An anonymous donor has made a $21 million gift to support the groundbreaking work of the Center for Applied Artificial Intelligence (CAAI) at the University of Chicago Booth School of Business. This investment will provide CAAI with current-use resources as well as an endowment to accomplish even more in this burgeoning field.
Launched in 2019, CAAI is Booth’s newest research center and focuses on how machine and human intelligence can be combined to create new ideas. It strives to create real-world impact in a wide range of areas of business and policy through cutting-edge research using machine learning, which analyzes complex data at higher volumes and in different ways than is possible for humans.
“Chicago Booth is incredibly proud of the CAAI’s pathbreaking, interdisciplinary research applying human insights to AI to bring about a better world,” said Madhav Rajan, dean and the George Pratt Shultz Professor of Accounting at Booth. “This generous gift will allow the school, through the work of the center, to have continued and lasting impact on the fields of finance, health care, public policy, education, and behavioral science.”
CAAI is led by faculty director Sendhil Mullainathan, the Roman Family University Professor of Computation and Behavioral Science, who joined Chicago Booth in 2018 after teaching at Harvard University and the Massachusetts Institute of Technology. Mullainathan is the recipient of a MacArthur Foundation fellowship, commonly known as a “genius grant,” and has been designated a Young Global Leader by the World Economic Forum. The center’s Steering Committee brings together researchers from multiple areas at Chicago Booth, including marketing, econometrics and statistics, behavioral science, and economics.
“The field of applied AI is rich with opportunities to generate new knowledge and solve old problems, and, with this gift, we can do more to push the boundaries of the field,” Mullainathan said. “Humans and machines thinking together is the future of science, and this gift cements the center as a hub for inquiry and research into this important area.”