Rogayeh Tabrizi

Behavioral AI (eBook, PDF)

Unleash Decision Making with Data

• Format: PDF

Produktbeschreibung

Implement AI and big data at your organization using principles from behavioral economics

In Behavioral AI: Unleash Decision Making with Data, behavioral economist Dr. Rogayeh Tabrizi delivers an intuitive roadmap to help organizations disentangle the complexity of their data to create tangible and lasting value. The book explains how to balance the multiple disciplines that power AI and behavioral economics using a combination of the right questions and insightful problem solving.

You'll learn why intellectual diversity and combining subject matter experts in psychology, behavior, economics, physics, computer science, and engineering is essential to creating advanced AI solutions. You'll also discover:

• How behavioral economics principles influence data models and governance architectures and make digital transformation processes more efficient and effective
• Discussions of the most important barriers to value in typical big data and AI projects and how to bring them down
• The most effective methodology to help shorten the long, wasteful process of "boiling the ocean of data"

An exciting and essential resource for managers, executives, board members, and other business leaders engaged or interested in harnessing the power of artificial intelligence and big data, Behavioral AI will also benefit data and machine learning professionals.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 239
• Erscheinungstermin: 3. Februar 2025
• Englisch
• ISBN-13: 9781394196845
• Artikelnr.: 73284381

Autorenporträt

ROGAYEH TABRIZI, PHD, is the founder and CEO of Theory+Practice, a technology company with deep expertise in AI and data and specializes in helping large CPG and Retail enterprises utilize their data to radically enhance revenue optimization decisions. She has a PhD in Economics and a MSc in Particle Physics and worked on the ATLAS detector at CERN.

Inhaltsangabe

Preface xi 
Chapter 1 Magic Happens at the Intersections 1 
Asking the Right Questions: Data, Intuition, and Strategy 3 
Simplifying the Complexity 6 
Connecting the Dots 8 
Uncovering Hidden Patterns: Models and Algorithms in Action 10 
Decoding Consumer Behavior: The Interplay of Psychology and Economics 11 
Empowering Behavioral Economics: The Synergy of Data Analytics, ML, and AI
14 
Crafting a Customer- Centric Paradigm: The Fusion of Technology and
Behavioral Insights 17 
Chapter 2 It Is All Connected: Behavioral Economics, Decision-Making,
Biases, and Heuristics 19 
History and Origins of Behavioral Economics 20 
Early Days 21 
Entering Mainstream Economics 23 
Current Research and Practical Applications 26 
Back to the Beginning 30 
Psychology of Decision- Making 33 
Dual- Process Theories 33 
Heuristics and Biases 35 
Noise 39 
Prospect Theory 40 
Nudging 42 
Experimentation 46 
How It Works 47 
Uber and Experimentation 49 
Chapter 3 Minimal Data, Maximal Impact: From Big Data to Minimum Viable
Data 53 
How Much Data Are We Talking About? Lots and Lots 55 
You Do Not Need a Lot of Data to Get Started, You Need the MVD 58 
Asking the Right Questions, Again! 59 
Synthetic Data: What It Is and What It Isn't 63 
Survey Data to the Rescue 67 
Chapter 4 Building Intelligence: AI and ML Essentials, Transforming Data
into Intelligence 73 
Classical AI 76 
ML 78 
Deep Learning 82 
Generative AI 86 
Machine Intelligence and Biologically Inspired Models 90 
Chapter 5 Real-World Impact: Harnessing AI and ml for Practical Solutions
95 
Unleashing the Full Potential of AI: Beyond the Hype 96 
Rethinking Segmentation: Beyond Demographics and Life Stages 97 
Uncovering Unexpected Customer Patterns 101 
Predicting Intent and Mapping Customer Journeys 104 
Overcoming Challenges in Predicting Customer Intent 106 
Predicting and Managing Returns 108 
The Power and Nuances of Recommendation Models 111 
Broadening Horizons: Beyond Category Killers 114 
Enhancing In- Store Experience with Recommendation Models 116 
Leveraging Propensity Models for Targeted Campaigns 118 
Personalized Pricing: Influencing Behaviors and Financial Outcomes 121 
Behavioral Economics in Personalized Pricing Strategies 124 
Forecasting: Understanding the Dynamics of Demand 127 
The Power of Forecasting and Optimization 131 
Transparent MMMs 132 
Ensembling Models for Enhanced Forecasting 133 
The Interplay of Demand Forecasting and Inventory Optimization 133 
Conclusion 135 
Chapter 6 Decoding Complexity: Leveraging Systems Thinking in Modern
Organizations 137 
Only a Wet Baby Likes Change: Loss Aversion + Status Quo Bias 140 
It Gets Better! Commitment Device, Peer Effect, and Sunk Cost Fallacy 145 
Conclusion 151 
Chapter 7 Unlocking Scale: Overcoming Operational and Organizational
Complexity in Scaling AI Projects 155 
Enablers of Success 156 
Communication and Intellectual Diversity 159 
Building Trust, Experimentation, and Adoption 164 
Interpretation Layers 166 
The Power of Experimentation 169 
Measuring ROI Through Experimentation 171 
Conclusion 173 
Epilogue 175 
Notes 179 
Additional Reading 189 
Bibliography 197 
Acknowledgments 205 
About the Author 207 
Index 209