The new Centre for Brain, Mind and Markets at the Faculty of Business and Economics, University of Melbourne, launched on Thursday, 15 September 2022 with a lively discussion on the role of artificial intelligence (AI) in leadership.
Professor Carsten Murawski, Director of the Centre, facilitated the discussion with guest panellists: Professor Jeannie Paterson, a legal scholar and a world-leading expert on AI and ethics; Professor Toby Walsh, a best-selling author, leading computer scientist and one of the world's most distinguished AI experts; and Mr Mark Delaney, Deputy Chief Executive and Chief Investment Officer of Australia's biggest superannuation fund, AustralianSuper.
The topic for discussion was, "Leadership by Algorithm?"
Over an hour, the panellists gave insights into a range of questions including: What makes a good leadership decision? Are machines capable of making better decisions than humans? Why is it important for leaders to understand ethics when using technology? What skills will a leader require in 20 years' time?
Prof Murawksi said the discussion was perfectly suited to the launch of the Centre for Brain, Mind and Markets because it gave perspectives into what makes good decisions and which capacities are required to make those decisions.
"The Centre will look at how leaders make decisions, and technology is increasingly used by organisations to conduct or assist decision making, so this discussion was a great way to look at opportunities but also limits of the use of AI in decision making," said Prof Murawski.
"The Centre will go further and conduct research into ways we can improve decision making. It will be a hub for world-class research on both human and machine decision making, and transfer this research into the classroom," he said.
He said good decisions in a complex world require a multi-discipline understanding of challenges, and the Centre's research will reflect that, bringing together thinking from the fields of economics, marketing, psychology, neuroscience and many others.
Following the discussion guests had the opportunity to meet the Centre's PhD students to discuss current research projects.The launch was held at Melbourne Connect, a meeting place for collaboration between research and industry.