Can ChatGPT help executives make better decisions? The large language model everyone has been talking about for months also has an eloquent answer to this question: “Yes, I can support you in management decisions by providing information, facts, analysis, and perspectives that can help you make an informed decision.” ChatGPT immediately follows up with a limitation of its own competence. “However, it is important to note that my advice and recommendations are based on an algorithmic analysis of data and information, and you, as a human being, still have to make the final decision based on your experience, knowledge, and assessment of the situation.”
Fair enough. But despite this dose of modesty — or because of it — large language models like ChatGPT can become powerful decision-making tools for managers and for companies. Their promise isn’t in providing us answers, but in helping us go through a more systematic decision-making process than is often the case today, even with important management decisions.
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