Background
- Artificial Intelligence is transforming the way we do business. It makes it all possible, from fully automated processes to data-driven assessments.
- We can’t run a successful company in the 21st century without data; it allows us to refine our strategies and get a deeper understanding of our clientele.
- But this abundance of information brings with it a challenge: how can our brains possibly process all of it?
- Here is where the decision-making capabilities of artificial intelligence (AI) come into play.
What is AI decision Making?
- AI decision making is the process through which businesses use AI to improve the speed, accuracy, and consistency of their decision-making by way of pre-existing datasets.
- Artificial intelligence, in contrast to humans, can evaluate massive datasets in seconds with zero mistakes, allowing your team to concentrate on other tasks.
- In principle, data processing, trend identification, anomaly detection, and complicated analysis may all be outsourced to an AI platform once you give over your data to it. Then, either a human or an automated system makes the ultimate call.
The Good
- For organizations, AI is useful because of its capacity to learn from its own experience; the more judgments it makes based on data, the more it improves.
- AI never tires or needs a break while human bodies and minds do in order to keep performing at peak levels.
- Artificial intelligence (AI) technologies like chatbots, algorithms, and machine learning help businesses learn more about their clients’ problems, goals, and levels of satisfaction.
- When making decisions, AI systems can quickly examine massive amounts of information, but humans can’t.
- Since AI decisions emerge from compiled data with the aid of developed algorithms, mistakes are eliminated, accuracy is raised, and precision is attainable.
The Bad
- The decision-making process is greatly simplified by eliminating people, yet this may not always be the best course of action.
- Compassion and ethics are not traits that can be found in AI. As a result, it could make decisions that are unethical.
- The fact that AI algorithms are only as good as the data they draw from is one of the most significant challenges they face. If a poor technique is used to collect data, the insights that are gained from using that dataset will also be flawed.
- Most of the time, AI is unable to explain why it made certain conclusions. As a consequence, there is an absence of transparency.
- While, it’s true that AI becomes smarter the more data and experience it’s fed, it doesn’t mean it can conceive of new ways to solve problems or be imaginative.
The Challenges
Human Touch
- Even if AI can compile data more quickly than people and analyze it more simply, this does not always indicate that handing everything over to computers is the best course of action.
- Taking humans out of the equation could work for simpler forms of automation, like a die-cutting machine that punches out thousands of similar circles or programs that shift data automatically from one field to another. But for a broad variety of other significant decisions, we have not yet figured out how to put qualities like humanity, ethics, and values into robots.
- In fact, corporations and governments will always want an element of personalization. People working in a variety of fields have the potential to positively influence decisions in a variety of ways, including by writing persuasive text, drafting laws, presiding over the administration of justice or providing empathetic customer services.
- To make sure that the human element is always there in your autonomous decision making, take a step back and make sure that there are individuals responsible for the correctness, dependability, integrity, and confidentiality of your data. This leads to automation that is in line with company values, guarantees optimal results, and most crucially, maintains the fairness of the machines that create those results.
In the Eyes of The Law
- The idea that those who make decisions should be held responsible for the consequences of their decisions is central to the democratic concept of justice. Therefore, humans cannot trust AI with judgments that call for emotional intelligence and ethical deliberation, such as those involved in the administration of justice.
- Because an AI system’s reasoning may not always correspond with human reasoning or values, our legal systems need to make sure that AI doesn’t violate our social values and human rights.
Conclusion
Artificial intelligence (AI) may be highly useful since it reduces the amount of effort required to interact with the data, but it can also lead to unprecedented privacy and security breaches if it is not properly supervised by humans.
With that said, when it comes to making choices, AI is clearly the wave of the future for both organizations and customers. In a dramatic shift from prioritizing wants above needs, AI is now deciding what’s best for humans.
YLCC would like to thank Pearl Narang for her valuable input in this article.
