Dai Recognized for Pioneering Contributions to Operations Research and Analytics
BALTIMORE, MD, November 18, 2024 — Cornell University researcher J.G. “Jim” Dai has been awarded the 2024 John von Neumann Theory Prize by INFORMS, the leading international association for professionals in operations research, analytics, management science and other related fields, for his groundbreaking contributions to the fields of operations research and analytics. The John von Neumann Theory Prize is one of INFORMS’ highest honors, awarded annually to recognize contributions that have stood the test of time for their significance, innovation, depth and scientific excellence.
This prestigious award celebrates Professor Dai’s fundamental and transformative work in stochastic systems theory, most notably his pioneering research on stochastic network stability and heavy traffic diffusion approximations. Dai’s seminal 1995 paper established a foundational link between the stability of fluid models and the positive recurrence of Markov processes, introducing a rigorous and general framework that has since become a cornerstone of the field. His research provided a direct and comprehensive method to demonstrate the stability of fluid models, leading to significant advancements in the study of complex systems involving general state-space Markov processes. Additionally, over the past two decades Dai’s influential work has extended beyond theoretical development to real-world applications in areas such as data switches, semiconductor wafer fabrication lines, call centers and healthcare delivery systems.
The Prize was presented at the 2024 INFORMS Annual Meeting in Seattle, October 20-23. It includes a $5,000 cash prize, a medallion and formal citation.
“INFORMS is honored to recognize Professor Dai for his profound contributions to stochastic systems theory,” says Elena Gerstmann, executive director of INFORMS. “His work has not only advanced theoretical understanding but has also led to substantial real-world impact across multiple industries. This award is a testament to his dedication to the field and the lasting influence of his contributions.”
“I am grateful to be part of the vibrant applied probability research community, which has been highly interdisciplinary. My research has benefited greatly from the interactions at workshops and conferences. I am fortunate that the seed for the cited 1995 paper was planted during a discussion with Ruth Williams at a conference dinner organized by Frank Kelly and Michael Harrison in June 1992,” says Dai. “I am happy to see that INFORMS continues to be a vibrant research community, with its annual conference attracting researchers from increasingly more disciplines.”
About INFORMS
INFORMS is the leading international association for professionals in operations research, analytics, management science and related fields. With over 13,000 members, INFORMS advances and promotes the science and technology of decision-making to save lives, save money and solve complex problems. INFORMS members support organizations and governments worldwide in transforming data into actionable insights that lead to more efficient, impactful, and equitable outcomes. INFORMS members encompass a diverse community of practitioners, researchers, educators and students from across the globe.
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Ashley Smith
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[email protected]
443-757-3578