On November 14, 2024, the Center for Applied Artificial Intelligence (CAAI) and the Chicago Booth Office of Advancement hosted an exciting event at Google’s Mountain View campus, bringing together Booth and University of Chicago alumni for an evening of networking and deep discussion on artificial intelligence. The event, titled Generative Thinking: How AI is Changing Business, featured a keynote presentation by Professor Sanjog Misra, director of CAAI and the Charles H. Kellstadt Distinguished Service Professor of Marketing and Applied AI.
The session, moderated by Satyaeet Salgar (‘07), Google’s Director of Product Management and UX, explored generative AI frameworks, capabilities, and real-world applications while emphasizing CAAI’s mission to drive innovation in the AI space. Attendees were treated to an in-depth analysis of how generative AI is reshaping industries and a glimpse into the latest AI-driven research emerging from Booth. The evening concluded with an engaging Q&A session and a networking reception, providing a platform for alumni and AI enthusiasts to connect and share ideas.
A Community Focused on AI Innovation
Satayajeet opened the evening by emphasizing the importance of fostering a strong AI community, highlighting the Center’s mission to support research, engage students through workshops and speaker events, and connect with alumni worldwide. The event was one of many aimed at driving discussions on AI’s implications and applications in various domains.
Revolutionizing AI Research and Applications
Professor Misra's presentation offered a broad yet deep perspective on how AI is being integrated across different disciplines. He outlined Booth’s approach to AI, describing how faculty are not just using AI to enhance existing methods but are fundamentally rethinking their fields. Some key takeaways included:
- AI and Economics: Researchers at Booth are leveraging AI to redefine competition, moving beyond traditional economic metrics to explore new models of market behavior using patent overlap analysis and design similarities.
- AI in Finance: Faculty are exploring AI’s ability to structure investments and portfolios in ways that mimic language processing, unlocking novel financial insights.
- AI in Accounting: A rapidly growing field, AI is being used to extract deeper insights from financial reports and filings, revolutionizing how financial surprises and corporate disclosures are analyzed.
- Technical Innovations: Booth faculty are contributing to the development of more efficient AI architectures, optimizing models like diffusion-based image generators to improve computational efficiency.
- Marketing Disruption: AI-driven language models are reshaping marketing by automating message generation with built-in performance predictions, demonstrating the power of AI in creative industries.
The Ethical and Practical Implications of Generative AI
A major theme of the discussion was the role of generative AI in research and decision-making. Professor Misra warned against treating AI-generated data as objective, cautioning that outputs are inherently shaped by prompts and biases. He stressed that while AI can provide valuable insights, human judgment remains crucial in interpreting and applying AI-generated information.
The Changing Role of AI in Business and Education
The conversation extended to AI’s impact on the workforce, education, and corporate strategies. Some key discussions included:
- Education: The integration of AI tools in academic settings is transforming how students learn. Booth has chosen to embrace AI rather than ban it, encouraging students to critically engage with AI-generated insights.
- Workforce Disruption: AI is already affecting various industries, from automated trucking to AI-generated marketing content. While some jobs will disappear, new opportunities will emerge as technology advances.
- Business Applications: AI is enabling companies to harness proprietary data more effectively, offering new possibilities in semantic search, customer engagement, and automation.
Looking Ahead: AI and Society
The event concluded with thought-provoking discussions on the broader implications of AI on society. Attendees considered how AI will reshape employment, economic models, and even creativity itself. The consensus was clear: AI is evolving at an unprecedented pace, and its impact will be felt across every sector.
A Call to Stay Engaged
As AI continues to redefine industries and research, events like these provide a vital platform for knowledge-sharing and community-building. Whether through academic inquiry, business applications, or ethical considerations, one thing remains certain—AI’s journey is just beginning, and staying informed is key to leveraging its full potential.
