Understanding AI in Business Contexts AI Session 5
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Questions and Answers

What is a major risk associated with overconfidence bias in problem-solving?

  • Identifying a variety of potential solutions
  • Developing a thorough understanding of the problem
  • Collecting excessive data from multiple sources
  • Underestimating the complexity of the problem (correct)

Narrow framing pitfall primarily results from which cognitive biases?

  • Representation and elimination bias
  • Availability and confirmation bias
  • Availability and representation bias (correct)
  • Framing and consistency bias

Why is it important to avoid confirmation bias in decision-making?

  • It allows for a more balanced view of the evidence (correct)
  • It ensures that only favorable evidence is accepted
  • It eliminates the need for data collection
  • It makes the problem-solving process faster

What is a common consequence of relying on analogy in problem-solving?

<p>Misidentifying the core issues (A)</p> Signup and view all the answers

What might be a symptom of poor product quality?

<p>Decline in revenues (C)</p> Signup and view all the answers

What can be a negative effect of poorly framed problems?

<p>Narrowed view leading to superficial solutions (B)</p> Signup and view all the answers

How does randomness play a role in problem-solving?

<p>It influences the retrieval of past information (D)</p> Signup and view all the answers

What method can be employed to mitigate biases in data collection?

<p>Incorporating diverse perspectives and comprehensive data (C)</p> Signup and view all the answers

Which aspect of AI can significantly enhance problem-solving capabilities?

<p>AI's use in generating creative solutions through data insights (D)</p> Signup and view all the answers

What is the significance of question formulation in the problem-solving process?

<p>It shapes the analysis and understanding of the problem (C)</p> Signup and view all the answers

What is one method suggested for mitigating bias in decision-making?

<p>Providing education about unconscious biases (C)</p> Signup and view all the answers

Which of the following approaches is described to modify the environment to mitigate biases?

<p>Creating situations where bias is irrelevant (C)</p> Signup and view all the answers

What role does AI play in enhancing problem formulation?

<p>AI can help in asking better questions (A)</p> Signup and view all the answers

Which is NOT a recommended approach for creating catalytic questions?

<p>Providing predetermined answers in prompts (A)</p> Signup and view all the answers

Why is question formulation considered important in problem-solving?

<p>It helps spark change through catalytic questions (D)</p> Signup and view all the answers

What is a challenge in using AI as a creative engine?

<p>AI requires human guidance for framing questions (B)</p> Signup and view all the answers

Which of the following is NOT a characteristic of AI-enhanced problem-solving?

<p>Question simplicity (B)</p> Signup and view all the answers

What is a crucial aspect to consider when leveraging AI for generating new ideas?

<p>Combining existing concepts in unique ways (A)</p> Signup and view all the answers

In the context of decision-making, what is meant by 'modifying the decision maker'?

<p>Educating individuals about their biases (B)</p> Signup and view all the answers

In data collection, which approach should be prioritized to ensure reliable outcomes?

<p>Adopting a thorough sampling approach (B)</p> Signup and view all the answers

Which of the following describes a benefit of relying on evidence in problem formulation?

<p>It provides a systematic approach to inform decisions (B)</p> Signup and view all the answers

How can biases in question formulation affect the performance of LLMs?

<p>They might influence the AI's understanding of context (B)</p> Signup and view all the answers

What is essential for creating environments that help mitigate bias?

<p>Incorporating diverse viewpoints actively (A)</p> Signup and view all the answers

What is a key benefit of using AI for data cleansing?

<p>Automation of error detection and correction (C)</p> Signup and view all the answers

What should one be cautious of when using LLMs to solve problems?

<p>Their potential to confabulate information (A)</p> Signup and view all the answers

Which technique can enhance the analysis of data using AI?

<p>Employing diverse datasets for insights (D)</p> Signup and view all the answers

What characterizes effective prompting when utilizing AI?

<p>Including clear and concise inquiries (A)</p> Signup and view all the answers

Why is it important to understand the limitations of LLMs?

<p>To improve their integration into decision-making processes (D)</p> Signup and view all the answers

Which aspect is critical when interpreting evidence gathered from data?

<p>Considering relevant variables and context (D)</p> Signup and view all the answers

What common pitfall should users avoid when formulating questions for AI?

<p>Using biased or leading questions (A)</p> Signup and view all the answers

Flashcards

AI as Creative Engine

Large Language Models (LLMs) excel at combining existing concepts to generate new ideas.

Data Collection

A process of gathering information to analyze and understand a topic or problem.

Analytical Approach

A systematic method for understanding data and drawing conclusions.

Relevant Variables

Factors significantly influencing the topic or problem being studied.

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Sampling Approach

A strategy for selecting a subset of data from a larger population.

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Data Analysis

Process of extracting insights and knowledge from data.

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Data Cleansing

The process of identifying and fixing errors or inconsistencies in data.

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Code Interpreter in LLMs

An LLM feature that performs advanced data analysis tasks.

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LLM Limitations

LLMs can generate incorrect information, offer non-specific advice, and produce biased results.

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LLM Problem Solving

Using LLM tools strategically to solve problems, emphasizing the understanding of their successes and failures.

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Climate Change

An engineering problem that requires adaptable solutions.

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Unconscious Bias

Hidden, automatic preferences that influence judgment.

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Decision Maker Modification

Methods to reduce biases in decision-making individuals.

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Decision Environment Modification

Strategies to make biases irrelevant or even beneficial.

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AI-enhanced problem solving

Using AI to support better question-asking and problem-solving.

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Catalytic Questions

Questions that inspire change and new solutions.

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Question Velocity

Speed and rate at which questions are asked.

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Question Variety

Diversity and different types of questions.

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Question Novelty

Uncommon and unique questions.

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Bias Mitigating Approaches

Methods to reduce or minimize the effects of bias.

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Problem Framing Biases

Tendency to narrow focus on a complex issue by comparing it to similar, easier-to-solve problems. This shortcuts in-depth understanding.

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Overconfidence Bias

Tendency to be too sure of our estimations or judgments, often leading to insufficient data collection.

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Confirmation Bias

Tendency to favour information supporting existing beliefs while ignoring contradictory evidence.

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Wrong Problem

Solving the wrong problem, misinterpreting symptoms as the root cause.

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Retrieval Bias

Difficulty recalling relevant information when needed for solving a new problem.

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Human Reason Limits

Limitations in our cognitive abilities affecting problem-solving accuracy. Our brains have systemic flaws.

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Narrow Framing

Restricting a problem to a narrow perspective rather than considering broader factors and nuances.

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Inappropriate Analogy

Using an analogy to a similar problem but ignoring key differences, therefore making the flawed comparison and leading to inaccurate solutions.

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Inaccurate Estimation

Unreliable quantification and judgments. Making errors in measurement or evaluation.

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Human Error in Problem Solving

Systematic mistakes and biases that affect our ability to identify and solve problems accurately or comprehensively.

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Study Notes

Understanding AI in Business Contexts - PGE M1

  • This presentation is about using AI for problem-solving in business contexts.
  • The presenter, Ambra Mazzelli, is an Associate Professor at SKEMA Business School.

Who Am I? (Presenter's Background)

  • Holds degrees in Industrial Engineering (Bachelor and Master's) from Università degli Studi di Bergamo.
  • Completed a PhD in Management at Lancaster University.
  • Visited Harvard University.
  • Held postdoctoral fellowships and research affiliations with universities in various countries (UK, Canada, USA, and France).
  • Worked as an assistant professor of management and organizations at the Asia School of Business (MIT Sloan).
  • Currently an associate professor at SKEMA Business School, Grand Paris Campus.
  • Consults and advises managers/executives in multinational companies.
  • Has a background in family business and hospitality industry.

Agenda

  • Preview of the topic.

  • How humans think.

  • Human bias in problem-solving.

  • Reducing human biases through AI.

  • Perils of using AI for problem-solving

  • Practical implementation of AI in problem-solving.

  • Concluding remarks.

AI-Enhanced Problem Solving

  • Problem-solving often involves trade-offs.
  • This session explores the benefits and limitations of using AI for problem-solving.
  • The presentation will include an orientation guide for using ChatGPT for problem solving.
  • Note: Some instructions are based on the presenter's experience with ChatGPT and not necessarily based on scientific evidence.

How Humans Think (Section II)

  • Slides include an image of Rodin's The Thinker, with a quote from Hamlet about the nature of human reason.

The Origins of Our Mistakes

  • Possible explanations for human errors: flawed environment or badly-designed minds.

The Great Minds Who Studied the Limits of Human Reason

  • Mentions Dan Kahneman, Amos Tversky, and Herbert Simon, highlighting their work on limitations of human reason.

Human Bias in Problem Solving (Section III)

  • About eighty percent of the time, people end up solving the wrong problems.
  • This part of the presentation discusses various cognitive biases, such as availability and representation biases leading to a narrow framing during problem-solving.
  • Overconfidence bias and confirmation bias in human decision making are mentioned.

The (Less) Phenomenal Power of Human Mind

  • Humans tend to be overconfident in their abilities.
  • People tend to favor evidence that confirms their initial view, while ignoring evidence that contradicts it (confirmation bias).

COVID-19

  • The presentation uses the response of various governments in the first few months of the COVID-19 pandemic to demonstrate the tendency of governments to get things wrong.

Climate Change

  • The presentation connects climate change to an engineering problem that needs to be solved.

How to Avoid Pitfalls of AI

  • Methods for mitigating the negative consequences of employing AI in problems

How to Mitigate Bias

  • Make decision-makers more aware of unconscious biases through education and tools and rules.
  • Modifying the environment to create situations where bias is either irrelevant or even helpful for the decision-making process.

AI Can Help You Ask Better Questions

  • AI can increase question velocity, variety, and novelty, focusing on "catalytic" questions to spark change.

Ask the AI to Be Someone Else

  • Use a new chat to avoid bias.
  • Describe the situation without mentioning a proposed solution.
  • Consider prompts from different perspectives or the personalities of different characters.

AI as a Creative Engine

  • AI can combine concepts in unexpected ways to generate new ideas.
  • AI acts as a connector between seemingly disparate concepts.

Ask the AI to Assist with Data Collection, and Data Cleansing

  • How to use AI to assist in data collection.
  • Techniques to use AI to clean data for analysis.
  • Data in the example involves superhero powers/attributes.

Perils of Using AI for Problem Solving

  • LLMs (Large Language Models) are still mysterious.
  • LLMs can potentially be misleading, generate inaccurate information, give nonspecific/noncontextual advice, and produce biased results if the input or the framing of the question is biased.

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Related Documents

AI for Problem Solving - Fall24 Preview PDF

Description

Explore how artificial intelligence can enhance problem-solving within business environments in this presentation by Ambra Mazzelli. With her extensive background in engineering and management, she discusses human cognitive processes and biases that impact decision-making. Gain insights into the role of AI in modern business strategies.

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