Generative AI for Business Strategy: Using Foundation Models to Create Business Strategy Tools

• URL: http://arxiv.org/abs/2308.14182v1
• Date: Sun, 27 Aug 2023 19:03:12 GMT
• Title: Generative AI for Business Strategy: Using Foundation Models to Create Business Strategy Tools
• Authors: Son The Nguyen, Theja Tulabandhula
• Abstract summary: We propose the use of foundation models for business decision making. We derive IT artifacts in the form of asequence of signed business networks. Such artifacts can inform business stakeholders about the state of the market and their own positioning.
• Score: 0.7784248206747153
• License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
• Abstract: Generative models (foundation models) such as LLMs (large language models) are having a large impact on multiple fields. In this work, we propose the use of such models for business decision making. In particular, we combine unstructured textual data sources (e.g., news data) with multiple foundation models (namely, GPT4, transformer-based Named Entity Recognition (NER) models and Entailment-based Zero-shot Classifiers (ZSC)) to derive IT (information technology) artifacts in the form of a (sequence of) signed business networks. We posit that such artifacts can inform business stakeholders about the state of the market and their own positioning as well as provide quantitative insights into improving their future outlook.

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