The University of PennsylvaniasWharton Schoolof Business June 30 announced the establishment of WhartonAI for Business, an initiative led by AI expert and Wharton professor Kartik Hosanagar.

The initiative boasts that it will inspire cutting-edge teaching and research in artificial intelligence, while joining with global business leaders to set a course for better understanding of this nascent discipline.

The advances made possible by artificial intelligence hold the potential to vastly improve lives and business processes, outgoing Wharton DeanGeoff Garrett in a statement. Our students, faculty, and industry partners are eager to join in our AI knowledge creation efforts to more deeply explore how machine learning will impact the future for everyone.

Operating withinAnalytics at Whartonand led by Hosanagar, the John C. Hower Professor of Operations, Information and Decisions, AI for Business will explore artificial intelligences applications and impact across industries, the university notes.

Hosanagar is renowned for his AI research and instruction. He is the author of the book, A Humans Guide to Machine Intelligence: How Algorithms Are Shaping Our Lives and How We Can Stay in Control, and created the first Wharton online courses on AI, Artificial Intelligence for Business.

The Indian American entrepreneur has also founded or advised numerous startups in online marketing and retail, including Yodle and Milo, it said.

Our students and professors are energized by the idea that AI is influencing nearly every aspect of humanity, and our efforts to understand it can make a difference for years to come, he said in the university report.

Im very excited to help lead AI for Business since the future of machine learning is happening nowthere are unlimited entry points for experiential learning to explore the topic, the professor added.

The launch of AI for Business is made possible by a $5 million gift from Tao Zhang and his wife Selina Chin, the Wharton alumni couple who founded the food delivery app Dianping and run the Singapore-based Blue Hill Foundation.

Earlier this year, Hosanagar launched one of the leading online courses in the AI space, the highly popular Artificial Intelligence for Business, offered by Wharton Online, according to the university.

Hosanagar spoke tothe university media outlet, Penn Today,about what he sees happening with AI in business, especially in light of the coronavirus pandemic.

He noted that AI for Business will support students, faculty and industry.

The professor said in the report that real gains in AI lie in using it for high-risk opportunities that revolve around customer satisfaction or other revenue generating activities.

Also, what separates the AI projects that succeed from the ones that dont often has to do with the business strategies organizations follow when applying AI, he said.

Streaming platforms such as Netflix and other entertainment companies face a dilemma because social distancing has disrupted their content creation pipelines, he noted.

When asked how students will benefit from AI for Business, Hosanagar said that, in addition to having access to new AI-focused courses, students will be able to apply classroom learning to real life business challenges through an analytics accelerator project, AI focused datathon, Whartons Venture Lab Business Challenge, Industry speaker series, and AI focused business treks.

As for the future of AI, he said, The future is very bright, including innovative methods for data collection, content creation, and large-scale automation that are opening new opportunities for business with the use of AI applications.

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Wharton School's Kartik Hosanagar Launches AI for Business Initiative - India West