Panel Discussion on "The organizational economics of AI"
Firms are increasingly using AI in a variety of areas including recruiting, evaluation, sales & marketing, and others. What are the tradeoffs involved when using AI for these business needs? How is the use of AI changing how firms do business? Are new business models required?
On April 16th Daron Acemoglu, Jacques Bughin, and Raffaela Sadun met online to discuss these questions and to share more about their research on “The organizational economics of AI”.
Daron Acemoglu is an Institute Professor at MIT. His work covers a wide range of areas, including political economy, economic growth, technology change and economics of AI. Jacques Bughin is the retired director of the McKinsey Global Institute. He currently serves as Professor at the Solvay School of Economics and Management, and advises multiple companies on topics related to AI, ICT and sustainability. Raffaela Sadun is Professor of BUsiness Administration in the Strategy Unit at Harvard Business School. Sadun’s research focuses on managerial and organizational drivers of productivity and growth in both the private and public sector. During the discussion she emphasizes that there are too many leaders and executives that think about AI as a technology and not as a driving force for organizational change. Unfortunately, they also have no idea how the technology is used by their employees.
The event was co-sponsored by NYU’s Center for the Future of Management and Ludwig-Maximilian-University of Munich’s Institute for Strategy, Technology and Organization. The video of the panel discussion is now available here.