AI, as a powerful general-purpose technology, is here to stay. With broader agency and understanding (the raison d’etre of the book), individuals can be a part of the conversation in shaping it to maximize societal benefits while minimizing risks, and organizations can cut the hype to identify pathways to create new value. In this session, Professor Ghose will discuss the transformative potential of AI for society and how businesses can unlock significant value through the adoption of The House of AI Framework – a layered framework for organizations to adopt descriptive, predictive, causal, and prescriptive analytics. He will emphasize our call for a Marshall Plan equivalent to reskill the workforce for an AI augmented business and society. He will debunk several myths about Generative AI and provide use cases about novel uses of AI. Finally, Professor Ghose will also delve into the pivotal role of semiconductors in shaping geopolitical dynamics, and potential antitrust concerns in the Gen AI tech stack such as bundling, tying, market power, first-mover advantages, and foreclosure.