If/Then (Stanford GSB)

Artificial intelligence could fundamentally transform democracy for better or worse. In this bonus episode of If/Then: Business, Leadership, Society, Professor Andrew B. Hall of Stanford Graduate School of Business explores AI's potential to disrupt our electoral system. With the 2024 presidential election approaching, Hall warns that AI-generated misinformation could sway voters and erode trust in democratic processes. Yet he also sees AI's potential to solve political challenges. If we want to maintain a healthy democracy, then it’s crucial to understand AI's impact on our political landscape in the upcoming election and beyond.

Key Takeaways:

• AI's potential for misinformation: Professor Hall warns that AI-generated content misinform voters, potentially influencing election outcomes.
• Threat to democratic integrity: The possibility of AI-driven misinformation could erode trust in the fairness and integrity of democratic processes, leading to decreased acceptance of election outcomes.
• AI's dual nature in politics: While AI poses significant risks, Hall also thinks it could provide solutions to existing political problems, suggesting it will have a complex, double-edged impact on democracy.

More Resources:

• Andrew Hall, faculty profile
• White Paper: Preparing for Generative AI in the 2024 Election: Recommendations and Best Practices Based on Academic Research, By Ethan Bueno de Mesquita, Brandice Canes-Wrone, Andrew B. Hall, Kristian Lum, Gregory J. Martin, Yamil Ricardo Velez, Stanford Graduate School of Business and the University of Chicago Harris School of Public Policy, November 2023

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. For a full transcript of this episode, visit our podcast’s website.

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Is burnout simply the cost of doing business? What responsibility do employers have for the health and well-being of their workers? Jeffrey Pfeffer, the Thomas D. Dee II Professor of Organizational Behavior at Stanford Graduate School of Business and author of Dying for a Paycheck and 7 Rules of Power, says that the connection between workplace stress and negative health outcomes is as strong as the link between smoking and cancer — and may contribute to as many as 120,000 deaths annually in the U.S. alone.

So what do we do about it? 

Pfeffer’s answer isn’t just surprising — it’s a radical critique of the way we work today.

This episode features Sundance Scardino, a retired para-rescue specialist, firefighter, and paramedic.

Is it time to rethink the way we work? Email us at ifthenpod@stanford.edu. 

Related Links:

• Jeffrey Pfeffer faculty profile
• “The Workplace Is Killing People and Nobody Cares”
• “We Have 30 Extra Years”: A New Way of Thinking About Aging
• Why “Copycat” Layoffs Won’t Help Tech Companies — Or Their Employees

This conversation was recorded on September 10, 2024.

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It can be tempting to think one thing causes another because they happen in succession, but there’s a lot to unwrap in the idea of causality. This week, If/Then is featuring an episode from the podcast All Else Equal: Making Better Decisions. Listen as hosts and finance professors Jonathan Berk and Jules van Binsbergen explain the difference between correlation and causality, and examine cases where it is tempting to assume one thing caused another. Their guest for this episode, Guido Imbens, is a professor of Economics at Stanford Graduate School of Business, and was awarded the Nobel Prize in 2021.

All Else Equal: Making Better Decisions Podcast is a production of Stanford GSB and is produced by University FM. It is hosted by Jonathan Berk, The A.P. Giannini Professor of Finance at Stanford GSB, and Jules van Binsbergen, The Nippon Life Professor in Finance, Professor of Finance, at The Wharton School. Each episode provides insight into how to make better decisions.

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If we create good institutions, then we can live up to our good intentions.

Knowing and articulating our values is essential. But when the metaphorical Siren’s song fills the air, is knowing our values enough to ensure that we live by them?

According to Ken Shotts, a professor of political economy at Stanford Graduate School of Business, having stated values is just expressing aims not necessarily actualizing them through concrete policies and practices. “We need those binding institutions to help us live up to those intentions,” Shotts says. 

From incentive structures within organizations to regulatory bodies, laws, and civic organizations in society at large, Shotts explains how carefully designed institutions can ensure that we don’t just espouse good intentions, but that we actually live up to them.

Key Takeaways: 

• Good intentions aren’t enough: While defining our values is essential, we need binding institutions to ensure those values are upheld at the personal level, organizational level, and in society at large.

• Keeping businesses on track: At an organizational level, key "institutions" include tangible incentive structures like compensation, promotion criteria, monitoring processes, and cultural norms around praiseworthy and unacceptable behavior.

• Keeping society on track: On a broader scale, societal institutions like regulations, laws, and civic groups provide crucial checks and balances to channel business activities toward positive societal impact beyond just profits.

More Resources:

• Ken Shotts is The David S. and Ann M. Barlow Professor of Political Economy.
• Ken Shotts, Stanford GSB Voices profile
• Leading With Values, by Ken Shotts and Neil Malhotra
• Ken Shotts on Think Fast, Talk Smart – Leadership and Ethics: How to Communicate Your Core Values

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. Each episode features an interview with a Stanford GSB faculty member.

Find out more about If/Then.

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Digital currency — whether privately-developed or government-issued — seems like an inevitability to Stanford Graduate School of Business finance professor Darrell Duffie. “Virtually all countries are exploring a central bank digital currency for potential use,” he says.

An expert on banking, financial market infrastructure, and fintech payments, Duffie is interested in how central bank digital currencies (CBDC) could revolutionize economies around the world. The shift to a digital version of a fiat currency, still backed by a country’s central bank, could offer significant benefits compared to the current financial system. These include improved financial inclusion, lower cross-border payment costs, and more timely and secure transaction processing.

The key, Duffie says, is striking the right regulatory balance to foster innovation while mitigating risks. As this episode of If/Then explores, if the U.S. wants to future-proof banking, then a digital dollar could be a solution.

Key Takeaways:

• The benefits of central bank digital currencies: As digital versions of a country's fiat currency, backed by its central bank, CBDCs could provide advantages over the current financial system. These include improved financial inclusion, lower cross-border payment costs, and more timely and secure transaction processing.

• Challenges could be ahead: Duffie sees two major impediments — privacy concerns and the potential impact on the U.S. dollar's global dominance.

• The U.S. dollar's reserve currency status is secure for now: China's development of a "digital renminbi" raises questions about the dollar's dominance. Even so, Duffie believes the U.S. currency will maintain its position as the world's reserve currency for decades to come.

• Regulation will be crucial: Duffie says the U.S. lags behind other countries in establishing clear rules for cryptocurrencies and digital assets. Finding the right regulatory balance is critical if we’re going to foster innovation while mitigating risks.

More Resources:

Darrell Duffie, The Adams Distinguished Professor of Management and Professor of Finance.

Capitol Gains: GSB Professors Share Their Expertise in DC and Beyond

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society.

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Getting to elect our leaders is certainly a privilege. Yet, even in a representative democracy, the choice that citizens have is often only as good as the candidates they have to choose from. That’s why Professor Andrew B. Hall, The Davies Family Professor of Political Economy, wonders: How do we get society’s best and brightest to participate in politics?

As a political economist at Stanford Graduate School of Business and the Stanford School of Humanities and Sciences, Hall has spent years studying what motivates people to engage in the democratic process. On this episode of If/Then: Business, Leadership, Society, he shares his insights on how we can create a system that attracts a more diverse and qualified pool of candidates to run for public office and encourages greater voter participation at the local, state, and national levels.

Key Takeaways: 

• Engagement starts with incentives: Whether encouraging better candidates to run for public office or driving higher voter turnout, Hall says our democratic system must incentivize citizens to actively take part in the process.
• What's at stake?: People are more likely to participate in democratic processes when they understand how the outcome directly affects them. Hall cites how homeowners are more likely to vote on local zoning issues that impact their property values.
• Adapting new technologies thoughtfully: As new technologies emerge, Hall says it's crucial to consider how they can be harnessed to improve democratic participation and address the challenges facing our political system.

More Resources

• Andrew B. Hall, The Davies Family Professor of Political Economy
• What Kinds of Incentives Encourage Participation in Democracy? Evidence from a Massive Online Governance Experiment 
• Stanford GSB Insights:
• Inside a Government Where People Are Paid to Vote
• If You Lived Here, You Might Be a Voter By Now

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society.

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Can the workplace be as harmful as smoking? Is it possible for governments and corporations to rebuild trust once they’ve lost it? How are nations wielding financial power to shape global politics? On Season Two of If/Then, Stanford Graduate School of Business faculty tackle big questions about business, leadership, and society, providing innovative, research-based insights to help you navigate rapidly changing times.

Join your host, senior editor Kevin Cool, for conversations that will challenge the way you lead, think, and act. 

New episodes on Wednesdays, starting February 5th. 

Thoughts? Email us at ifthenpod@stanford.edu. More information is available on our website.

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To wrap up the first season of If/Then: Business, Leadership, Society, we invited Senior Associate Dean Jesper B. Sørensen into the studio to talk about the importance of research at Stanford Graduate School of Business. He shares insights on what motivates faculty to study what they do and how it impacts practitioners across industries.    

“One of the challenges of being a great researcher is that you need to move away again from this kind of day-to-day reality.… I think a gift that a lot of our faculty have is to be able to both live in that very abstract kind of world and then make it relatable to somebody who’s not living in that world,” Sørensen says. 

“Sometimes putting fundamental insights into practice is really hard. One of the hallmarks of research is trying to isolate particular mechanisms through various kinds of control. Scientists live in the world where it’s a vacuum, and so we just watch the leaf fall and we can then time it and then tell you what the answer is,” Sørensen says. “And managers live in a world where the wind is blowing and there’s all these kinds of forces getting in the way.” 

In his conversation with podcast host Kevin Cool, Sørensen also shares his thoughts on three episodes from If/Then’s first season.

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. Each episode features an interview with a Stanford GSB faculty member.

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Jensen Huang, co-founder and CEO of NVIDIA, believes leadership is about more than making decisions—it’s about empowering others to reason through ambiguity and drive transformative change. In this bonus episode of If/Then, Huang sits down with Stanford GSB student Shantam Jain, MBA ’24, on Stanford GSB’s View From The Top podcast, to discuss his journey from an ambitious engineer to the leader of one of the most innovative companies in the world. 

Huang reflects on the lessons learned during pivotal moments in NVIDIA’s history, from betting on 3D graphics before the market existed to embracing the potential of AI and accelerated computing. “You can’t create change by doing what everyone else is doing,” Huang explains. “You have to go back to first principles and ask: how would you build this today?” 

Despite navigating industry disruptions and financial crises, Huang remains focused on the future. He shares how NVIDIA has consistently stayed ahead by building technology that not only solves today’s problems but anticipates the needs of tomorrow. As this episode reveals, it’s not just about technological breakthroughs—it’s about cultivating a culture of resilience and purpose to redefine the future.

For a full transcript of this episode, visit our podcast’s website. 

More Resources:

• View From The Top: The Podcast | Stanford GSB
• Jensen Huang on How to Use First-Principles Thinking to Drive Decisions | Stanford GSB

Chapters: 

(00:00:00) Introduction

Kevin Cool introduces a bonus episode from the View From The Top podcast featuring CEO and founder of NVIDIA, Jensen Huang.

(00:01:39) Early Career and Founding NVIDIA

Huang reflects on his journey from LSI Logic to co-founding NVIDIA.

(00:04:56) Securing Early Investments

Convincing Silicon Valley investors to back NVIDIA in a non-existent market.

(00:08:31) Pivoting in the Face of Failure

The critical decisions and resets that saved NVIDIA during challenges.

(00:16:24) Call That Changed Everything

The pivotal phone call that led to a shift in NVIDIA's innovation focus.

(00:19:21) Finding Conviction 

The balance of core beliefs and early indicators of future success.

(00:26:45) Weathering Market Downturns

Staying focused on unchanging principles to weather external challenges.

(00:31:36) Creating a Flat Organization

Empowering employees by sharing context and reasoning transparently.

(00:38:13) The Future of Generative AI

Generative AI’s potential to redefine computing and communication

(00:45:38) Building Organizations for Tomorrow

Designing adaptable, future-focused organizations from first principles.

(00:48:22) Challenges and Opportunities Ahead

Challenges NVIDIA faces, and the innovations Huang is most excited about.

(00:51:33) Pace and Regulation of AI Development

The need for regulatory measures alongside rapid technological advancements.

(00:55:35) Rapid-Fire Insights and Final Advice

Personal reflections, leadership advice, and hopes for NVIDIA’s legacy.

(00:57:21) Conclusion

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If we want to change power structures, then we need to understand the animal forces that drive our behavior.

As Stanford Graduate School of Business professor of organizational behavior Deborah H. Gruenfeld observes, wherever there are humans, there are hierarchies. “People have a tendency to form hierarchies almost instantly in all kinds of organizational settings, whether the task requires it or not,” she says.

Gruenfeld says our actions are still very much steered by primal drives. She unpacks this in the inaugural episode of If/Then: Business, Leadership, Society.

“One of the ways in which we're like animals is that we need to organize ourselves in order to survive,” says Gruenfeld, who studies group dynamics and decision-making. “It’s a very basic instinct to create structures in groups that help members coordinate so they don't have to fight with one another.”

Gruenfeld’s insights open a discussion about how we can modify existing hierarchies to create relationships, organizations, and the society we want. 

As this episode of If/Then explores, if we want to change power structures, then we need to understand the animal forces that drive our behavior.

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. Each episode features an interview with a Stanford GSB faculty member.

More Resources:

Acting with Power: Why We Are More Powerful Than We Believe, by Deborah H. Gruenfeld

Deborah H. Gruenfeld on Stanford GSB's podcast, Think Fast, Talk Smart, “How to Communicate Power” 

Deborah H. Gruenfeld on Stanford GSB's podcast, Grit & Growth, "The Psychology of Power and Influence"

Insights featuring research by Deborah H. Gruenfeld: 

• "We Don't Like Domineering Bosses. So Why Do We Put Up With Them?"
• Class Takeaways: Managing Successful Groups and Teams
• Diverse Teams Produce Better Decisions

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Behind every lesson lies a journey of discovery. In this special episode of If/Then, we step into the classrooms of Stanford Graduate School of Business to uncover the human stories driving extraordinary insights. Christian Wheeler, professor of marketing at Stanford GSB, challenges our fear of failure, reframing it as the sharp edge where growth truly happens. “Be comfortable being uncomfortable,” he says, urging leaders to embrace the anxiety of pushing limits to unlock their peak potential.

Michele Gelfand, a professor of organizational behavior, takes us into the intricate world of cultural intelligence. “Negotiating across cultures isn’t just about competence—it’s about curiosity,” she explains, showing how understanding diverse perspectives can transform deadlock into breakthrough.

And Jesper Sørensen, professor of organizational behavior, redefines what it means to lead. “Strategy isn’t a blueprint; it’s a living process,” he reflects, advocating for leaders to connect the dots, not just assign tasks, and to see uncertainty as a gateway to discovery.

These faculty members remind us that leadership is as much about understanding ourselves as it is about guiding others. Whether it's failure, negotiation, or strategy, this episode showcases how curiosity and humanity are integral to leadership.

Key Takeaways:

• Strategy is dynamic, not static: Leaders must explain the "why" to align their teams.
• Fear of failure can hinder growth: Growth requires embracing discomfort and using storytelling to connect and lead.
• Metaphors as tool for negotiation: Use metaphors to guide your goals and assess your success in the negotiation process. 

More Resources:

• Christian Wheeler, faculty profile
• Jesper Sørensen, faculty profile
• Michele Gelfand, faculty profile
• Class Takeaways

This episode of If/Then uses previously recorded audio and is repackaged in a new way. It features faculty talking about their research and the goal is to share more about faculty, while also keeping the If/Then podcast feed producing thought-provoking, research-backed content for our audiences. 

Chapters: 

(00:00:00) Introduction

Kevin Cool introduces the episode featuring clips from the Class Takeaways series.

(00:00:55) Embracing Failure

Professor Christian Wheeler discusses how embracing failure can lead to growth.

(00:03:55) Strategy as a Dynamic Process

Professor Jesper Sørensen redefines strategy as an evolving course of action, not a static plan.

(00:08:00) Cultural Intelligence in Negotiation

Professor Michele Gelfand explains how cultural intelligence is key to negotiation.

(00:12:31) Conclusion

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If we want to generate better ideas, then we need to get people back to the office.

Jonathan Levav, a professor of marketing at Stanford Graduate School of Business, details his study of remote work and creativity. “Pairs that worked face-to-face generated 15 to 20% more ideas than pairs that worked on Zoom,” he notes. What’s more, in-person brainstorming helped people consider a wider and more diverse range of possibilities. “Working on Zoom was a double penalty. Fewer ideas — and a narrower set of ideas.”

Remote work may be the new normal in our post-pandemic world, but Levav cautions us from accepting the status quo — especially if we want to keep our creative edge. As this episode of If/Then: Business, Leadership, Society. explores, our best ideas could still lie ahead of us — if we can all get in the same room.

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. Each episode features an interview with a Stanford GSB faculty member. 

Key Takeaways: 

1. For hybrid work environments, managers should select “in-office” days based on tasks we perform better in person, such as collaboration and brainstorming.
2. More flexible schedules for remote and office work allow employees to bring their best selves and perform better at their jobs.  

More Resources: 

Listen to Jonathan Levav’s Webby-Award winning episode on Think Fast, Talk Smart: "Leading From Home: How to Create the Right Environment for Communication" on Spotify, Apple, YouTube, or wherever you get your podcasts.

Jonathan Levav, The King Philanthropies Professor of Marketing

Stanford GSB Insights featuring Levav's research:

• 7 Insights to Boost Creativity at Work
• Effective Recommendations Are Better Heard Than Seen
• Customer Psychology: Why Don’t People Buy Your Stuff?

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While our team starts working on our second season, we'll still be sharing insights, bonus content, behind-the-scenes audio, and "class takeaways" from Stanford Graduate School of Business faculty throughout the summer. Stay Tuned!

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How do we get people back to the office? How and when can AI be a powerful decision-making tool? How will digital currencies transform payment systems?

On If/Then, experts from Stanford Graduate School of Business share their research findings on a range of topics that intersect with business, leadership, and society. We’ll tackle practical, cutting-edge insights that will help you manage better, lead more confidently, and understand pressing issues affecting our lives.

Join GSB senior editor and host Kevin Cool as we hear about the latest research in technology, economics, marketing, politics, and several other areas that intersect with business.

Season One drops with two episodes on January 24th and new episodes release every Wednesday.

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Whether or not robots can feel is a question that, at least for now, might be better left to the philosophers. But what’s becoming increasingly clear, says Associate Professor Szu-chi Huang, is that robots do have the capacity to make us feel. 

In this episode of If/Then: Business, Leadership, Society, Huang delves into the effect that robots can have not just on our emotions, but on our behavior.

Huang’s research shows that when people witness people helping others, they’re inspired to do the same. This is what she calls “pro-social” behavior. But she wondered: what happens when a robot is the one lending a helping hand? Are people inspired to by machines?

To find out, Huang designed a study where participants were shown various news reports about natural disasters and the measures being taken in response. In some stories, the “heroes” were human first responders; in others, they were robots. 

“In both cases, we [explained] in detail what those heroes were doing,” says Huang. Whether dragging survivors out of ruins after an earthquake or disinfecting hospitals amidst a surging COVID-19 pandemic, “The actions are exactly the same, but the heroes are different.”

Following test subjects’ exposure to these stories, Huang measured their willingness to engage in pro-social behavior, like donating to support children in need. What she found was those who saw robot heroes were significantly less likely to donate than those who saw humans take the same actions. “The robot stories actually make people feel less inspired,” says Huang. “And that has important consequences. If using robots lowers our intention to help others, it could have a pretty big negative social impact.”

So what do we do as AI and robots play an increasing role in our lives? How do we embrace their benefits without downgrading our humanity and pro-sociability in the process? On this episode of If/Then, Huang explores how “humanizing” robots — highlighting their vulnerability, autonomy, and finitude — helps us connect with them and ourselves more deeply.

Takeaways

1. We are inspired to help people when we see others doing so. But what if it’s robots lending a helping hand? Are we still motivated to also help? 
2. How we “humanize” robots — choosing features that highlight their vulnerability, autonomy, and finitude — could help us connect with them and ourselves more deeply.

More Resources:

• Robots or Humans for Disaster Response? Impact on Consumer Prosociality and Possible Explanations, Journal of Consumer Psychology
• Think Fast, Talk Smart: The Podcast: From Dreaming to Doing: How We Set and Achieve Goals

From Stanford GSB Insights:

• Why We See Rescue Robots as Helpers, Not Heroes
• Redefining Success: Adopt the Journey Mindset to Move Forward

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society.

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Susan Athey, the Economics of Technology Professor at Stanford Graduate School of Business and founding director of the Golub Capital Social Impact Lab, studies the impact of technological innovations on workers, businesses, and society. 

Will the world’s economies successfully adapt to a future defined by artificial intelligence? On this episode, Athey shares what the stories of 22,000 laid-off workers in Sweden can tell us about who recovers from economic turmoil, how small design changes and product features can have outsize societal impact, and how AI could transform the way we work, from hiring to healthcare. 

What’s the best way to build a future that effectively integrates AI and supports workers? Tell us more at ifthenpod@stanford.edu.

This episode was recorded on December 16, 2024. 

Related Content:

• Susan Athey faculty profile
• A Low-Cost, Scalable Way to Get More Women Into Tech
• A.I. Can Help “Personalize” Policies to Reach the Right People
• A/B Testing Gets an Upgrade for the Digital Age
• East Brother Light Station

Chapters

• (00:00:00) - Modernizing a 150 Year Old Lighthouse
• (00:03:05) - Adapting to Advancing Technology
• (00:04:20) - Impact of Mass Layoffs
• (00:06:16) - Low-Cost Scalable Solutions
• (00:13:37) - AI’s Role in the Future of Work
• (00:19:45) - Managing Transitions in the Job Market

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Immigrants’ contributions to America include culture, cuisine — and groundbreaking ideas. “No one is that surprised that immigrants play a disproportionate role in innovation,” says Rebecca Diamond, a professor of economics at Stanford Graduate School of Business. But, she notes, “Innovation in itself is an elusive thing to measure.” By studying patents, Diamond has revealed new insights into the important role immigrants play in fueling innovation. Diamond explains more in this episode of If/Then: Business, Leadership, Society.

Today, foreign-born Americans make up around 10% of the population of the United States. Yet, as Diamond found in her research, immigrants are responsible for 24% of recent U.S. patents. What’s more, she explains, these immigrant inventors serve as catalysts for their native-born collaborators, pushing them to be more creative. Altogether, Diamond says, “You find that 36% of all innovation can be attributed to immigrants.”

“That’s a big number,” Diamond says. This finding not only highlights immigrants’ outsize contribution to the U.S. economy but also provides a glimpse into the teamwork that generates new ideas. “The way to have successful innovation is not to just put smart people in a room by themselves and tell ’em to think hard,” she says. “It’s to collaborate and work together and create new ideas through the synergies of their knowledge.”

Immigration is a contentious political issue. Diamond notes that “any policies that would limit or lower the number of immigrants coming to the U.S. for these super high-skill innovative jobs would have a large effect on future innovation.” As this episode of If/Then explores, for America to remain a source of new ideas that contribute to economic growth and technological progress, we’ve got to understand the vital link between immigration and innovation.

Key Takeaways:

• Outsize impact: Immigrant inventors register more patents than native-born Americans. While only 10% of U.S. citizens are immigrants, immigrants are responsible for 24% of recent patents.
• The collaboration connection: Immigrants positively influence the productivity of their American collaborators.
• The global knowledge network: Immigrants are more likely to cite foreign patents and are more likely to be cited by patents produced abroad. 

More Resources:

Rebecca Diamond is the Class of 1988 Professor of Economics at Stanford Graduate School of Business.

1. A New Look at Immigrants’ Outsize Contribution to Innovation int he U.S. 
2. Voices of Stanford GSB faculty, Rebecca Diamond

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society.

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What’s one of the most powerful forces behind technological breakthroughs, business strategy, and job creation? The tax code.

Rebecca Lester, an associate professor of accounting and one of three inaugural Botha-Chan Faculty Scholars at Stanford Graduate School of Business, studies how subtle tax incentives can trigger monumental business decisions, determining how companies invest, grow, and innovate.

These incentives don’t just shape corporate strategy — they ripple across industries, economies, and markets. From advancing clean energy to catalyzing global competition, you might think of tax policy as a blueprint for the future. The big question: how to do it right.  

Have tax incentives led you to make a personal or professional decision? Tell us more at ifthenpod@stanford.edu.

Related Content:

• Rebecca Lester faculty profile
• American Innovation Got Slammed by the “Temporary” End of a Key Tax Incentive
• Why Some Countries Want Companies to Think Inside the “Innovation Box”
• Tax Cuts in the UK Gave an Unexpected Boost to African Economies

This conversation was recorded on November 5, 2024.

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This special episode of If/Then: Business, Leadership, Society explores the personal stories behind Stanford GSB faculty's groundbreaking research. Discover how individual experiences shape scholarly inquiry.

• Baba Shiv, professor of marketing, examines decision-making and the brain's liking and wanting systems. His self-proclaimed "irrational" nature led him to question whether good decisions are based on reason or emotion.
• Mohammad Akbarpour, professor of economics, found his passion in market design, seeing economics as "the right mix of thinking about humans and mathematics." His research on welfare economics stems from observing economic disparities in his native Iran.
• Deborah Gruenfeld, professor of organizational behavior, studies power dynamics inspired by her early career and family history. Her work reveals how even arbitrary positions of authority can dramatically alter behavior.

These faculty remind us that behind every groundbreaking theory are real people driven by curiosity to make sense of the world around them. Join us to hear how personal journeys fuel impactful business research.

Key Takeaways:

• Personal experiences shape research: Leading scholars draw inspiration from their own lives and observations, leading to innovative research questions and approaches.
• Challenging assumptions drives discovery: Researchers like Baba Shiv, Mohammad Akbarpour, and Deborah Gruenfeld push boundaries by questioning fundamental assumptions in their fields and themselves, leading to new insights.
• Human stories behind data: This episode reveals that even in data-driven fields like economics and organizational behavior, personal narratives and curiosity play a crucial role in shaping impactful research.

More Resources:

• Baba Shiv, faculty profile
• Mohammad Akbarpour, faculty profile
• Deborah Gruenfeld, faculty profile

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. For a full transcript of this episode, visit our podcast’s website: https://www.gsb.stanford.edu/insights/why-i-research-findings-fueled-head-heart

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Only a third of the global population is financially literate. Why? Because most of us don’t learn the basics of personal finance in school — or elsewhere. 

Treating financial literacy as an afterthought can have serious consequences, from personal calamities to economic crises, according to Annamaria Lusardi, a professor of finance and the director of the Initiative for Financial Decision-Making at Stanford Graduate School of Business. 

On this episode of If/Then, Lusardi makes the case for treating financial education like preventative care: essential, cost-effective, and an enormous opportunity to improve people’s lives, boost workplace performance, and strengthen economic resilience.  

“We should learn about money as soon as possible,” Lusardi says. “As soon as the tooth fairy comes.”

Where do you go for financial advice? Tell us more at ifthenpod@stanford.edu.

This episode was recorded on November 5, 2024.

Related Content:

• Annamaria Lusardi faculty profile
• On a Mission to Teach the World the Basics of Personal Finance

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

One underappreciated fact about the explosion in genetic databases, like consumer sites that provide information about ancestry and health, is that they unlock valuable insights not only into an individual’s past and future, but also for that individual’s entire family.

This raises serious concerns about privacy for people who have never submitted their genetic information for analysis, yet share much the same code as one who did.

This week on If/Then, we’re sharing an interview from The Future of Everything with Stanford GSB Professor Kuang Xu. Xu is an expert in how genetic information can and should be used. He says that the DNA problem weighs heavily on privacy experts in fields ranging from law and engineering to public health and criminal justice. 

The fundamental question is: Can we create methods for accessing genetic data while maximizing the privacy of all involved?

The Future of Everything is Produced by Stanford Engineering. For a full transcript of this episode, visit The Future of Everything’s website.

Chapters:

(00:00:00) Introduction

Host Kevin Cool introduces an episode featuring The Future of Everything podcast with host Russ Altman and guest Kuang Xu, a professor at the GSB. 

(00:03:24) Genetic Technology and Privacy Risks

The key ideas and methodology behind making genetic searches more private.

(00:06:23) Social Network and Genealogy in Genetic Searches

How a genealogy network functions as a social network in genetic searches.

(00:09:23) Technical Aspects of Securing Genetic Data

The difference between sequential and static methods for genetic searches.

(00:11:19) Practical Application of Sequential Methods

Ways the sequential search method could be applied without compromising privacy.

(00:12:43) First Steps in Sequential Search

What the first steps would look like when using the sequential search method.

(00:14:41) Balancing Accuracy and Privacy

Whether the new privacy methods compromise accuracy in identifying individuals.

(00:15:22) Applications in Genetic Research

How privacy methods can apply to genetic research for disease prediction and beyond.

(00:18:22) Insights During Research

Surprise findings from Kuang’s research on genetic privacy.

(00:21:28) Privacy Beyond Genetics

The possibility of applying these privacy techniques to other sensitive datasets.

(00:22:58) Commercial Interest in Privacy Solutions

The interest from companies in adopting these privacy innovations.

(00:24:09) Genetics and Business School Connection

Kuang’s work at Stanford’s School of Business and how it connects to genetics and privacy.

(00:25:30) Emergency Room Waiting Times

Research related to reducing waiting times in emergency rooms.

(00:26:57) In-Person Voting and COVID-19 Spread

Overview of data collected during in-person voting during COVID-19.

(00:27:54) Conclusion

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

“The ultimate price of a bad system falls on the public,” says Anat Admati, the George G.C. Parker Professor of Finance and Economics at Stanford Graduate School of Business and author of The Bankers’ New Clothes. “The Constitution did a lot to constrain the government, but the government has failed to constrain institutions in the private sector.” Simply put, Admati says the real problem isn’t just profit-hungry corporations, it’s the systems that let bad actors get away with it. From the opioid crisis and Boeing’s deadly 737 MAX disasters to the 2008 financial crash, Admati identifies how U.S. institutions failed — and shares the “incredibly sobering” realization that shattered her faith in the rules and those who make them.  

This episode features Dominic Cruz and Maya Kesselman Cruz, who perform in the live circus show "Dear San Francisco” at Club Fugazi.

How do you think we can restore trust in business, government, and society? Email us at ifthenpod@stanford.edu. 

Related Links

• Anat Admati faculty profile
• The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It
• No Rules, No Trust: How Accountability Shapes Communication
• Are Businesses Undermining Democracy?
• "Dear San Francisco" at Club Fugazi

This conversation was recorded on August 20, 2024.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

As leaders rise and hierarchies shift, Stanford GSB organizational behavior professor Deborah Gruenfeld, guest in season one of If/Then, reminds us that power is not just about authority—it’s about presence. In this special feed drop from Pfeffer on Power, Gruenfeld, author of Acting With Power, revisits topics featured in her If/Then episode, exploring how body language and mindset can shape perceptions of influence. “We’re all playing roles,” she explains, whether as CEOs, professors, or professionals navigating high-stakes environments. The key, she says, lies in mastering both "inside-out" techniques—such as reframing internal narratives—and "outside-in" strategies, like commanding physical space to exude confidence.

Host Jeffrey Pfeffer, professor of organizational behavior at the GSB, and Gruenfeld discuss how power dynamics transcend culture and context, offering universal lessons for anyone looking to lead with impact. “Don’t leave power to the bad guys,” Gruenfeld advises, urging listeners to embrace their own potential for influence. This episode provides actionable insights to help you show up powerfully in any room, especially when the stakes are high. As the conversation unfolds, Pfeffer and Gruenfeld challenge us to think differently about power—not as a privilege, but as a responsibility to shape better outcomes for ourselves and others.

Jeffrey Pfeffer will be a guest on the second season of If/Then. 

Pfeffer on Power is Produced by University FM. For a full transcript of this episode, visit the Pfeffer on Power’s website.

More Resources:

• Deborah Gruenfeld, faculty profile
• Deborah’s Book: Acting with Power 
• Pfeffer on Power 

Chapters: 

(00:00:00) Introduction

Host Jeffrey Pfeffer introduces guest Professor Deborah Gruenfeld from Stanford GSB.

(00:01:45) First Impressions and Body Language

How people make snap judgments based on appearance and nonverbal cues.

(00:03:25) Change How You Show Up

The possibility of reframing behavior to project more confidence and authority.

(00:06:33) Showing Up with Power

Two approaches for appearing more authoritative and powerful.

(00:08:53) Inside-Out Power

Reframing internal narratives to project power, even in moments of insecurity.

(00:11:32) Outside-In Power

Techniques for using body language to command authority.

(00:14:00) Physical and Social Dynamics

How occupying space communicates dominance and influence.

(00:17:06) Unconscious Reactions to Power 

Whether power dynamics are consistent across cultures and time.

(00:20:32) Ambivalence Toward Power

Why some individuals are reluctant to embrace power.

(00:24:47) Ethical Leaders in Power

The importance of ethical individuals embracing power to prevent its misuse by others.

(00:28:14) Conclusion

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Behavioral economist and Professor of Marketing Baba Shiv works with entrepreneurs on how to build a risk-tolerant mindset. A mindset, Shiv believes, that is crucial in times of crisis.

While we take a break and prepare for season two of If/Then, we're sharing an episode of Grit & Growth, a podcast from our partners at Stanford Seed. Here, Baba explains two types of mindsets: a fear of failure or a risk-averse mindset (type one) and a fear of missing out on opportunities mindset (type two).

“What the rational brain is good at is simply being rational ... it lists what the emotional brain has already decided to do. If you’re stuck in a risk-averse mindset, the rational brain will come in and say, 'These are the reasons why you should not innovate’ Whereas if you’re in a type two mindset, the rational brain will come in and say, 'Here are the reasons why you should take some chances.'”

And Shiv believes that taking chances, especially when your competitors are being more timid, is how leaders and companies can succeed. Shiv has seen firsthand that entrepreneurs from emerging economies are particularly innovative: “They’re facing constraints all the time and as a result are more resourceful, not in spite of their situations, but because of them.”

Shiv is the Sanwa Bank, Limited, Professor of Marketing at Stanford Graduate School of Business

Top Takeaways

1. Sleep. Without it, you’re more likely to wake up feeling risk-averse ... the antithesis to innovation.
2. Calm your mind and the rest will follow — develop a meditation, yoga, or tai chi practice to make your breath and brain more resilient to stress.
3. Pay attention to your heart—actually your heart rate variability — so you know if it’s a good time to make an important decision.
4. Innovation = creativity, multiplied by execution, divided by constraints. Don’t forget to think about your constraints in the design process.
5. Focus on building your collaborative advantage (not just competitive advantage) by developing meaningful connections with suppliers, customers, partners, even competitors. You’ll make more progress with relationships based on trust than just transactions.
6. Instill an innovative mindset throughout your company — survival is going to come from teamwork.

• On Grit & Growth, meet intrepid entrepreneurs from Africa and South Asia, hear their stories of trial and triumph, and gain insights and guidance from Stanford University faculty and global business experts on how to transform today’s challenges into tomorrow’s opportunities.
• Baba Shiv on If/Then Season One, "More Than a Feeling: The Keys to Making the Right Choice"

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A dollar is a dollar, right? While most conventional economic theories view money as an objective store of value, Mohammad Akbarpour says this misses a subtle but important fact: different people value money differently.

Many economists assume that the price someone is willing to pay for a good or service is equivalent to the utility they get from it. But Akbarpour, an associate professor of economics at Stanford Graduate School of Business, isn’t convinced. “Different people have different marginal value for money,” he says. “If someone is willing to pay $1,000 for a Taylor Swift concert, they do not necessarily get more value [than] someone willing to pay $500. If you're willing to pay more for something, that does not mean that the social welfare is maximized for giving the good to you. It could be that you're rich.”

As Akbarpour explores on this episode of If/Then: Business, Leadership, Society, money doesn’t have to be the sole decider of how scarce resources are allocated. By considering money’s subjectivity, we can design more equitable markets that maximize value and welfare for more people.

Key Takeaways: 

• People value money differently: People have different subjective valuations of money based on their own circumstances and financial well-being. $100 means something much different to the CEO of a large, successful corporation than it does to a family on the brink of eviction.
• Market distortions can be warranted: For some goods and services, price controls or subsidies can be more efficient than a free market at allocating resources and benefiting those with less wealth.
• Real-world application: From ridesharing to concert tickets, Akbarpour shares how theoretical economics can be applied to address inequality and improve society.

More Resources:

Mohammad Akbarpour

Voices profile, Mohammad Akbarpour, "In some ways, all of academia hinges on this receptiveness to having your mind changed."

Akbarpour's research in Stanford GSB Insights:

• What If Markets Maximized Both Efficiency and Fairness?
• Rigged Auctions? Why Top Bidders Don’t Always Feel Like Winners
• A Beautiful Application: Using Economics to Make Kidney Exchanges More Efficient and Fair
• Is It Ever OK to Sell (or Buy) a Kidney?
• Are Influencers Overrated?

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Brian Lowery, the Walter Kenneth Kilpatrick Professor of Organizational Behavior at Stanford Graduate School of Business and the author of Selfless: The Social Creation of You, argues that identity is about much more than external characteristics, family history, or the collection of experiences that compose the chronology of our lives. In fact, Lowery argues, our identities are constantly being formed, shifted, and even co-created — by the people around us. 

In this episode, Lowery breaks down how leaders, colleagues, and even casual acquaintances influence the people we are continually becoming — and why recognizing this can change our lives and how we experience the people we know. Understanding this social conception of the self helps us effectively navigate challenges at home and in the workplace, strengthen key relationships, and even bridge political divides.

“All these constraints that you feel, maybe those are imaginary,” Lowery says. “The world opens to you, I think, if you believe this, but that is also what's terrifying about it. What's exciting is what's terrifying.”

Has someone in your life changed how you see yourself? Tell us more at ifthenpod@stanford.edu.

This conversation was recorded on November 13, 2024.

Related Content:

• Brian Lowery faculty profile
• A Provocative Theory of Identity Finds There is No “You” in Self
• Let’s Make a Deal: Negotiation Tips from the Experts
• Quick Thinks: How Others Define Us
• Janet Varney

Chapters:

• (00:00:00) - Improv is a Team Sport
• (00:04:20) - Rethinking the Self
• (00:05:16) - Leadership and Influence
• (00:07:30) - The Leadership Experiment
• (00:11:55) - Trust in the Workplace
• (00:14:24) - Polarization and Social Identity
• (00:18:33) - The Influence of Proximity
• (00:20:55) - Changing Identities
• (00:24:38) - Conclusion

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If we want to get fair outcomes, then we need to build fairness into algorithms.

Whether you’re looking for a job, a house, or a romantic partner, there’s an app for that. But as people increasingly turn to digital platforms in search of opportunity, Daniela Saban says it’s time we took a critical look at the role of algorithms, the invisible matchmakers operating behind our screens.

Saban is an Associate Professor of Operations, Information & Technology at Stanford Graduate School of Business whose research interests lie at the intersection of operations, economics, and computer science. With algorithms significantly influencing who gets matched with opportunities, she advocates for building “equity into the algorithm.”

In this episode of If/Then: Business, Leadership, Society, Saban explores how properly designed algorithms can improve the fairness and effectiveness of matching processes. If we want algorithms to work for good, then we need to make conscious choices about how we design them.

Key Takeaways: 

• Algorithms shape online experiences and real-world outcomes: On dating apps, volunteer matching services, and job websites, algorithms play a crucial role in matching people with opportunities. While these matchups are facilitated in the digital domain, they impact real people in the real world.

• Algorithms are not neutral: Algorithms reflect the values and priorities of their designers and have the power to either perpetuate or mitigate inequities.

• Thoughtful algorithm design can improve outcomes for all: Saban's research demonstrates that algorithms can be optimized to create more balanced and successful matching experiences. By consciously choosing to prioritize fairness and equity in algorithm design, we can create systems that work for the good of all users.

More Resources:

• Daniela Saban, Stanford GSB faculty profile
• Stanford GSB Insights, "Cupid’s Code: Tweaking an Algorithm Can Alter the Course of Finding Love Online"
• "Improving Match Rates in Dating Markets Through Assortment Optimization" as published in Manufacturing & Service Operations Management

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. Each episode features an interview with a Stanford GSB faculty member.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The pen may be mightier than the sword — but the dollar beats them both. Economic leverage has long shaped the world order, and today global powers use financial networks, trade policies, and sanctions as tools of persuasion — or coercion. 

In this episode, Matteo Maggiori, the Moghadam Family Professor of Finance at Stanford Graduate School of Business, outlines why he believes the U.S. dollar remains the world’s financial backbone, why China wants to create an alternative, and how global financial networks serve as both tools of economic statecraft and sources of financial instability in an increasingly multipolar world.

This episode features Paula Findlen, the Ubaldo Pierotti Professor of History at Stanford University. 

How do you feel about a future where the buck no longer stops with the U.S.?? Email us at ifthenpod@stanford.edu. 

Related Content:

• Matteo Maggiori faculty profile
• “Geoeconomics” Explains How Countries Flex Their Financial Muscles
• Quick Study: China’s Plan to Challenge the Dollar
• Inside China’s Long March Toward Challenging the Dollar

This conversation was recorded on September 5, 2024.

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If we want to seriously address the climate crisis, then we need to encourage foolish business ideas.

When it comes to seemingly impossible problems like the climate crisis, Professor William Barnett says we need to reach for equally impossible solutions — ideas so crazy, they just might work. “Foolishness,” he says, “is the price of genius.”

A professor of organizational behavior at Stanford Graduate School of Business and a professor at the Stanford Doerr School of Sustainability, Barnett is equally interested in how organizations produce innovation. According to him, organizations need to embrace failure as a stepping stone to big breakthroughs and create cultures that encourage unconventional and even "foolish" ideas. “Ideas might well be foolish, but if they're right, they're going to be genius. Organizations that create lots of foolishness also create a lot of genius.”

In this episode of If/Then: Business, Leadership, Society, Barnett unpacks how farfetched thinking could be the key to addressing climate change, and how organizations can foster the cultures necessary to fail forward and find innovative solutions.

Key Takeaways:

• Failure is a stepping stone to innovation: Each unsuccessful attempt provides an opportunity to learn, grow, and redirect.
• Foolishness is the price of genius: Organizations need to promote non-consensus thinking and risk-taking, even if that means pursuing ideas that initially seem "foolish."
• Minimize the effects of failure: Give crazy ideas a shot, but do so at a small scale to keep failures quick and inexpensive.

More Resources: 

William P. Barnett, The Thomas M. Siebel Professor of Business Leadership, Strategy, and Organizations at Stanford Graduate School of Business and professor at the Stanford Doerr School of Sustainability.

• The Red Queen Among Organizations: How Competitiveness Evolves, by William P. Barnett
• Voices of Stanford GSB faculty, William P. Barnett

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Unless you’re a CPA or own a large business, it might be hard to see the relevance of accounting. While it’s true that the average person doesn’t necessarily need to be able to read a corporate balance sheet, Professor Ed deHaan says a deeper understanding of accounting — a greater fluency in the “language of business” — can help everyone get a grip on their finances and make more empowered decisions for their lives.

deHaan is a professor of accounting at Stanford Graduate School of Business. In this episode of If/Then: Business, Leadership, Society, he explores why accounting principles are crucial given money's centrality across personal and professional domains, and how by proactively fostering financial literacy, we can empower a generation of informed consumers and leaders equipped to harness money as a force for good.

Key Takeaways: 

• Financial education should start early: deHaan advocates for teaching middle and high school students fundamental money management skills like understanding credit, interest, and risk. By equipping youth with financial knowledge before they face major decisions, we can set them up for long-term success and empowerment.

• Approach financial choices rationally: deHaan encourages individuals to cultivate an "economic lens" when making money decisions. This means objectively weighing not just immediate costs, but opportunity costs and long-term trade-offs too. In evaluating what to do with your money, he suggests asking: Would you advise a family member to do the same thing with theirs?

• Financial institutions have a systematic advantage: deHaan warns that financial service providers, like casinos, inherently have the upper hand over consumers. Lack of transparency and human biases like overconfidence often lead to predictable wealth transfers from individuals to financial institutions. Combatting this requires proactive financial education, regulatory protections, and individuals staying vigilant and informed.

More Resources:

• Ed deHaan, faculty profile
• "On a Mission to Teach the World the Basics of Personal Finance"
• "The Hidden Costs of Clicking the “Buy Now, Pay Later” Button"
• "Retail Investors Are Making Simple — Yet Costly — Mistakes When Trading Corporate Bonds"

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. Each episode features an interview with a Stanford GSB faculty member.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

If we want to make better decisions, then we need to think more like an artist.

Rationality is often seen as the gold standard when it comes to making decisions, but Professor Baba Shiv prompts us to consider: “Is a good decision based on reason? Or is it based on emotion?”

Shiv is the Sanwa Bank, Limited, Professor of Marketing at Stanford Graduate School of Business. Throughout his career, he’s researched how brain structures related to emotion and motivation affect the choices we make. “Emotions, these instinctual brain-body systems, have a profound influence on our decisions and we aren’t aware of it,” he says. Even when we think we’re rationally deliberating about a decision, Shiv’s research reveals that our conscious minds are often “simply rationalizing what the emotional brain has already decided to do.”

In this episode of If/Then: Business, Leadership, Society, Shiv explains why emotion can be just as powerful as rationality in helping guide decisions, and why, if we want to make better decisions, then we need to think more like an artist.

Key Takeaways: 

• Emotions drive decision-making: Human decision-making is much less rational than we think. Shiv emphasizes that emotions and instinctual brain-body systems operate at a nonconscious level to shape the choices we make.
• Decision confidence rooted in emotion: “Decision confidence,” Shiv says, is the conviction that we’ve made the right choice. That feeling, crucial for commitment to a chosen course of action, is fundamentally rooted in emotion.
• Balancing rationality and emotion: Both the scientific and artistic minds play into decision-making. While rationality and data-driven approaches have their place, incorporating emotional aspects, akin to thinking like an artist, can lead to more meaningful and confident decisions.

More Resources:

Baba Shiv is The Sanwa Bank, Limited, Professor of Marketing at Stanford Graduate School of Business.

1. Class Takeaways - The Frinky Science of the Human Mind
2. Voices of Stanford GSB faculty, Baba Shiv

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this episode of If/Then, we're diving into insights from three GSB experts featured on Think Fast, Talk Smart. Join us as professor of organizational behavior Michele Gelfand explains her "tight and loose" cultural framework, revealing how societal structures impact everything from crime rates to creativity. We also hear from marketing professor Jonathan Levav, who explores decision fatigue in judicial settings, shedding light on how mental depletion influences choices. Finally, marketing professor Szu-chi Huang discusses the role of motivation and emotionality in decision-making, drawing from her experiences in advertising and academia. Together, these discussions provide a multifaceted view of the elements influencing our choices and interactions.

Key Takeaways:

• Switch between “tight” and “loose” mindsets: Individuals can code switch between “tight” and “loose” mindsets depending on the setting. You can shape your environment to help promote certain mindsets.
• Take mental breaks: Decision fatigue causes individuals to make the easier decision, not necessarily better ones. Taking breaks can help replenish your mental energy to think through decisions properly.
• Target your audience’s emotional needs: Emotion drives decision making. Messaging that meets emotional needs is more impactful.

More Resources:

• Michele Gelfand, faculty profile
• Jonathan Levav, faculty profile
• Szu-chi Huang, faculty profile
• Think Fast Talk Smart 

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. For a full transcript of this episode, visit our podcast’s website.

Chapters: 

(00:00:00) Introduction

Kevin Cool introduces the episode featuring GSB faculty discussing their research on the Think Fast, Talk Smart podcast.

(00:00:35) Cultural Tightness vs. Looseness

The benefits of "tight" versus "loose" culture.

(00:03:47) Adjusting to Different Cultural Norms

Whether individuals can adapt to cultural tightness or looseness.

(00:05:24) Decision Fatigue in Court Settings

A study on how decision fatigue affects parole rulings over time.

(00:07:29) Communication to Combat Decision Fatigue

Insights into overcoming decision fatigue and enhancing communication.

(00:09:48) The Roots of Motivation

The transition from advertising to studying motivation in academia.

(00:11:13) Needs and Emotions in Decision-Making

The influence of needs and emotions in effective decision-making.

(00:13:43) Conclusion

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If we can manage our emotions about AI, then it can be a powerful decision-making tool. 

Artificial intelligence’s surge in power and accessibility has inspired polarized reactions. Some people are flocking to the technology with feverish excitement. Others can’t stay far enough away. Yet according to Kuang Xu, both of these responses might be the wrong ones.

"When people hear ‘AI,’ their brain kind of shuts down,” says Kuang, an associate professor of operations, information, and technology at Stanford Graduate School of Business. Whether someone feels exhilarated by the possibilities of AI or terrified by its uncertain impact, Kuang says these emotionally charged reactions are like “a fight or flight response,” inhibiting our ability to make good decisions. 

Yet when implemented in strategic ways, AI can enable leaders to make decisions that are driven by data. With just a few simple lines of code, data becomes a powerful tool for businesses to leverage. “What decision can you change if you had the information?” Kuang asks. “Remember, at the moment, AI or data science is all about information. At the end of the day, even in the best case, you have to take that information and do something about it.” 

It’s clear that artificial intelligence will integrate into every industry. Yet to harness its power, leaders need to make an emotional shift. They must, as this episode of If/Then: Business, Leadership, Society explores, move away from the fear of the change AI will bring, and instead see AI for the job it can do: provide data so leaders can make more informed decisions.

Key Takeaways:

• Effects of emotional stress: Emotional stress clouds our decision making about how we can best implement this tool.
• AI is a Tool, not a god: Organizations need to rise above the narrative that AI is an all-knowing oracle and reframe it as a tool for targeted decision-making.
• Think of AI as an intern: The tool can carry out tasks, but we still want to double check its work. 

More Resources: 

Kuang Xu, Associate Professor of Operations, Information & Technology

Stanford GSB stories featuring Kuang Xu:

• Class Takeaways - Data Science and AI Strategy
• Is Your Business Ready to Jump Into A.I.? Read This First.
• Kuang Xu Voices

If/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society. Each episode features an interview with a Stanford GSB faculty member.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.