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Artificial intelligence is the big thing right now, with industries from finance to health care to retail scrambling to adopt AI or risk being left behind. But speaking as professors of business, we think some companies might be jumping the gun. Our recent research suggests that service providers shouldn’t automatically jump on the AI bandwagon. Instead, they should make a choice informed by their strategy. In short, when it comes to AI and service firms, more isn’t necessarily better. Why service providers face a different calculation Are you a manufacturer? Then if AI reduces your costs without lowering quality and gives you the r...... Read Full article on GretAi

You might have seen viral videos of Wendy’s drive-thru customers in the United States ordering their fast food from the firm’s generative AI bot Wendy’s FreshAI. Most show a very human-like transaction punctuated with cries of amazement at how fast, accurate and polite the system is. While the system and others like it are in their infancy, and some still rely heavily on human assistance, retailers are investing huge sums in AI to replace human workers. Why the rush to automate? It might seem like it’s all about slashing the wage bill, and straight AI-for-human swaps are indeed happening in many roles. But there is another force driv...... Read Full article on GretAi