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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CATONSVILLE, MD, December 10, 2014 –Ads can communicate their main message in as little as a tenth of a second, helped by color, according to a new study published in Marketing Science, a publication of the Institute for Operations Research and the Management Sciences (INFORMS).
The Institute for Operations Research and the Management Sciences (INFORMS®), the leading professional association for analytics professionals, today announced that the winner of the Daniel H. Wagner Prize judged by CPMS, the association’s practice section, is Ford Motor for an innovative approach to an important issue facing companies with a global presence: early identification of supply chain risks and a new process to respond when things go wrong.
CATONSVILLE, MD, November 20, 2014 – In many firms sales people spend as much time negotiating internally for lower prices as they do interacting with customers. A new study appearing in the November issue of Marketing Science, a publication of the Institute for Operations Research and the Management Sciences (INFORMS) finds that firms should allow their sales people to “waste” energy on internal negotiations. In fact, it says, firms should make the process wasteful on purpose.
According to a new INFORMS survey of 230 business, government and academic representatives released today, the concept of "analytics maturity" is important or very important to their businesses (65 percent). Yet, 82 percent of those same respondents admitted they do not have a plan, model, or any other mechanism in place for measuring the efficacy or maturity of their analytics best practices over time.
Some 47 percent of those surveyed attributed the lack of analytics maturity modeling to the fact they don't believe it will help their businesses thrive, while 21 percent said they cannot afford an analytics maturity model solution.
"The ability to fully assess the maturity level of an organization's analytics best practices is paramount to their efficacy," said Aaron Burciaga, senior manager, operations analytics at Accenture. "With more access to information than ever before, organizations must have a strategy in place for how they leverage data and analytics, and assess the maturity of their programs to empower decision making and drive organizational strategy."
The Institute for Operations Research and the Management Sciences (INFORMS) today announced the award of its John Von Neumann Theory prize, a sometime harbinger of the Nobel Prize, to IBM’s Nimrod Megiddo for innovations in game theory, linear programming, and combinatorial optimization.
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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