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Reveal Smarter "Decision Options" with AI: Insight from CEO Gill Eapen
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Our host, Alec Crawford, interviews Gill Eapen, CEO of Decision Options and Board Member at the American Society for Artificial Intelligence.
- Gil Eapen cherished his time at Hewlett-Packard in the 90s, highlighting a unique, egalitarian culture and his inspiring interactions, including a chance meeting with the CEO.
- He contrasts this with later roles, noting the transient nature of management consulting and the challenge of fostering a collaborative, innovative environment in a fast-growing pharmaceutical company, where he innovated with early machine learning applications.
- Eapen encountered resistance to new technology among traditional roles, emphasizing the need to convince stakeholders of its benefits.
- Post-corporate life, Eapen founded Decision Options, shifting from consulting to creating AI systems for diverse industries. His book "Decision Options" focuses on innovative valuation methods for projects, applying financial principles to non-market-based company decisions.
- Eapen's firm developed an autonomous investment advisory system for managing portfolios, reducing human error and maintaining optimal risk-return balances per client preferences.
- Shifting gears, Gill spoke about how the American Society for AI aims to gather a select group of academics, entrepreneurs, and AI experts to discuss AI's future impacts and societal implications without a policy agenda.
- Eapen emphasizes that while forms of AI like machine learning and deep learning aren't new, advancements in computing power and data processing are driving AI's current effectiveness in decision-making.
- In addition, the definition of AI keeps changing to move with technology. For example, in the 1950’s, a calculator might have been AI, now advanced chatbots are AI.
- Gill opines that AI's use of historical data could limit innovation, but it won't overshadow human creativity. One risk is that AI’s reliance on historical data creates an “AI loop” that limits its creativity.
- AI will automate repetitive tasks, changing job landscapes and necessitating social policy reforms.
- Embracing AI is crucial for corporate success, and future professionals should focus on entrepreneurship over traditional career paths.
Here are some of the links from the show:
https://www.decisionoptions.com
https://www.scientificsense.com
Enjoy!
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