In the AI Risk Reward podcast, our host, Alec Crawford (@alec06830), Founder and CEO of Artificial Intelligence Risk, Inc. aicrisk.com interviews guests about balancing the risk and reward of Artificial Intelligence for you, your business, and society as a whole. Podcast production and sound engineering by Troutman Street Audio. You can find them on LinkedIn and at troutmanstreetaudio.com. You can hear the difference.

This week, Alec Crawford engages with Shiva Rajgopal, Professor at Columbia Business School, to explore AI's transformative impact on the business world. Shiva discusses how AI is reshaping business education, challenging traditional teaching methods, and redefining creativity and judgment in decision-making. They examine AI's role helping the CFO, in back-office automation and research, and how business schools are adapting to prepare future leaders for a tech-driven landscape. This episode offers a compelling look at AI's opportunities and challenges in business and management.

Summary

· AI in Education: Shiva highlights that AI is a game-changer in business education, enabling access to vast information and challenging traditional teaching methods. It pushes educators to focus more on developing students' critical thinking and judgment skills.

· Automation in Business: The discussion reveals that AI is revolutionizing back-office operations by automating routine tasks, which could lead to significant shifts in employment dynamics. Businesses need to adapt to these changes by upskilling their workforce.

· AI's Limitations and Opportunities: While AI excels at pattern recognition and handling large datasets, Shiva points out that it still lacks in areas requiring deep logical reasoning and nuanced understanding, which opens opportunities for human collaboration with AI.

· AI in Decision-Making: Shiva emphasizes the importance of using AI as a tool to enhance decision-making rather than replace it. The focus should be on leveraging AI to provide valuable insights while maintaining human oversight for critical judgments.

· Future of Business Schools: AI's integration into education is prompting business schools to rethink their value proposition, focusing on social learning and networking opportunities that AI cannot replicate, ensuring they remain relevant in a rapidly evolving technological landscape.

References

Books/Movies:

The Fountainhead by Ayn Rand
The Intelligent Investor by Benjamin Graham
Delhi Belly (Bollywood movie)

Companies/Schools:

Columbia Business School: (https://www8.gsb.columbia.edu/)
Procter & Gamble (https://us.pg.com/)
Citibank (https://www.citi.com/)
Tesla (https://www.tesla.com/)
Apple (https://www.apple.com/)
AI Risk (https://www.aicrisk.com/)

259. The Los Angeles Minions (With the FamBand)