mit sloan executive education

• Courses for Individuals

Advanced Management Program

Management and Leadership

Certificate Credits

- Digital Business & IT

- Entrepreneurship

- Financial Management

- Global Economics & Markets

- Operations

- Organizations & Leadership

- Strategy & Innovation

- Systems Thinking

• Participants

Course Highlights

• Partake in a month-long in-person course on MIT campus and in Kendall Square
• Network with global senior executives
• Participate in interactive sessions, management simulations, team building exercises, 1:1 leadership coaching, individual feedback assessments, meetings with MIT labs and local companies, and more
• Earn an Advanced Certificate for Executives (ACE), which confers MIT Sloan Affiliate Alumni status

Course Snapshot

Why attend MIT's Advanced Management Program (AMP) ?

Are you an experienced executive at an inflection point in your career? Perhaps you’re preparing to move into a C-suite role or thinking of embarking on an entrepreneurial venture. Are you looking to broaden your global perspective by exchanging success stories (and failures) with peer executives and entrepreneurs from around the world? Are you a progressive leader who is ready to be challenged and to challenge others? Are you ready to grow your network and forge deep, lasting relationships you never thought possible in five short weeks? Then the MIT Sloan Advanced Management Program may be right for you.

AMP participants arrive with sky-high expectations for world-class learning and leading-edge research on a wide range of topics. But the reality is, they leave with much more. AMP alumni take away actionable plans for managing complex, multi-dimensional organizations in volatile, uncertain markets. They return home with renewed energy, a toolbox of new skills and frameworks, a new leadership vision, and a readiness to make a difference in their companies and in the world. They take with them a global network of unparalleled leaders and the lifelong friendships that they forged here at MIT.

During the five weeks, participants benefit from:

• Exposure to MIT Sloan’s world-class faculty and their latest research
• Access to the extraordinary innovation ecosystem within and around MIT, including company visits, and tours of labs and centers
• Ongoing challenges to their thinking, leadership style, biases, and expectations of themselves and others
• Time and resources to focus on personal projects and initiatives
• Opportunities to form profound connections with participants and program alumni

Course Experience

MIT Sloan welcomes a select group of experienced executives to an intense, transformative learning experience on campus and in the heart of what is often referred to as “the most innovative square mile on the planet.” Designed to fit the time constraints of seasoned, mid-career executives, the Advanced Management Program runs for 5 consecutive weeks. Limited to a maximum of 42 participants, the program is intentionally diverse, representative of global points of view. Executives in the program may or may not have an advanced degree but all have rich work experience, including P&L responsibility and significant international experience. In line with the MIT Sloan mission, all participants have the ambition and desire to advance management practices and make a broader impact in their organizations and the world.

AMP participants will engage in:

• Custom learning components led by MIT’s world-renowned faculty
• Interactive classroom sessions
• Management simulations
• Case studies
• 360° feedback and 1:1 leadership coaching
• Individualized feedback assessments
• Team-building experiences
• Action learning projects
• Executive panels

Participants will also explore the many companies, labs and centers that make MIT and surrounding Kendall Square the epicenter of innovation worldwide.

Learn more about the in-person course experience.

Alumni Gathering Advanced Management Program alumni are invited back to campus for 2 days each June to reconnect with their peers and the MIT community. A themed agenda will bring the group together with current participants to network, learn, and share experiences.

Read more about Birgit Girshick's experience . 

Sample Schedule—Subject to Change

Are you a good candidate for the Advanced Management Program? The Advanced Management Program (AMP) is an intense and demanding experience limited to 42 participants. The best AMP candidates are seasoned executives who carry significant leadership roles in their companies. All the key elements of the AMP experience—the professors, their content, the scope of the project work, 1-on-1 leadership coaching, simulations, etc. are designed specifically for:

• Seasoned executives with significant leadership roles in their companies as general managers, leaders of functions or business lines, and who have direct responsibility for profit/loss
• Senior leaders with an advanced degree and 15–20 years of work experience, across several different functions and business lines
• Global citizens with significant international exposure yet fluency in written and spoken English
• Those with an urgent agenda for change with support from employer and family to step away for five committed weeks

Why your company should sponsor employees to attend MIT’s AMP:

Sponsoring your top-tier executives to attend MIT’s Advanced Management Program (AMP) is a unique opportunity to maximize the impact of executive education in your organization.

The guiding ethos of the AMP is to empower experienced executives to bring about substantive and transformative changes, not just within their respective organizations but on a global scale. By nurturing your talent through such a program, you can equip them with the capabilities to navigate your company through complex challenges, making your team more agile, innovative, and forward-thinking.

We also hope you will give special consideration to women and people of color in your organization. Research shows that women and minority professionals are less likely to nominate themselves for such opportunities. We are committed to accepting a diverse and inclusive cohort that reflects a range of perspectives and experiences. In fact, the small and diverse cohort of peers is part of what makes this program so unique and so valuable.

If you are seeking extraordinary learning experiences for your high performing professionals, here are a few ways in which MIT’s AMP stands apart:

• Tailored learning experience: AMP is not just a theoretical course; it provides practical tools, granting participants direct access to renowned faculty, coaches, industry leaders, and alumni. This ensures your employees can contextualize the latest management paradigms and frameworks to your specific industry and company challenges.
• Cutting-edge insights: With the corporate landscape evolving rapidly, especially in areas like fintech, blockchain, cybersecurity, and digital transformation, AMP ensures your team stays ahead of the curve.
• Holistic skill development: Beyond just insights, the program offers extensive training in pivotal areas such as leadership, change management, strategy, innovation, and technology, among others. These skills are paramount in today's volatile business environment.
• Experiential learning: AMP is not confined to the classroom. Participants will also engage with the MIT and Boston/Cambridge innovation ecosystem, including visits to companies, labs, and incubators. Such experiences provide invaluable real-world insights and connections.
• Global networking: AMP is a congregation of bright minds from across the globe. Your employees will not only learn from the course but also from their international peers, fostering a unique sense of belonging and building a vast professional network.

But don’t take our word for it … AMP participants frequently share feedback about their AMP experience and its impact on their role and company. Here is what a few of these executives have to say:

“AMP equipped me with the capabilities I need to lead and manage organizations. I learned from world-class faculty and networked with accomplished professionals, which gave me a new perspective on leadership and management. I am now better equipped to make strategic decisions, build high-performing teams, and drive innovation.” — Andrés R.

“It was important to me that I wasn’t repeating business school again. I wanted to dive into those issues that keep leaders up at night. And I wanted to be able to bring real takeaways back to my company … I challenge my peers and team members differently now. I don’t make decisions for them anymore. I have more tools to suggest how they can think about their work differently and how we can challenge each other to solve problems and get to the answers.” — Birgit G.

“We have been going through some exciting transformations within our company. I felt like MIT rewired my brain just in time for me to come back and really delve into what needed to be done. Every day I spent on the Cambridge campus was literally preparing me with tools that I use every day now." — Terence L.

The knowledge, skills, and connections participants acquire in AMP have the potential to yield exponential returns for your company. We hope you will consider sponsoring senior leaders to partake in this once-in-a-lifetime experience at MIT.

Use this template letter as a starting point for requesting your organization's approval to attend AMP.

Applied Business Analytics

Deliver better business outcomes using big data

Get Your Brochure

August 13, 2024

6 weeks, online 4-6 hours per week

PROGRAM FEE

For your team.

Enroll your team and learn with your peers

Learn together with your colleagues

Participants report that enrolling in a program with colleagues fosters collaborative learning and amplifies their impact.

Please provide your details to get more information about the group-enrollment pricing.

The benefit of learning together with your friend is that you keep each other accountable and have meaningful discussions about what you're learning.

Congratulations!

Based on the information you provided, your team is eligible for a special discount, for Applied Business Analytics starting on August 13, 2024 .

We’ve sent you an email with enrollment next steps. If you’re ready to enroll now, click the button below.

Develop Future-Ready Skills Today

Emeritus is collaborating with MIT Sloan Executive Education to help you build future-ready skills. Enroll before and get up to 15% tuition assistance along with a  complimentary  1-year Wall Street Journal subscription.

Application Details

Tuition assistance is live as per below schedule. The full program fee is US$2950 as of the start date.

program fee

Garner in-demand skills.

In this six-week program, you will be able to:

• Apply analytics to a wide range of business applications.
• Select and apply the appropriate algorithm for a given business scenario.
• Lead teams and design deliverables using analytics problem-solving.
• Establish workflows, identify interdependencies, and utilize human judgment while managing the analytics process.

Why Study Business Analytics?

MIT Sloan Executive Education's Applied Business Analytics online program is designed to bridge the gap between the needs of working professionals and the accessibility of analytical models and tools. Take this opportunity to use data to improve decision-making.

US$130.95 billion

The business analytics market size is expected to reach US$130.95 billion in the next five years, registering a CAGR of 8.07 percent during the forecast period.

SOURCE: MORDOR INTELLIGENCE

of businesses cite the need to manage unstructured data as a problem for their business.

SOURCE: Forbes

Highly data-driven organizations are three times more likely to report significant improvements in decision making compared to those who rely less on data.

SOURCE: PwC

Who should attend.

This online program is ideal for managers and leaders who want to turn data into a competitive advantage by advancing their analytics skills. Participants will learn how to decide which is the best tool for their challenge, and how to apply different models. Participants come from a broad range of industries, job functions, and management levels. Past participants of this program include:

• Senior executives who strive to leverage data for competitive advantage and build out analytics capabilities in their organizations.
• Functional managers and business heads who want to advance their analytics skills and manage data analyst teams more effectively by asking better questions.
• Data and Business Analysts who want to deepen their understanding of how to apply analytics tools to common business challenges, such as predicting customer preferences and trends.
• Consultants who need to dig deeper into their client's data in order to make better recommendations and speak the same language as data analysts.

Your Learning Experience

Apply descriptive, predictive, and prescriptive tools to real-world case studies and examples.

Download a template for your team's business analytics project plan.

Learn from world-renowned MIT faculty.

Discuss learnings and industry trends with a cohort of peers at the top of their fields.

Bit-Sized Learning

Active support from program Learning Facilitators.

Weekly Q&A through live office hours with Learning Facilitators, and experts in this subject matter.

Program Modules

Learn how to predict customer preferences through data grouping. Discover the principles for driving improved customer satisfaction and retention using Netflix’s movie recommendation engine.

Analyze how the Oakland A's use data analytics to outperform talent scouts in player selection and delve into the Framingham Heart Study's role in improving public health through predictive analytics for heart disease risk assessment.

Explore real estate tech strategies using the historic Boston data set and analytics tools that help predict Supreme Court decisions, highlighting their potential to outperform experts.

Explore healthcare system’s high-risk patient identification and intervention strategies for improved outcomes. Additionally, delve into natural language processing to classify tweets for enhanced understanding of Apple's customer sentiment.

Explore deep learning for number recognition within the Data-Models-Decisions-Value framework. Enhance operational efficiency using machine learning and decision tools in inventory management.

Analyze data to assist the CFO of a fictitious organization in transitioning to a high-tech focus while maximizing net present value. Examine an airline’s fleet insurance policy optimization through simulations.

Learn from the Best at MIT Sloan

Dimitris Bertsimas

Boeing leaders for global operations professor of management, professor of operations research, associate dean for the master of business analytics.

Dimitris Bertsimas Boeing Leaders for Global Operations Professor of Management, Professor of Operations Research, Associate Dean for the Master of Business Analytics A faculty member since 1988, his research interests include optimization, stochastic systems, machine learning, and their application. In recent years, he has worked in robust optimization, statistics, healthcare, transportation, and finance. Bertsimas was a cofounder of Dynamic Ideas, LLC, which developed portfolio management tools for asset management. In 2002, the assets of Dynamic Ideas were sold to American Express. He is also the founder of Dynamic Ideas Press, a publisher of scientific books, the cofounder of Benefits Science, a company that designs health care plans for companies, of Dynamic Ideas Financial, a company that provides financial advice to customers, of Alpha Dynamics, an asset management company, P2 Analytics, an analytics consulting company and of MyA Health, a personalized health care advice company. Bertsimas has coauthored more than 200 scientific papers and books, including The Analytics Edge (with A. O'Hair and W. Pulleyblank, Dynamic Ideas, 2016). He is former department editor of Optimization for Management Science and of Operations Research in Financial Engineering. A member of the National Academy of Engineering and an INFORMS fellow, he has received numerous research awards, including the Harold Larnder Prize (2016). He has also received recognition for his educational contributions: The Jamieson prize (2013) and the Samuel M. Seegal prize (1999). Bertsimas holds a BS in electrical engineering and computer science from the National Technical University of Athens, Greece, as well as an MS in operations research and a PhD in applied mathematics and operations research from MIT.

Hear from our past learners

I loved that the program focused on how the models applied to leadership decisions. It allows the leader to sit in a meeting and process every word the data scientist might say. I also really enjoyed the virtual meetings as they helped further my understanding of key topics.

This course offered me a window into the world of applied business analytics, which prior to this course, I had very little experience with. I’m very pleased to have taken it as the content and instructors made the topics approachable and allowed me to wrap my head around data in the business world. Specifically, I took away lessons on where to push back on the data, how to question it, and what different kinds of analysis are common practice. It touched on many subjects but didn’t get so far into the weeds that I couldn’t keep up. That said, the content is there if you do want to dig deep as many of my cohorts were well versed in data compared to myself. I would recommend this course to anyone looking to expand their knowledge on the subject, regardless of prior experience.

Case Studies

How data analytics built a movies-you'll-love feature

Mining Tweets to understand customer sentiment at Apple

Framingham Heart Study

How to save lives by predicting heart disease

Boston Real Estate

Leverage a historic Boston real estate data set to predict values

Corporate Strategy

Use an optimization model to maximize net present value and steer the corporate strategy

Inventory Management

Machine learning techniques work to improve operational performance

Earn a Certificate from MIT Sloan

Receive a verified digital certificate of completion from MIT Sloan School of Management. This program also counts toward an MIT Sloan Executive Certificate .

After successful completion of the program, your verified digital certificate will be emailed to you, at no additional cost, in the name you used when registering for the program. All certificate images are for illustrative purposes only and may be subject to change at the discretion of MIT Sloan.

How do I know if this program is right for me?

After reviewing the information on the program landing page, we recommend you submit the short form above to gain access to the program brochure, which includes more in-depth information. If you still have questions on whether this program is a good fit for you, please email [email protected], and a dedicated program advisor will follow-up with you very shortly.

Are there any prerequisites for this program?

Some programs do have prerequisites, particularly the more technical ones. This information will be noted on the program landing page, as well as in the program brochure. If you are uncertain about program prerequisites and your capabilities, please email us at the ID mentioned above.

Note that, unless otherwise stated on the program web page, all programs are taught in English and proficiency in English is required.

What is the typical class profile?

More than 50 percent of our participants are from outside the United States. Class profiles vary from one cohort to the next, but, generally, our online certificates draw a highly diverse audience in terms of professional experience, industry, and geography — leading to a very rich peer learning and networking experience.

What other dates will this program be offered in the future?

Check back to this program web page or email us to inquire if future program dates or the timeline for future offerings have been confirmed yet.

How much time is required each week?

Each program includes an estimated learner effort per week. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page.

How will my time be spent?

We have designed this program to fit into your current working life as efficiently as possible. Time will be spent among a variety of activities including:

• Engaging with recorded video lectures from faculty
• Attending webinars and office hours, as per the specific program schedule
• Reading or engaging with examples of core topics
• Completing knowledge checks/quizzes and required activities
• Engaging in moderated discussion groups with your peers
• Completing your final project, if required

The program is designed to be highly interactive while also allowing time for self-reflection and to demonstrate an understanding of the core topics through various active learning exercises. Please email us if you need further clarification on program activities.

What is it like to learn online with the learning collaborator, Emeritus?

More than 300,000 learners across 200 countries have chosen to advance their skills with Emeritus and its educational learning partners. In fact, 90 percent of the respondents of a recent survey across all our programs said that their learning outcomes were met or exceeded. All the contents of the course would be made available to students at the commencement of the course. However, to ensure the program delivers the desired learning outcomes the students may appoint Emeritus to manage the delivery of the program in a cohort-based manner the cost of which is already included in the overall course fee of the course. A dedicated program support team is available 24/5 (Monday to Friday) to answer questions about the learning platform, technical issues, or anything else that may affect your learning experience.

How do I interact with other program participants?

Peer learning adds substantially to the overall learning experience and is an important part of the program. You can connect and communicate with other participants through our learning platform.

What are the requirements to earn the certificate?

Each program includes an estimated learner effort per week, so you can gauge what will be required before you enroll. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page. All programs are designed to fit into your working life. This program is scored as a pass or no-pass; participants must complete the required activities to pass and obtain the certificate of completion. Some programs include a final project submission or other assignments to obtain passing status. This information will be noted in the program brochure. Please email us if you need further clarification on any specific program requirements.

What type of certificate will I receive?

Upon successful completion of the program, you will receive a smart digital certificate. The smart digital certificate can be shared with friends, family, schools, or potential employers. You can use it on your cover letter, resume, and/or display it on your LinkedIn profile. The digital certificate will be sent approximately two weeks after the program, once grading is complete.

Can I get the hard copy of the certificate?

No, only verified digital certificates will be issued upon successful completion. This allows you to share your credentials on social platforms such as LinkedIn, Facebook, and Twitter.

Do I receive alumni status after completing this program?

No, there is no alumni status granted for this program. In some cases, there are credits that count toward a higher level of certification. This information will be clearly noted in the program brochure.

How long will I have access to the learning materials?

You will have access to the online learning platform and all the videos and program materials for 12 months following the program start date . Access to the learning platform is restricted to registered participants per the terms of agreement.

What equipment or technical requirements are there for this program?

Participants will need the latest version of their preferred browser to access the learning platform. In addition, Microsoft Office and a PDF viewer are required to access documents, spreadsheets, presentations, PDF files, and transcripts.

Do I need to be online to access the program content?

Yes, the learning platform is accessed via the internet, and video content is not available for download. However, you can download files of video transcripts, assignment templates, readings, etc. For maximum flexibility, you can access program content from a desktop, laptop, tablet, or mobile device. Video lectures must be streamed via the internet, and any livestream webinars and office hours will require an internet connection. However, these sessions are always recorded, so you may view them later.

Can I still register if the registration deadline has passed?

Yes, you can register up until seven days past the published start date of the program without missing any of the core program material or learnings.

What is the program fee, and what forms of payment do you accept?

The program fee is noted at the top of this program web page and usually referenced in the program brochure as well.

• Flexible payment options are available (see details below as well as at the top of this program web page next to FEE ).
• Tuition assistance is available for participants who qualify. Please email [email protected].

What if I don’t have a credit card? Is there another method of payment accepted?

Yes, you can do the bank remittance in the program currency via wire transfer or debit card. Please contact your program advisor, or email us for details.

I was not able to use the discount code provided. Can you help?

Yes! Please email us with the details of the program you are interested in, and we will assist you.

How can I obtain an invoice for payment?

Please email us your invoicing requirements and the specific program you’re interested in enrolling in.

Is there an option to make flexible payments for this program?

Yes, the flexible payment option allows a participant to pay the program fee in installments. This option is made available on the payment page and should be selected before submitting the payment.

How can I obtain a W9 form?

Please connect with us via email for assistance.

Who will be collecting the payment for the program?

Emeritus collects all program payments, provides learner enrollment and program support, and manages learning platform services.

Are there any restrictions on the types of funding that can be used to pay for the program?

Program fees for Emeritus programs with MIT Sloan Executive Education may not be paid for with (a) funds from the GI Bill, the Post-9/11 Educational Assistance Act of 2008, or similar types of military education funding benefits or (b) Title IV financial aid funds.

What is the program refund and deferral policy?

For the program refund and deferral policy, please click the link here .

Didn't find what you were looking for? Write to us at [email protected] or Schedule a call with one of our Program Advisors or call us at +44 150 730 4811 (UK) / +1 401 264 8575 (US) / +65 3138 5193 (SG)

Early registrations are encouraged. Seats fill up quickly!

Flexible payment options available. Learn more.

MIT Sloan Executive Education

Providing business professionals from around the world with a targeted and flexible means to advance their career development goals

Programs & Opportunities

• Courses: Open enrollment, executive development programs are offered in three areas of concentration, which address the business needs and goals of executives worldwide: Strategy and Innovation; Technology, Operations, and Value Chain Management; and Management and Leadership.
• Certificates: Professional certificate programs run throughout the year and are typically two days to one week in duration.

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Cybersecurity at MIT Sloan

Interdisciplinary consortium for improving critical infrastructure cybersecurity, (ic) 3, cybersecurity at mit sloan in action.

Cybersecurity at MIT Sloan (CAMS) fills a critical need for leaders and managers of cybersecurity. Our activities are highlighted in our research, in the news, in our newsletters, and at our events.

"We found new ways to solve challenging problems;

Timely and advanced research from (ic) 3 has given us critical insights into issues that are existential threats to our industry” − andrew stanley, cams member and ciso of mars, incorporated.

Cybersecurity at MIT Sloan's Executive Education Program

We are delighted to share with you that Cybersecurity at MIT Sloan’s acclaimed Executive Education programs are available for you and your colleagues! A three-day live online program will teach non-cybersecurity executives the basics they need to know to help your organization be more cyber-resiliant. And the 6-week virtual program is perfect for non-cybersecurity leaders who want to understand basic concepts of cybersecurity leadership from their own desk. For more information, please visit MIT’s executive education website  or  sign up today .

4 Areas of Cyber Risk That Boards Need to Address

• Align cyber risk management with business needs
• Continuously monitor the cyber risk capability performance
• Proactively anticipate the changing threat landscape
• Position security as a strategic business enabler

HBR: 7 Pressing Cybersecurity Questions Boards Need to Ask

Dr. Keri Pearlson was published in the Harvard Business Review for her paper on boards and their unique role in helping their organizations manage cybersecurity threats. The paper outlines seven questions that boards need to hear, including:

• What are our most important assets and how are we protecting them?
• How do we know if we’ve been breached & how do we detect a breach?
• What are our response plans in the event of an incident?

Asking smart questions at your next board meeting might just prevent a breach from becoming a total disaster.

What We Learned from Analyzing the Capital One Breach

CAMS Director Stuart Madnick presented research on the Capital One Breach. The 2019 Capital One breach was the result of a pervasive lack of controls from establishing an effective risk assessment to the design and implementation of their cloud migration initiative. Over 106 million people were impacted, resulting in a hefty civil penalty suit. What happened was clear, but why it happened was not. Prof. Madnick discussed how proven methodologies can help mitigate risks in organizations.

Could Electric Cars be Hacked?

Wall street journal: cybersecurity experts warn that evs will be ripe targets for hackers unless more attention is paid to the risks.

Russian Cyber Attacks and How to Prepare

Prof. Stuart Madnick published a Harvard Business Review article on what cyber warfare might be like in the near future. In addition to the HBR paper, CAMS has been interviewed on the subject in many other outlets:

• Dr. Michael Siegel was interviewed by GHB News on how to protect yourself from a Russian Cyber attack [Link]
• Fox 13 Tampa Bay on warning signs of potential cyberattacks as Russian invasion of Ukraine persists [Link]
• O Globo on how Ukraine summoned an “IT Army” against Russian cyber actions, but Moscow has not used its potential in the current war [Link] 
• Deutsche Welle (DW) on how the war highlights the vulnerabilities of critical infrastructure [Link]
• WCBV on the growing concern that Russia might launch cyberattacks against the U.S. [Link] 
• ABC News on how a possible cyberattack could affect Americans and how to prepare [Link]

Harvard Business Review features CAMS Research

CAMS published five recent articles in Harvard Business Review in 2020 and 2021:

“How to Safeguard Against Cyberattacks on Utilities” by Stuart Madnick “A Cyber Attack Doesn’t have to Sink your Stock Price” by Keman Huang and Stuart Madnick “The Tiktok Ban Should Worry Every Company” by Keman Huang and Stuart Madnick “Cyberattacks Are Inevitable. Is Your Company Prepared?” by Keri Pearlson, Brett Thorson, Stuart Madnick, and Michael Coden “Is Third-Party Software Leaving you Vulnerable to Cyber Attacks? ” by Keman Huang, Keri Pearlson, and Stuart Madnick

Why Join Cybersecurity at MIT Sloan?

Benefit from usable research! Cybersecurity at MIT Sloan (CAMS), formerly (IC) 3 , is focusing MIT’s uniquely qualified interdisciplinary faculty and researchers on the fundamental principles of cyberspace, cybercrime, & cybersecurity applied to critical infrastructure. Cybersecurity at MIT Sloan is a confidential academic forum in which leaders and managers can benefit from the experiences of CSO/CISOs across multiple sectors.

Professor Stuart Madnick, Director, [email protected] Dr. Michael Siegel, Director, [email protected] Dr. Keri Pearlson, Executive Director, [email protected]

© Copyright 2023

Cybersecurity at MIT Sloan (CAMS) Privacy Statement

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Ideas Made to Matter

Artificial Intelligence

The AI Playbook: 6 steps for launching predictive AI projects

Beth Stackpole

Jun 20, 2024

Companies are hankering for predictive analytics that promise to boost sales, cut costs, prevent fraud, and streamline operations.

Yet most organizations are failing to achieve their desired outcomes. An MIT Sloan Management Review and Boston Consulting Group study found that just 10% of companies garnered significant financial benefit from their AI investments. And in a  survey by Rexer Analytics, just 22% of data scientists said that their new initiatives are usually deployed and operationalized across the enterprise.

Many predictive machine learning projects fail because they focus too much on technology alone as opposed to advancing technology as a strategic business project, according to Eric Siegel , a consultant and former professor at Columbia University and the University of Virginia.

In his new book, “ The AI Playbook: Mastering the Rare Art of Machine Learning Deployment ,” Siegel makes the case that organizations are not seeing value from AI because they lack an effective business paradigm for running machine learning projects. Because most machine learning projects are highly technical, they often fall under the domain of experienced data science professionals. The result is a disconnect between the data experts preparing data and developing and operating AI models and the business stakeholders in charge of running large-scale operations who stand to benefit from predictive insights.

“By focusing so much on the modeling science rather than its deployment, it’s like being more excited about rocket science than the actual launch of the rocket,” Siegel said in a recent MIT Sloan Management Review webinar . “That’s where we are today.”

To boost success, Siegel said, businesses need a standardized playbook for machine learning projects that is accessible to business professionals and can help them participate in the life cycle of predictive analytics projects.

Otherwise, “both sides point to the other and say, ‘Running and managing this business-level process is not my job,’” he explains. “It rests in no-man’s-land, and that is the last remaining ingredient before we get more wide-scale success and deployment.”

6 steps for launching machine learning projects

To bridge the divide, Siegel advocates for something he calls “BizML,” a set of business practices for running predictive machine learning projects.

He outlined six steps to foster collaboration among business and technical stakeholders throughout all phases of machine learning deployment:

Establish the deployment goal. To derive any real value from machine learning, businesses need a defined value proposition that details how the technology will impact operations. Data scientists can’t do this in a vacuum. It’s important that business stakeholders who are intimately familiar with the pain points and opportunities are technologically savvy enough to participate in realistic goal setting.

Establish the prediction goal. While modeling and predication involve complex mathematics, business goals need to be kept in mind. Business users need to have a semitechnical understanding of the technology so they can share their specific domain knowledge while also defining what the machine learning model is intended to predict for each use case.

Establish the right metrics. Determine the salient benchmarks to track during both model training and model deployment. In addition, identify what performance levels must be achieved for the machine learning project to be considered a success. Typically, most machine learning projects are grounded by technical metrics such as precision, recall, or accuracy. Organizations need to shift their focus to business metrics like profit, ROI, savings, and customer acquisition, Siegel said.

Prepare the data.  Define what the training data should look like, and ensure that data is in the desired format. This critical step is nonnegotiable because it is the linchpin to experiencing high-value results, Siegel said.

Train the model.  Next, the prepared data is used to train and generate a predictive model. Data experts lead the charge here, but there is always room for additional business input.

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Deploy the model. Use the model to render predictive scores and in turn, use those scores to improve business operations. It’s also important to maintain the models through ongoing monitoring and periodic refreshing.

While the last three steps are more technical than the first three, all of them require deep collaboration between technology and business stakeholders. Building bridges to connect the two camps requires investment and engagement in the right change management practices to ensure adequate understanding of machine learning across stakeholders throughout the business.

“Change management challenges aren’t new in general, but when it comes to machine learning projects, the need to shrewdly manage change is often overlooked,” Siegel said. “Machine learning delivers a rocket, but those in charge must still command its launch.”

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MIT-Takeda Program wraps up with 16 publications, a patent, and nearly two dozen projects completed

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When the Takeda Pharmaceutical Co. and the MIT School of Engineering launched their collaboration focused on artificial intelligence in health care and drug development in February 2020, society was on the cusp of a globe-altering pandemic and AI was far from the buzzword it is today.

As the program concludes, the world looks very different. AI has become a transformative technology across industries including health care and pharmaceuticals, while the pandemic has altered the way many businesses approach health care and changed how they develop and sell medicines.

For both MIT and Takeda, the program has been a game-changer.

When it launched, the collaborators hoped the program would help solve tangible, real-world problems. By its end, the program has yielded a catalog of new research papers, discoveries, and lessons learned, including a patent for a system that could improve the manufacturing of small-molecule medicines.

Ultimately, the program allowed both entities to create a foundation for a world where AI and machine learning play a pivotal role in medicine, leveraging Takeda’s expertise in biopharmaceuticals and the MIT researchers’ deep understanding of AI and machine learning.

“The MIT-Takeda Program has been tremendously impactful and is a shining example of what can be accomplished when experts in industry and academia work together to develop solutions,” says Anantha Chandrakasan, MIT’s chief innovation and strategy officer, dean of the School of Engineering, and the Vannevar Bush Professor of Electrical Engineering and Computer Science. “In addition to resulting in research that has advanced how we use AI and machine learning in health care, the program has opened up new opportunities for MIT faculty and students through fellowships, funding, and networking.”

What made the program unique was that it was centered around several concrete challenges spanning drug development that Takeda needed help addressing. MIT faculty had the opportunity to select the projects based on their area of expertise and general interest, allowing them to explore new areas within health care and drug development.

“It was focused on Takeda's toughest business problems,” says Anne Heatherington, Takeda’s research and development chief data and technology officer and head of its Data Sciences Institute.

“They were problems that colleagues were really struggling with on the ground,” adds Simon Davies, the executive director of the MIT-Takeda Program and Takeda’s global head of statistical and quantitative sciences. Takeda saw an opportunity to collaborate with MIT’s world-class researchers, who were working only a few blocks away. Takeda, a global pharmaceutical company with global headquarters in Japan, has its global business units and R&D center just down the street from the Institute.

As part of the program, MIT faculty were able to select what issues they were interested in working on from a group of potential Takeda projects. Then, collaborative teams including MIT researchers and Takeda employees approached research questions in two rounds. Over the course of the program, collaborators worked on 22 projects focused on topics including drug discovery and research, clinical drug development, and pharmaceutical manufacturing. Over 80 MIT students and faculty joined more than 125 Takeda researchers and staff on teams addressing these research questions.

The projects centered around not only hard problems, but also the potential for solutions to scale within Takeda or within the biopharmaceutical industry more broadly.

Some of the program’s findings have already resulted in wider studies. One group’s results, for instance, showed that using artificial intelligence to analyze speech may allow for earlier detection of frontotemporal dementia, while making that diagnosis more quickly and inexpensively. Similar algorithmic analyses of speech in patients diagnosed with ALS may also help clinicians understand the progression of that disease. Takeda is continuing to test both AI applications.

Other discoveries and AI models that resulted from the program’s research have already had an impact. Using a physical model and AI learning algorithms can help detect particle size, mix, and consistency for powdered, small-molecule medicines, for instance, speeding up production timelines. Based on their research under the program, collaborators have filed for a patent for that technology.

For injectable medicines like vaccines, AI-enabled inspections can also reduce process time and false rejection rates. Replacing human visual inspections with AI processes has already shown measurable impact for the pharmaceutical company.

Heatherington adds, “our lessons learned are really setting the stage for what we’re doing next, really embedding AI and gen-AI [generative AI] into everything that we do moving forward.”

Over the course of the program, more than 150 Takeda researchers and staff also participated in educational programming organized by the Abdul Latif Jameel Clinic for Machine Learning in Health. In addition to providing research opportunities, the program funded 10 students through SuperUROP, the Advanced Undergraduate Research Opportunities Program, as well as two cohorts from the DHIVE health-care innovation program, part of the MIT Sandbox Innovation Fund Program.

Though the formal program has ended, certain aspects of the collaboration will continue, such as the MIT-Takeda Fellows, which supports graduate students as they pursue groundbreaking research related to health and AI. During its run, the program supported 44 MIT-Takeda Fellows and will continue to support MIT students through an endowment fund. Organic collaboration between MIT and Takeda researchers will also carry forward. And the programs’ collaborators are working to create a model for similar academic and industry partnerships to widen the impact of this first-of-its-kind collaboration. 

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