166. Combining Artificial Intelligence and Behavioral Economics, with Sam Albert of Behaviorally

<p><span style="font-weight: 400;">Today I am very excited to talk about something I know is a common question for many these days. It is something that I get asked a lot and what I know many see as the future of behavioral economics and the overall behavioral sciences: AI. </span></p> <p><span style="font-weight: 400;">How can AI and machine learning work with behavioral economics to help with predictive models? Do they work together at all or are they at odds? Could the industry combine these things to be more effective? Sam Albert, Chief Digital Officer at Behaviorally is here to talk about these exact questions via their very cool tool called flash.ai. </span></p> <h3><span style="font-weight: 400;">Show Notes:</span></h3> <ul> <li><span style="font-weight: 400;">[00:06] In today’s episode, I’m excited to introduce you to Sam Albert, Chief Digital Officer at Behaviorally.</span></li> <li><span style="font-weight: 400;">[02:50] Sam shares about himself, his background, and how he got into behavioral economics. </span></li> <li><span style="font-weight: 400;">[04:48] PRS changed its name to Behaviorally back in January 2021. They are really trying to understand consumer behavior and help their clients make good decisions based on that behavior. </span></li> <li><span style="font-weight: 400;">[06:45] Understanding how consumers are acting or reacting to certain stimuli in store and then what they tell you they actually would do or how they feel could be different. It is about lining those pieces up and telling one cohesive story that is going to essentially help clients to make good business decisions to move their businesses forward. </span></li> <li><span style="font-weight: 400;">[08:44] Behavioral science can pretty much be applied to every aspect of our lives and it is happening unbeknownst to us in every decision every day. </span></li> <li><span style="font-weight: 400;">[10:04] The industry is moving on this trajectory towards machine learning, more broadly leveraging AI.</span></li> <li><span style="fo