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Thursday, October 31, 2024

g-f(2)3146 Intelligent Choices: Reshaping Decision-Making and Productivity in the Age of AI

 


g-f Fishing on Technology & Innovation (10/31/2024)


genioux Fact post by Fernando Machuca and Gemini

Categorization:

  • Type: Bombshell Knowledge, Free Speech
  • Category: g-f Lighthouse of the Big Picture of the Digital Age
  • The Power Evolution Matrix:
    • Foundational pillar: g-f Fishing
    • Power layers: Strategic Insights, Technology & Innovation


Introduction:


In the dynamic landscape of the g-f New World, leaders must leverage cutting-edge technologies like AI to enhance decision-making and drive organizational success. This executive guide distills the key insights from the MIT Sloan Management Review article, "Intelligent Choices Reshape Decision-Making and Productivity," providing actionable g-f Golden Knowledge to empower leaders in navigating this new era.



genioux GK Nugget:


"AI-driven intelligent choice architectures can revolutionize decision-making by providing leaders with better options, leading to superior outcomes."  — Fernando Machuca and Gemini, October 31, 2024 



genioux Foundational Fact:


Integrating AI into organizational processes can significantly improve the quality and efficiency of decision-making. By creating intelligent choice architectures, leaders can leverage AI's analytical capabilities to generate more innovative and effective solutions.    



The 10 Most Relevant genioux Facts:


  1. Better Choices, Better Decisions: Prioritizing the generation of diverse and high-quality choices through AI can significantly enhance the decision-making process.    
  2. AI-Powered Options: Generative AI and predictive systems can identify hidden options, highlight interdependencies, and suggest innovative pathways to success.   
  3. Human-Centered Design: AI initiatives should be designed by people for the people, ensuring that technology serves human needs and problem-solving.    
  4. Intelligent Choice Architectures: Leaders can utilize AI to design choice architectures that influence decision-making by organizing the context and presenting options in a way that encourages optimal choices.    
  5. Nudging for Innovation: AI can nudge managers toward more innovative thinking by introducing unconventional options and counteracting biases.    
  6. Personalized Decision Environments: AI can create personalized decision environments tailored to individual roles, past choices, and contexts, improving the alignment of decisions with professional preferences and priorities.    
  7. Predictive Choice Modeling: AI systems can provide forward-looking insights by predicting the outcomes and trade-offs of various strategic decisions, enabling proactive assessments of potential impacts.    
  8. Complexity Management: AI can simplify complex data into actionable insights, enhancing clarity and visibility around crucial decisions.    
  9. Ethical Decision-Making: AI can embed ethical considerations into choice architectures, guiding decisions toward alignment with organizational values and compliance.    
  10. Rethinking Productivity: AI enables a shift from measuring outputs to measuring outcomes, allowing for a more comprehensive evaluation of productivity across human, financial, and intangible assets.    



Conclusion:


By embracing intelligent choice architectures and harnessing the power of AI, leaders can unlock new levels of efficiency, innovation, and success in the g-f New World. This requires a commitment to continuous learning, ethical AI implementation, and a human-centered approach to technology.    



g-f(2)3146: The Juice of Golden Knowledge


Concentrated wisdom for immediate application


"In today's rapidly changing business landscape, leaders must embrace AI to not only make better decisions but also to create better choices. By building intelligent systems that surface hidden options and highlight innovative pathways, organizations can elevate their decision-making process. These AI-driven systems should be designed with a human-centric approach, ensuring they are 'by people, for the people'.   The goal is not to replace human decision-making but to augment it with AI's analytical power, promoting more efficient, innovative, and ethical outcomes." — Fernando Machuca and Gemini, October 31, 2024 



GK Juices or Golden Knowledge Elixirs


REFERENCES

The g-f GK Context


Michael Schrage and David Kiron, Intelligent Choices Reshape Decision-Making and Productivity, MIT Sloan Management Review, October 29, 2024.



ABOUT THE AUTHORS


Michael Schrage is a research fellow with the MIT Sloan School of Management’s Initiative on the Digital Economy. His research, writing, and advisory work focuses on the behavioral economics of digital media, models, and metrics as strategic resources for managing innovation opportunity and risk.


David Kiron is the editorial director, research, of MIT Sloan Management Review and program lead for its Big Ideas research initiatives.



Contributors


Sankaranarayanan Viswanathan, vice president, Corporate Technology Office, Tata Consultancy Services


Nidhi Srivastava, vice president and head of AI cloud offerings, Tata Consultancy Services



Classical Summary of the Article:


This article from MIT Sloan Management Review explores how artificial intelligence (AI) can be used to create “intelligent choice architectures” that present better options to decision-makers, ultimately leading to better outcomes.    


The authors argue that traditional dashboards and scorecards are not designed to generate the insights or foresight needed to create superior choices. AI-enhanced measurement systems, on the other hand, can surface hidden options, highlight overlooked interdependencies, and suggest novel pathways to success.    


The article provides several examples of how AI can be used to improve decision-making. For instance, AI could be used to nudge managers toward more innovative thinking by injecting and framing “unconventional” options.  Additionally, AI could be used to counteract an executive committee's risk-aversion bias by framing potential acquisitions as “growth opportunities” rather than “financial risks.”    


The authors also discuss how AI can be used to rethink productivity. They argue that AI can help leaders to more productively align returns from both their tangible and intangible assets.    


Finally, the article explores the implications of AI for organizational design. The authors argue that AI will inevitably raise important questions about decision rights. For example, when does following an automated recommendation raise accountability issues?  Under what conditions can a human decision-maker disregard machine-generated options or recommendations?    


The authors conclude by arguing that the essential executive question is no longer whether predictive and generative AI will take over decision-making but how human expertise and AI will complement each other to cocreate better choices, decisions, and outcomes.    



Michael Schrage


Michael Schrage is a renowned author, innovator, and thought leader specializing in the intersection of technology, business, and human behavior. He currently serves as a research fellow at the MIT Sloan School of Management's Initiative on the Digital Economy, where his work focuses on the "behavioral economics" of models, prototypes, and metrics as strategic resources for managing innovation.   


Schrage's influence extends beyond academia. He has served as an advisor on innovation and investment to major firms, including Google, Intel, and IBM, and has contributed to prestigious publications like the Harvard Business Review, Sloan Management Review, and the Financial Times. He is a sought-after speaker and has presented workshops on innovation and design worldwide.


A prolific writer, Schrage has authored several influential books, including "The Innovator's Hypothesis," "Who Do You Want Your Customers to Become?", and "Serious Play." His work explores how collaborative tools and technologies can drive innovation and improve the customer experience.


Schrage's unique perspective and expertise have established him as a leading voice in the field of innovation. His insights continue to shape how businesses approach innovation, technology, and customer engagement in the digital age.



David Kiron 


David Kiron is the editorial director of research at MIT Sloan Management Review, where he leads the publication's forward-looking research initiatives. He has a strong interest in how technology is changing the practice of management, with a particular focus on data analytics, digital transformation, and the future of work.


Before joining MIT Sloan Management Review, Kiron was a senior researcher at Harvard Business School and a research associate at the Global Development and Environment Institute at Tufts University. He holds a PhD in philosophy from the University of Rochester and a BA from Oberlin College.   


Kiron is a prolific writer and editor, having co-authored the book Workforce Ecosystems, as well as numerous articles and reports on management topics. He is a frequent speaker at conferences and events, and his work has been featured in publications such as The Wall Street Journal, The Washington Post, and Harvard Business Review.


Kiron's expertise and insights make him a valuable resource for business leaders seeking to understand and navigate the challenges and opportunities of the digital age.



The categorization and citation of the genioux Fact post


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



Additional Context:


This genioux Fact post is part of:
  • Daily g-f Fishing GK Series
  • Game On! Mastering THE TRANSFORMATION GAME in the Arena of Sports Series



g-f Lighthouse Series Connection



The Power Evolution Matrix:



Context and Reference of this genioux Fact Post



“genioux facts”: The online program on "MASTERING THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)3146, Fernando Machuca and Gemini, October 31, 2024, Genioux.com Corporation.


The genioux facts program has established a robust foundation of over 3145 Big Picture of the Digital Age posts [g-f(2)1 - g-f(2)3145].



Monthly Compilations Context October 2024

  • Strategic Leadership evolution
  • Digital transformation mastery


genioux GK Nugget of the Day


"genioux facts" presents daily the list of the most recent "genioux Fact posts" for your self-service. You take the blocks of Golden Knowledge (g-f GK) that suit you to build custom blocks that allow you to achieve your greatness. — Fernando Machuca and Bard (Gemini)



Power Matrix Development


September 2024

  • g-f(2)3003 Strategic Leadership in the Digital Age: September 2024’s Key Facts
  • g-f(2)3002 Orchestrating the Future: A Symphony of Innovation, Leadership, and Growth
  • g-f(2)3001 Transformative Leadership in the g-f New World: Winning Strategies from September 2024
  • g-f(2)3000 The Wisdom Tapestry: Weaving 159 Threads of Digital Age Mastery
  • g-f(2)2999 Charting the Future: September 2024’s Key Lessons for the Digital Age


August 2024

  • g-f(2)2851 From Innovation to Implementation: Mastering the Digital Transformation Game
  • g-f(2)2850 g-f GREAT Challenge: Distilling Golden Knowledge from August 2024's "Big Picture of the Digital Age" Posts
  • g-f(2)2849 The Digital Age Decoded: 145 Insights Shaping Our Future
  • g-f(2)2848 145 Facets of the Digital Age: A Month of Transformative Insights
  • g-f(2)2847 Driving Transformation: Essential Facts for Mastering the Digital Era


July 2024


June 2024


May 2024

g-f(2)2393 Unlock Your Greatness: Today's Daily Dose of g-f Golden Knowledge (May 2024)


April 2024

g-f(2)2281 Unlock Your Greatness: Today's Daily Dose of g-f Golden Knowledge (April 2024)


March 2024

g-f(2)2166 Unlock Your Greatness: Today's Daily Dose of g-f Golden Knowledge (March 2024)


February 2024

g-f(2)1938 Unlock Your Greatness: Today's Daily Dose of g-f Golden Knowledge (February 2024)


January 2024

g-f(2)1937 Unlock Your Greatness: Today's Daily Dose of g-f Golden Knowledge (January 2024)


Recent 2023

g-f(2)1936 Unlock Your Greatness: Today's Daily Dose of g-f Golden Knowledge (2023)



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