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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It was March 25, 2000. A sea of red filled State Street, and Badger fans around the country were celebrating. The University of Wisconsin-Madison men’s basketball had just defeated Purdue in the NCAA tournament, securing a spot in the Final Four.
Diversity on key corporate committees is supposed to produce better decisions. But a study at Cambridge Judge Business School finds that diverse views rarely ‘average out’ as assumed, but instead lead to systematic biases toward certain types of errors.
Citing research from investment firm Cowen & Co, research company Grand View Research and a consumer poll, the report found that binge drinking in US states that legalised the drug has dropped 9% below the national average. Excessive drinking in states with a legal cannabis market is also 11% lower than states where cannabis remains illegal.
The United States government is tightening security by providing a higher level of identification validation. This isn’t new -- the REAL ID Act passed in 2005 -- but it’s taking effect next year. It was passed in an effort are to make it more difficult to counterfeit peoples’ identity and personal information using their identification cards (IDs) like state driver’s licenses. The problem is, how much good will it do if people who need to update their IDs to this higher security format don’t know they need to do so?
CATONSVILLE, MD, October 25, 2019 – A new research study published in the October edition of the INFORMS journal Marketing Science (Editor’s note: The source of this research is INFORMS) has revealed how taxi drivers use mobile hailing technology to select longer, more profitable trips to optimize their earnings, rather than seeking to increase the number of trips or working hours to achieve higher earnings.
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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