eprintid: 10195951 rev_number: 7 eprint_status: archive userid: 699 dir: disk0/10/19/59/51 datestamp: 2024-08-20 10:52:06 lastmod: 2024-08-20 10:52:06 status_changed: 2024-08-20 10:52:06 type: working_paper metadata_visibility: show sword_depositor: 699 creators_name: Doshi, Anil R creators_name: Bell, J Jason creators_name: Mirzayev, Emil creators_name: Vanneste, Bart title: Generative Artificial Intelligence and Evaluating Strategic Decisions ispublished: pub divisions: UCL divisions: B04 divisions: F49 keywords: generative artificial intelligence, artificial intelligence (AI), large language models (LLMs), strategic decision making, strategic decisions, business models note: This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions. abstract: Strategic decisions are uncertain and often irreversible. Hence, predicting the value of alternatives is important for strategic decision making. We investigate the use of generative artificial intelligence (AI) in evaluating strategic alternatives using business models generated by AI (study 1) or submitted to a competition (study 2). Each study uses a sample of 60 business models and examines agreement in business model rankings made by large language models (LLMs) and those by human experts. We consider multiple LLMs, assumed LLM roles, and prompts. We find that generative AI often produces evaluations that are inconsistent and biased. However, when aggregating evaluations, AI rankings tend to resemble those of human experts. This study highlights the value of generative AI in strategic decision making by providing predictions. date: 2024-02-15 publisher: SSRN official_url: https://doi.org/10.2139/ssrn.4714776 oa_status: green full_text_type: pub language: eng primo: open primo_central: open_green verified: verified_manual elements_id: 2306212 lyricists_name: Doshi, Anil lyricists_id: ARDOS53 actors_name: Doshi, Anil actors_id: ARDOS53 actors_role: owner full_text_status: public place_of_pub: Amsterdam, Netherlands pages: 63 citation: Doshi, Anil R; Bell, J Jason; Mirzayev, Emil; Vanneste, Bart; (2024) Generative Artificial Intelligence and Evaluating Strategic Decisions. SSRN: Amsterdam, Netherlands. Green open access document_url: https://discovery.ucl.ac.uk/id/eprint/10195951/1/ssrn-4714776-3.pdf