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Our experiment ran from February to July 2024, involving 344 participants (both undergraduate and graduate students from Central and South Asian universities and senior executives at a South Asian bank) and GPT-4o, a contemporary large language model (LLM) created by OpenAI. Participants navigated a gamified simulation designed to replicate the kinds of decision-making challenges CEOs face, with various metrics tracking the quality of their choices. The simulation was a coarse-grained digital twin of the U.S. automotive industry, incorporating mathematical models based on real data of car sales, market shifts, historical pricing strategies and elasticity, as well as broader influences like economic trends and the effects of Covid-19. (Disclosure: The game was developed by our Cambridge, England-based startup, Strategize.inc).
Players made a slew of corporate strategy decisions through a game interface, on a per round basis. Each round represented a fiscal year, and this structure enabled participants to tackle strategic challenges over several simulated, interlinked years. The game thus had over 500,000 possible decision combinations per round and no fixed winning formula. The goal of the game was simple — survive as long as possible without being fired by a virtual board while maximizing market cap. The former is determined by a group of unique key performance indicators (KPIs) set by the board and the latter being driven by a combination of sustainable growth rates and free cash flow. This objective served as a realistic proxy for measuring real-world CEO performance.
After the human participants completed their turn, we handed control over to GPT-4o. We then benchmarked GPT-4o’s performance against four human participants — the top two students and two executives. The results were both surprising and provocative, challenging many of our assumptions about leadership, strategy, and the potential role of AI in decision-making at the highest levels of business.
AI Can (Mostly) Outperform Human CEOs
https://hbr.org/2024/09/ai-can-mostly-outperform-human-ceos
BY Кадровый Болт Генона
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