- WHAT IS IT?
Decision intelligence is a practical domain that encompasses a wide range of decision-making strategies, bringing together a variety of traditional and advanced disciplines to create, model, align, execute, monitor, and tune decision models and processes. Decision management (including sophisticated nondeterministic techniques such as agent-based systems) and decision support, as well as descriptive, diagnostic, and predictive analytics, are among these areas.
- DECISION MAKING
The current situation and environment usually drive us, our understanding of the topic, previous experience, partiality, emotions, wants, and intuition when making work and everyday life decisions. Ultimately, stereotypes, misconceptions, and our subjective sense of truth can all impact our judgment.
This is how the human brain makes decisions based on a combination of external and internal elements, which is why it never considers all of the contributing aspects and can never imagine a complete picture.
However, when it comes to a decision-making machine powered by AI, it’s a game-changer. The artificial intelligence system analyses and analyzes massive data sets in real-time, make smart predictions based on historical data and recommends the best possible actions based on the data sets and parameters that were initially given.
As a result, there are two major distinctions between human and AI decision-making:
- AI considers all accessible data, but humans only consider a limited amount of data.
- In the end, artificial intelligence is objective and ignores emotional aspects.
Decision intelligence is all about bringing varied viewpoints on decision-making together to make us all stronger and offer them a fresh voice that isn’t bound by the usual limits of their fields of study. On the other hand, do smart systems always make better judgments than humans? Even though they are directed by enormous amounts of data and are not subject to cognitive biases, they nevertheless require human verification, particularly when the decision taken may result in conflicts of interest or values.