What is AI-driven decision making:
- Artificial Intelligence is being used to make decisions with the help of vast amounts of data collected and also being trained to replicate the knowledge and reasoning methods of the experts.
Pros:
- It saves plenty of time for humans by analyzing vast amounts of data and making decisions based on that. People cannot easily deduct conclusions from a large quantity of data.
- AI-driven decision making is also being used to know the best possible treatment for certain types of cancers, which is different for different persons. This is helping doctors to make better decisions. So, it is very helpful in the medical field too.
- AI-driven decisions are showing us ads based on our browsing history, purchasing behaviour etc. It is predicting our future behaviour using the data. It is also helpful in understanding the customers better. This is helping the marketing industry.
- Humans tend to have biases and discriminations based on personal preferences. AI does not have that so it can make accurate decisions.
- People face decision fatigue when they are overwhelmed with many decisions to make. But AI does not have that kind of issue.
Cons:
- AI do not have compassion and ethics. So, it may take morally wrong decisions.
- If the AI-driven decisions caused any damage, who will take the responsibility?
- Often, AI cannot explain why it took those decisions. So, that results in a lack of transparency.
Conclusion:
AI takes care of analyzing vast amounts of data and gives the simplified form of data, which can be used to make better decisions. AI-driven decisions are already fetching lots of profits for businesses. But for now, human intervention is necessary to avoid implementing the wrong decisions. We cannot depend completely on AI-driven decisions without human touch, at least not yet.
Your Turn…
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References:
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