Special track 3

The Role of Generative Artificial Intelligence in Transforming Business Practices 

SPECIAL SESSION TITLE: The Role of Generative Artificial Intelligence in Transforming Business Practices



  GIACOMO MARZI, IMT School for Advanced Studies Lucca, Italy, giacomo.marzi@imtlucca.it


SHORT DESCRIPTION OF PROPOSED SPECIAL SESSION TOPIC: Generative artificial intelligence (GAI), exemplified by platforms like OpenAI's ChatGPT, has moved from being a mere technological concept to an integral part of contemporary business operations. Industry giants such as Google, Microsoft, Meta, and OpenAI are not just experimenting with GAI, but are leading the charge in its application. The transformative potential of GAI can be seen across various industries. From banking, where it aids in functions like fraud detection, to the education sector where it's capable of crafting personalized learning programs. Similarly, in the fashion industry, GAI assists in designing models of diverse clothing types, while in healthcare, it enhances processes like medical imaging and drug discovery. Leading companies are already exploring ways to leverage ChatGPT for superior results, enhancing both user experiences and operational efficiencies. For instance, Microsoft has begun integrating ChatGPT into its Bing search engine, leading to improved user interactions. However, the rapid growth and integration of GAI aren't without challenges. The last few years have seen increasing concerns about the ethical dimensions of artificial intelligence, and GAI brings its own set of ethical considerations. The ability of GAI tools, especially in the realm of deep learning, to create and distribute content that might be false or misleading, such as deep fakes, brings forth significant ethical dilemmas. Such content, nearly indistinguishable from real-world media, raises genuine concerns about misinformation, defamation, and potential harassment. Moreover, while GAI models like ChatGPT can produce vast amounts of information, there's a real challenge in ensuring the accuracy and truthfulness of this information. Their static nature, combined with their potential to generate false or biased information, makes the matter of information authenticity crucial. Large-scale language models might be persuasive, but the risk of them fabricating misleading narratives, like conspiracy theories, cannot be ignored. Therefore, as businesses and industries increasingly rely on GAI tools, it becomes paramount to address these challenges and ensure the information produced aligns with factual accuracy and ethical standards. In conclusion, the advent of GAI is transforming the business landscape. Its benefits are many, from enhancing customer experiences to streamlining processes. But with these advantages come challenges that businesses, researchers, and policymakers must collaboratively address to ensure a future where GAI aids humanity while maintaining ethical integrity.



      the influence of advancements in AI and GAI (like Chat GPT) on modern business practices

      the ways on which GAI transforms decision-making, strategy formulation, and operational processes in businesses

      the ethical considerations surrounding the application of GAI in business, especially concerning privacy, intellectual property, and bias

      the ways on which businesses have adopted AI on global, regional, and local scales, and factors influencing these adoption levels

      the potential that AI holds for fields like management studies, and ways on which they can leverage tools like Chat GPT for operational efficiency

      the ways on which the increasing reliance on GAI tools will influence job markets, especially in terms of human job displacement

      the ways on which leading companies like Microsoft, Google, Meta, and Amazon are integrating GAI into their operations, and the results or impacts that they are observing

      the potential that GAI holds in revolutionizing human-machine interaction, and ways on which this will redefine consumer-business relationships in the future