BALTIMORE, MD, April 1, 2025 – Can we really trust AI to make better decisions than humans? A new study says … not always. Researchers have discovered that OpenAI’s ChatGPT, one of the most advanced and popular AI models, makes the same kinds of decision-making mistakes as humans in some situations – showing biases like overconfidence of hot-hand (gambler’s) fallacy – yet acting inhuman in others (e.g., not suffering from base-rate neglect or sunk cost fallacies).
You are swimming in an ocean of data and don’t even realize it. All around you are invisible amounts of data that would be staggering to try to comprehend. Thousands of smartphones and smart devices are talking to, sending and downloading vast amounts of data, video, audio, words, numbers, images, you name it. Everything from the latest movie on Netflix to someone’s radiology results from a cancer screening.
Mom-and-pop businesses are trying to adapt to the soaring cost of eggs. The owners of four egg-centric restaurants across the country show how they are coping with this threat to their livelihoods.
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Operations research analyst is another high-growth job in the business sector. These data miners can be involved in everything from logistics to manufacturing, looking to enhance a company's profitability and cost efficiency. In 2013, the typical salary was pushing $75,000 annually, but analysts in New York, San Jose and San Diego often earn more than $130,000.
CATONSVILLE, MD, January 5, 2015 – Retailers selling home appliances and electronics goods typically make 15-20 percent profit from these products but realize more than 200 percent profit from selling extended warranties for them. A new study that appears in the January issue of Marketing Science, a publication of the Institute for Operations Research and the Management Sciences (INFORMS), finds that even though selling warranties through independent firms will lower extended warranty prices, the consumers may actually be worse off.
CATONSVILLE, MD, December 18, 2014 – Five trends will dominate the analytics world in 2015, according to the president of the Analytics Section of The Institute for Operations Research and the Management Sciences (INFORMS®), the largest professional society in the world for professionals in the fields of analytics.
The Institute for Operations Research and the Management Sciences (INFORMS®) proudly announces the six finalist organizations that will compete for the 2015 INFORMS Franz Edelman Prize. The Prize is the world’s most prestigious recognition for excellence in applying advanced analytics to benefit business and humanitarian outcomes.
The Institute for Operations Research and the Management Sciences (INFORMS®), the leading professional association for analytics professionals, today announced that the winner of the 2014 INFORMS Decision Analysis Practice Award was presented to Max Henrion, CEO of Lumina Decision Systems, makers of Analytica® software.
OR/MS Today is the INFORMS member magazine that shares the latest research and best practices in operations research, analytics and the management sciences.
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Analytics magazine showcases articles and research reports based on big data, AI, machine learning, data analytics and other new-age technologies.
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