Ripple Effect

AI is becoming more capable at a pace that is reshaping work, learning, and everyday decision-making. The real challenge is deciding what to delegate and what remains essential for people to do themselves.

Ethan Mollick, Associate Professor of Management and Co-Director, Generative AI Labs at Wharton, explores how individuals, organizations, and policymakers can coexist with increasingly powerful AI. Drawing on his new book, Coexistence: The Next Phase of AI, Mollick explains AI’s “jagged frontier,” why banning AI at work can drive its use underground, and how people can build durable skills as the technology improves. He also discusses the risks of giving up too much control and the choices that will shape AI’s role in society.

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Immigration raids can affect far more than the people directly targeted. They can reshape how entire communities work, shop, and spend.

Exequiel (Zeke) Hernandez, Max and Bernice Garchik Family Presidential Professor at The Wharton School, discusses his research into the economic effects of ICE activity on local communities. He explains why targeted areas saw declines in foot traffic and consumer spending, why local independent businesses were hit harder than national chains, and why the damage can persist long after a raid.

Hernandez also explores how fear spreads beyond immigrant communities, why reduced in-person activity does not fully shift to online spending, and what the findings could mean for local employment, investment, and entrepreneurship.

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AI is already detecting fraud, assessing credit, and informing investment decisions. As increasingly autonomous tools enter financial markets, the central question is not only what they can do, but who is accountable for the results.

Winston Dou, Faculty Director of the Wharton AI in Finance Lab, examines how AI is reshaping financial decision-making. He discusses the potential for AI to improve information processing and investment research, why interacting AI agents could affect competition and market stability, and the human oversight needed to make the technology more reliable and accountable.

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AI companies are spending hundreds of billions of dollars on infrastructure. But can that investment deliver the productivity growth needed to pay off?

Jessica Wachter, Dr. Bruce I. Jacobs Professor in Quantitative Finance at The Wharton School, explains research estimating the scale of the productivity gains implied by today's AI investment. She discusses why the industry may need a rare productivity boom by 2028, why AI capital spending could approach $1 trillion, and how companies are racing to build data centers and computing capacity.

Wachter also examines what happens if the expected gains do not materialize, including pressure on stock prices and a higher risk of bankruptcy. She considers how AI-driven productivity could affect workers, wages, and the broader economy.

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Private credit funds promise investors access to their money, but that promise can be difficult to keep when many people want to cash out at once.

Itay Goldstein, Wharton Professor of Finance, explains why private credit funds that invest in illiquid assets can face a dangerous mismatch between investor redemptions and the cash they have available. He discusses the recent pressure on funds with exposure to software companies, how concerns about AI have affected investor sentiment, and why declining inflows can magnify a liquidity crunch.

Goldstein also explores what funds mean when they describe themselves as liquid, the risks of offering semi-liquid products to retail investors, and how clearer product design could help investors better understand when and how they can access their money.

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The best opportunities at work do not always go to the most qualified person.

Judd Kessler, Howard Marks Endowed Professor and Wharton Professor of Business Economics and Public Policy, explores the hidden rules that determine who gets scarce workplace resources, from a manager's attention to high-profile assignments and professional development. He explains how employees can better navigate these systems and how leaders can design rules that are more equitable and effective.

The conversation also highlights Lucky by Design: How to Navigate Hidden Markets, a Wharton Executive Education course taught by Kessler that applies these ideas to real workplace decisions. Learn more at Wharton Executive Education.

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Can the United States build enough power infrastructure to sustain the AI boom?

Serguei Netessine, Wharton's Senior Vice Dean for Innovation and Global Initiatives, examines the unprecedented electricity demand created by AI data centers and hyperscalers. He explains how rapid growth in computing power is testing an aging grid, reshaping infrastructure investment, and raising urgent questions about energy policy.

Netessine also explores the potential role of energy storage, flexible computing, utility regulation, and industrial electricity pricing. He considers what happens when data centers build their own power supply and why coordinated action is essential for the United States to remain competitive in AI.

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Back-to-school shopping is more than a checklist; it is a ritual shaped by identity, nostalgia, family decisions, and economic pressure.

Patti Williams, an associate professor of marketing at the Wharton School, explains why the back-to-school season matters so much to parents, students, retailers, and manufacturers. She discusses how families make purchasing decisions, why this shopping period feels emotionally meaningful, and how retailers prepare for one of the most reliable moments on the retail calendar.

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Consumers are still spending, but their priorities are changing.

Barbara Kahn, Patty and Jay H. Baker Professor of Marketing at the Wharton School of the University of Pennsylvania, explains why retail sales remain resilient despite inflation and economic uncertainty.

She explores the growing demand for value, wellness, and memorable experiences, the challenges facing aspirational luxury brands, and the uneven performance of shopping malls. Kahn also discusses how retailers can respond to changing consumer behavior while managing inventory, debt, costs, and expansion.

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What do successful retailers do when the strategies that once fueled their growth stop working?

Wharton Professor Marshall Fisher discusses how successful retailers adapt when traditional growth opportunities begin to disappear. Drawing on research into the strategies of Costco, Walmart, and Dillard’s, he explains why retailers move through different phases of growth, from opening new stores to expanding online and cutting costs. He also explores why companies need to resist the temptation to force growth and instead focus on growing revenue faster than costs.

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