BALTIMORE, MD, April 1, 2025 – Can we really trust AI to make better decisions than humans? A new study says … not always. Researchers have discovered that OpenAI’s ChatGPT, one of the most advanced and popular AI models, makes the same kinds of decision-making mistakes as humans in some situations – showing biases like overconfidence of hot-hand (gambler’s) fallacy – yet acting inhuman in others (e.g., not suffering from base-rate neglect or sunk cost fallacies).
You are swimming in an ocean of data and don’t even realize it. All around you are invisible amounts of data that would be staggering to try to comprehend. Thousands of smartphones and smart devices are talking to, sending and downloading vast amounts of data, video, audio, words, numbers, images, you name it. Everything from the latest movie on Netflix to someone’s radiology results from a cancer screening.
Mom-and-pop businesses are trying to adapt to the soaring cost of eggs. The owners of four egg-centric restaurants across the country show how they are coping with this threat to their livelihoods.
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BALTIMORE, MD, April 17, 2023 – INFORMS, the largest association for the decision and data sciences, announced it has awarded Walmart its 2023 Franz Edelman Award for Achievement in Advanced Analytics, Operations Research and Management Science for its use of operations research (O.R.) to enhance retail truck routing and load planning.
BALTIMORE, MD, April 17, 2022 – INFORMS, the largest association for the decision and data sciences, has awarded Purdue University, Mitchell E. Daniels, Jr. School of Business, Business Analytics and Information Management (BAIM) the 2023 UPS George D. Smith Prize. The award recognizes excellence in preparing students to become practitioners of operations research and analytics.
As states look to generate more revenue in an inflationary economy, along with the risk of a recession, progressive governors like J.B. Pritzker who advocate for progressive income taxes also support one of the most regressive taxes: lotteries. This sort of “taxation” increases revenue without the stigma associated with conventional taxation, which feels to some like a penalty.
AI’s ability to make predictions and offer recommendations is advancing rapidly. Will it eventually gain the ability to lead IT teams?
Minister acknowledges some red tape could be cut, action needed on illicit market
OR/MS Today is the INFORMS member magazine that shares the latest research and best practices in operations research, analytics and the management sciences.
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Analytics magazine showcases articles and research reports based on big data, AI, machine learning, data analytics and other new-age technologies.
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