Navigating Power, Pitfalls, and Best Practices
Tuesday, 10 March 2026
10:00 AM EDT
Zoom
Large language models are transforming market research, but knowing when and how to use them responsibly is essential. This session distinguishes between using LLMs for discovery (generating new insights about human behavior) versus measurement (coding and annotating data at scale), explaining why measurement tasks are often better suited for AI tools while discovery faces a fundamental "validation paradox." Through a detailed, hands-on example coding the emotional valence of thousands of words, you will learn a step-by-step validation framework: splitting data into development and test sets, designing prompts that mirror human survey instruments, and benchmarking LLM outputs against human ratings using correlation and error metrics. The session also addresses two critical challenges researchers face when adopting these tools: ensuring replicability across probabilistic models and maintaining data privacy when working with sensitive information. Topics include best practices for using open-source models, setting appropriate model parameters, and building research workflows that keep pace with rapidly evolving AI capabilities.
Understand Large Language Models
Identify opportunities and risks
Build data driven decisions
Gain insights into programs & offerings
Expert Guidance
Gain valuable student insights
UIC Business, part of the University of Illinois Chicago, is a top-ranked, research-driven business school with a global reputation for excellence. From its humble beginnings offering accounting, economics, and general business programs, UIC Business has evolved into a dynamic institution serving over 3,700 undergraduate and 1,000 graduate students annually. With six academic departments—accounting, finance, information and decision sciences, managerial studies, marketing, and real estate—UIC Business offers a robust range of nine undergraduate and seven master’s programs, including an MBA and specialized master’s degrees in fields such as business analytics, marketing, and supply chain management. The UIC Liautaud Graduate School of Business, endowed by the Liautaud family, is a centerpiece of graduate education at the college. UIC Business also leads in knowledge creation through its two PhD programs and innovative initiatives like the Business Scholars Program, a unique honors experience for high-achieving undergraduates. Its online undergraduate business program, ranked 7th nationally, underscores the school’s commitment to accessible, high-quality education. Situated in the heart of Chicago, UIC Business thrives in a vibrant urban setting, reflecting the city’s hardworking, resourceful ethos. With a global perspective, diverse student body, and 52,000+ alumni, the college continues to make a lasting impact, empowering the next generation of business leaders to excel in a rapidly changing world.
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05 March 2026
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