AI and Decision Making

Previously, computing was confined to data organisation and processing. In this age of digitisation, data can be converted into vision, hearing, text, speech, movement, patterns and decisions. Computers have acquired cognition, thus leading to autonomous learning and action by machines. Thus AI is fast evolving.

AI has worked wonders in e-commerce, digital promotion, transport, ticketing and social media. AI has to be tailored to business strategy and organisational competence. While using AI, organisations must have a comprehensive measurement system. There should be manpower to curate, label and rank data for algorithms to make correlations and predictions.

AI has its limitations and risk. The biggest limiting factor is data availability and quality. There are issues of privacy in data collection. It is challenging to attribute decisions to specific criteria. Partial facts and biases are the limitations.

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