Building Business Foresight Capabilities

Rahul Kapoor, Management, The Wharton School; Xavier Mundet Ciriza

Abstract: The objective of this research is to study how organizations can develop superior business foresight capabilities, defined as capabilities to develop accurate beliefs about future business opportunities and threats in an industry undergoing significant disruptive change. These capabilities will be embedded among people and processes that will include the use of Artificial Intelligence (AI) technologies such as Large Language Models (LLMs). The research will be carried out in partnership with a global multinational healthcare firm, and will involve forecasting tournaments and experimental designs involving different types of organizational contexts (e.g., crowds, teams, individuals with different expertise).