Artificial intelligence technology has been advancing, and businesses have been putting it into action. But too many companies are just gathering a bunch of data to kick out insights and not really using AI to its fullest potential. Joshua Gans, professor at Rotman School of Management, says businesses need to apply AI more systemically. Because decision-making based on AI usually has ripple effects throughout the organization. Gans cowrote the HBR article “From Prediction to Transformation" and the new book "Power and Prediction: The Disruptive Economics of Artificial Intelligence."

Joshua Gans, co-author of 'Power and Prediction' and a professor at the Rotman School of Management, dives into the economics of artificial intelligence. He highlights how AI can reshape our global economy while discussing its potential benefits and risks, such as biases and regulatory challenges. Gans also explores the transformative potential of AI in everyday life, drawing parallels between historical technological shifts and our current landscape. He emphasizes the intriguing 'AI bullwhip effect' that can disrupt supply chain dynamics.

Joshua Gans, a Professor of Strategic Management at the Rotman School of Management, discusses the transformative potential of AI alongside Martin Reeves. They delve into the need for organizations to rethink decision-making processes, cautioning against overreliance on rigid rules. Gans emphasizes the interplay between prediction, human judgment, and AI, asserting that effective decision-making requires human involvement. The conversation highlights the gradual shift in AI integration and the necessity for quality insights over data access to drive successful outcomes.