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𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐯𝐞 𝐀𝐈 𝐚𝐧𝐝 𝐨𝐭𝐡𝐞𝐫 𝐞𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 (AI in general, digital platforms, blockchain, 3-D printing, etc.) pose a problem for 𝐬𝐞𝐧𝐢𝐨𝐫 𝐦𝐚𝐧𝐚𝐠𝐞𝐫𝐬. These technologies have far-reaching capabilities (partially surpassing those of humans) and are evolving rapidly, but they also come with significant risks. Senior managers, who have built their 𝐞𝐱𝐩𝐞𝐫𝐭𝐢𝐬𝐞 and associated 𝐬𝐭𝐚𝐭𝐮𝐬 over the years,

1. Language models By now, we all know that large language models (LLMs) are very capable in qualitative and language-based tasks. The jury is still out, however, concerning their 𝐫𝐞𝐚𝐬𝐨𝐧𝐢𝐧𝐠 𝐚𝐧𝐝 𝐧𝐮𝐦𝐞𝐫𝐢𝐜𝐚𝐥 skills. Researchers at the University of Chicago’s Booth School of Business (my alma mater) used 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐒𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 (FSA) to test LLMs’ ability