AI Adoption Alchemy through the Lens of Behavioral Economics
Some say AI is more profound than fire or electricity, while others ring the bells of impending doom. As AI-led innovation accelerates at an unprecedented pace, why does adoption not catch-up pace? With massive infrastructure, compute, and processing power at hand, where does enterprise adoption get left behind? What continues to stop the industry from an all-out embrace of AI? Studies reveal a significant deficit between empirical insights on how economic actors, constrained by their bounded rationality, develop expectations about the future of AI but subsequently fail to employ these expectations in shaping their decision-making processes.
This talk touches upon challenges of AI adoption beyond the obvious; beyond the data and the infra. We will investigate the relationship between human behaviours and the economics of the market, the nudge needed to alter human buying behaviour and the rationality of decision-making.