MIT Sloan Management Review (MIT SMR) has released its list of the top 10 AI must-reads for 2023, offering valuable AI insights into the world of artificial intelligence (AI) and its impact on businesses. In a year marked by unprecedented AI growth, these articles provide expert advice on generative AI, responsible AI strategy, key performance indicators (KPIs), and the ethical challenges posed by AI technologies.
ChatGPT’s remarkable growth
In 2022, OpenAI unleashed ChatGPT, an AI-powered chatbot, to the world. Within just two months, it garnered an astounding 100 million monthly users. By November 2023, OpenAI proudly announced that ChatGPT had reached 100 million weekly active users, including adoption by over 92% of Fortune 500 companies.
The rapid adoption of ChatGPT highlights the immense potential of AI in the business world, as well as the growing reliance on AI-driven solutions. MIT SMR’s top article of the year delves into the capabilities and limitations of ChatGPT when it comes to addressing business strategy questions.
Ethical dilemmas in AI
As AI technologies like ChatGPT continue to evolve at breakneck speed, ethical concerns have emerged in parallel. MIT SMR’s David Kiron and collaborators emphasize that the fast pace of AI advancements is making it increasingly challenging to employ AI responsibly, placing immense pressure on Responsible AI (RAI) programs. Their article, based on original research conducted by MIT Sloan Management Review and Boston Consulting Group, features insights from a global executive survey and AI experts’ perspectives.
AI for improved KPIs and strategic redefinition
Business leaders are eagerly seeking practical guidance on how to leverage AI to enhance Key Performance Indicators (KPIs) and redesign job roles. Research reveals that organizations can apply AI to redefine strategic measurement and KPIs, offering an opportunity to revolutionize performance evaluation.
MIT SMR’s Me, Myself, and AI podcast contributes to this must-read list with two episodes featuring AI innovators from diverse fields like travel and medicine. These episodes shed light on the valuable lessons these pioneers have to share.
Top 10 AI must-reads for 2023 – AI insights
1. Three Lessons From Chatting About Strategy With ChatGPT: In this article, Christian Stadler and Martin Reeves explore generative AI’s capacity for strategy creation and its strengths compared to human intelligence.
2. Building Robust RAI Programs as Third-Party AI Tools Proliferate: Elizabeth M. Renieris, David Kiron, and Steven Mills discuss findings from the 2023 Responsible AI Global Executive Study and Research Project, highlighting the need for robust Responsible AI programs.
3. AI Is Helping Companies Redefine, Not Just Improve, Performance: Michael Schrage, David Kiron, François Candelon, Shervin Khodabandeh, and Michael Chu examine how organizations can use AI to redefine strategic measurement and KPIs.
4. Me, Myself, and AI Podcast — Helping Doctors Make Better Decisions With Data: UC Berkeley’s Ziad Obermeyer: UC Berkeley’s Ziad Obermeyer shares insights into democratizing access to crucial healthcare data for machine learning applications.
5. Don’t Get Distracted by the Hype Around Generative AI: Lee Vinsel warns against succumbing to the hype surrounding generative AI tools like ChatGPT, emphasizing the need for informed technology choices.
6. Improve Key Performance Indicators With AI: This article by Michael Schrage, David Kiron, François Candelon, Shervin Khodabandeh, and Michael Chu demonstrates how AI can enhance existing KPIs, offering greater business benefits.
7. From ChatGPT to HackGPT: Meeting the Cybersecurity Threat of Generative AI: Karen Renaud, Merrill Warkentin, and George Westerman advocate replacing traditional cybersecurity approaches with smarter technology and training.
8. Me, Myself, and AI Podcast: Detecting the Good and the Bad With AI: Airbnb’s Naba Banerjee: Airbnb’s Naba Banerjee discusses how machine learning aids in identifying suspicious bookings to protect hosts and guests.
9. Strategic Alignment With AI and Smart KPIs: David Kiron, Michael Schrage, François Candelon, Shervin Khodabandeh, and Michael Chu emphasize the benefits of creating forward-looking smart KPIs with AI.
10. How ChatGPT Can and Can’t Help Managers Design Better Job Roles: Fangfang Zhang and Sharon K. Parker explore the effectiveness of ChatGPT in designing productive job roles.
AI’s role in the coming year
As organizations look ahead to the coming year, the question arises: How will your organization harness the power of AI? MIT SMR’s collection of expert advice offers valuable insights for business leaders looking to navigate the ever-evolving landscape of artificial intelligence.
MIT SMR’s top 10 AI must-reads for 2023 provide a comprehensive overview of the key trends and challenges in the world of AI. From the meteoric rise of ChatGPT to the ethical dilemmas surrounding AI, these articles offer essential guidance for organizations seeking to leverage AI for strategic advantage and responsible innovation.