each promising transformative solutions. However, the key lies not in the technology itself, but in understanding the problem at hand and selecting the most suitable approach. In their insightful article, "Find the AI Approach That Fits the Problem You’re Trying to Solve," George Westerman, Sam Ransbotham, and Chiara Farronato illuminate the importance of aligning AI strategies with organizational needs, urging leaders to ask the right questions to unlock the full potential of advanced analytics.



genioux GK Nugget:


"Start with the problem, not the technology. By understanding the intricacies of the problem you aim to solve, you pave the way for transformative AI solutions tailored to your organization's unique challenges." — Fernando Machuca and ChatGPT



genioux Foundational Fact:


The crux of successful AI implementation lies in identifying the most appropriate approach for the task at hand, rather than being swayed by the allure of cutting-edge technologies. Whether leveraging generative AI, traditional deep learning, econometrics, or rule-based automation, organizations must align their AI strategies with specific problem domains to drive meaningful outcomes.



10 Most Relevant genioux Facts:



  1. Organizations must prioritize problem identification over technology adoption to ensure effective AI utilization.
  2. AI strategies should be tailored to address the specific needs and constraints of each organizational context.
  3. Generative AI enables the creation of new data, images, text, or sound, offering novel solutions but requiring substantial computing power.
  4. Traditional deep learning techniques excel at pattern recognition but may lack explainability.
  5. Econometrics provides powerful tools for understanding causal relationships from observational data or experiments.
  6. Rule-based automation offers simplicity and transparency but may lack adaptability in complex scenarios.
  7. Decision-makers should consider factors such as the cost of errors, the need for explainability, and data reliability when selecting AI approaches.
  8. AI models must strike a balance between accuracy, explainability, and repeatability based on the problem domain and organizational constraints.
  9. Human feedback plays a crucial role in refining AI models and enhancing their performance over time.
  10. Successful AI implementation requires a staged approach, gradually expanding scope and sophistication to manage risks effectively.




Conclusion:


As the landscape of AI continues to evolve, organizations must navigate the complexities of technology adoption with a clear focus on problem-solving. By asking the right questions and selecting AI approaches that align with organizational objectives, leaders can harness the full potential of advanced analytics to drive innovation and sustainable growth.



REFERENCE

The GK Article


George Westerman, Sam Ransbotham, and Chiara FarronatoFind the AI Approach That Fits the Problem You’re Trying to Solve, Harvard Business ReviewFebruary 06, 2024.



George Westerman


George Westerman is a Senior Lecturer at the MIT Sloan School of Management and the founder of the Global Opportunity Forum (GOF) in MIT’s Office of Open Learning⁸⁹. He is a world-recognized thought leader in leading transformation and competitive advantage through technological innovation⁹.


His work bridges the fields of executive leadership and technology strategy. During his tenure at MIT Sloan School of Management, he has written three award-winning books, including "Leading Digital: Turning Technology Into Business Transformation"⁸. He has also published papers in Harvard Business Review, Sloan Management Review, and other top journals⁸.


The GOF, which he founded, aims to transform workforce learning worldwide by building a community of organizations that use innovative methods to help individuals take charge of their careers⁴. The forum shares stories, curates best practices, and co-creates new solutions to tough problems¹.


Before earning a Doctorate from Harvard Business School, George gained more than 13 years of experience in product development and technology leadership roles⁸. He frequently works with senior management teams and industry groups around the world⁸. He is also a member of the Digital Strategy Roundtable for the US Library of Congress, Co-Chairman of the MIT Sloan CIO Leadership Awards, and Faculty Director for several MIT executive courses⁹.


Source: Conversation with Bing, 2/7/2024

(1) George F Westerman | MIT Sloan. https://mitsloan.mit.edu/faculty/directory/george-f-westerman.

(2) George Westerman | Professional Education. https://professional.mit.edu/programs/faculty-profiles/george-westerman.

(3) About - Global Opportunity Forum. https://gof.mit.edu/about/.

(4) The Global Opportunity Forum | ILP. https://ilp.mit.edu/GOF23.

(5) Home - Global Opportunity Forum. https://gof.mit.edu/.

(6) Global Opportunity Forum celebrates one year with executive roundtable .... https://goi.mit.edu/2023/07/07/global-opportunity-forum-celebrates-one-year-with-executive-roundtable-in-london/.

(7) The Global Opportunity Forum Co-creating the Future ... - MIT Open Learning. https://openlearning.mit.edu/events/global-opportunity-forum-co-creating-future-workforce-learning.

(8) . https://bing.com/search?q=George+Westerman+MIT+Sloan+School+of+Management.

(9) MIT Sloan School of Management. https://mitsloan.mit.edu/.

(10) undefined. http://goi.mit.edu.

(11) undefined. https://bing.com/search?q=.



Sam Ransbotham


Sam Ransbotham is a Professor of Business Analytics at the Boston College Carroll School of Management¹². He earned his bachelor’s degree in chemical engineering, an MBA, and a PhD, all from the Georgia Institute of Technology¹². He teaches courses such as “Machine Learning and Artificial Intelligence” and “Analytics in Practice”¹².


Ransbotham is a recognized expert in IT security, artificial intelligence, and the strategic use of IT¹. He serves as a Senior Editor at Information Systems Research, an Associate Editor at Management Science, and an Academic Contributing Editor at the MIT Sloan Management Review¹. He has been honored with an NSF CAREER Award for his analytics-based research in security and an INFORMS ISS Sandy Slaughter Early Career Award¹.


In addition to his academic work, Ransbotham co-hosts the “Me, Myself, and AI” podcast with Shervin Khodabandeh (BCG), where they discuss the successes and challenges of AI implementation in various companies⁴⁵. The podcast is available on all major platforms⁴⁵.


Before earning his doctorate, Ransbotham was the founder and principal of a software company with a globally diverse client list¹. He is also a visiting scholar at Harvard Business School during 2022-2023².


Source: Conversation with Bing, 2/7/2024

(1) Sam Ransbotham - Carroll School of Management - Boston College. https://www.bc.edu/bc-web/schools/carroll-school/faculty-research/faculty-directory/sam-ransbotham.html.

(2) Sam Ransbotham. https://www.samransbotham.com/.

(3) Me, Myself, and AI - MIT Sloan Management Review. https://sloanreview.mit.edu/audio-series/me-myself-and-ai/.

(4) ‎Me, Myself, and AI on Apple Podcasts. https://podcasts.apple.com/us/podcast/me-myself-and-ai/id1533115958.

(5) Where Machines and Management Intersect - Carroll ... - Boston College. https://www.bc.edu/bc-web/schools/carroll-school/news/2020/my-myself-and-ai/_jcr_content.html.

(6) Me, Myself, and AI | Podcasts on Audible | Audible.com. https://www.audible.com/pd/Me-Myself-and-AI-Podcast/B08K56HXNX.

(7) Me, Myself, a… - Listen to All Episodes | Technology | TuneIn. https://tunein.com/podcasts/Technology-Podcasts/Me-Myself-and-AI-p1369641/.



Chiara Farronato


Chiara Farronato is the Glenn and Mary Jane Creamer Associate Professor of Business Administration in the Technology and Operations Management Unit at Harvard Business School¹². She is also a co-Principal Investigator of the Platform Lab at the Digital Design Institute (D^3) at Harvard¹⁵.


Farronato's research focuses on the growth of digital platforms, such as Amazon and Airbnb, and explores key decisions managers need to make when crafting growth strategies that attract new users and intensify use by existing platform participants¹. She teaches Data Science for Managers in the required curriculum at Harvard Business School, for which she received the 2024 Apgar Award for Innovation in Teaching¹.


Before joining Harvard, Farronato earned her Ph.D. in Economics from Stanford University and her M.Sc. in Economics from Bocconi University, Italy & Catholic University of Louvain, Belgium². She was also the founder and principal of a software company with a globally diverse client list².


At the D^3 Institute, the Platform Lab is building a research-based roadmap for businesses and policymakers. The aim is to give them insights and routes to innovation based on rigorous research⁵. The lab is built on the six principles that underpin the D^3 Institute⁵.


Source: Conversation with Bing, 2/7/2024

(1) Chiara Farronato - Faculty & Research - Harvard Business School. https://www.hbs.edu/faculty/Pages/profile.aspx?facId=775022.

(2) Chiara Farronato - Harvard Business School. https://www.hbs.edu/ris/Profile%20Files/Farronato_CVshort_Jan2024_7acc2f26-0a5c-4d69-87fc-71f95fb9d986.pdf.

(3) Platform Lab | Digital Data Design Institute at Harvard. https://d3.harvard.edu/labs/platform-lab/.

(4) Chiara Farronato - Harvard Graduate School of Design Executive Education. https://execed.gsd.harvard.edu/instructors/chiara-farronato/.

(5) Chiara Farronato · Harvard Data Science Review. https://hdsr.mitpress.mit.edu/pub/6y6keuar.

(6) Labs Archive | Digital Data Design Institute at Harvard. https://d3.harvard.edu/labs/.

(7) blackbox Lab | Digital Data Design Institute at Harvard. https://d3.harvard.edu/labs/blackbox-lab/.



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Categorization


This genioux Fact post is classified as Bombshell Knowledge which means: The game-changer that reshapes your perspective, leaving you exclaiming, "Wow, I had no idea!"



Type: Bombshell Knowledge, Free Speech


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References


genioux facts”: The online program on "MASTERING THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)1939, Fernando Machuca and ChatGPTFebruary 7, 2024, Genioux.com Corporation.
 
The genioux facts program has established a robust foundation of over 1938 Big Picture of the Digital Age posts [g-f(2)1 - g-f(2)1938].



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