Apple was already quite successful when Steve Job’s gut told him that the iPhone would be a major success. But nobody could have predicted just how much the invention of the iPhone would transform the company and the world. That kind of intuition that Jobs displayed is crucial for business owners/leaders whether it’s big or small. Google’s AlphaGo computer displayed similar intuition recently when it defeated the world champion of the complex board game “Go.” The programmers who created AlphaGo fed it every move of 150,000 “Go” matches to give it a feel for the game and the best strategies for achieving victory, and they were just getting started. Next they let the computer play against itself over and over again constantly fine tuning the strategies it had learned. In all, it made billions of self-adjustments before it was ready to play against and defeat the reigning world champion.
The same intuition that AlphaGo used to learn and eventually master a board game may also soon be used to make business decisions like the ones Steve Jobs had to make when he was the CEO of Apple and pioneering the smart phone.
Decision making without bias
As it turns out, humans have a major weakness when it comes to decision-making, they’re prone to making mistakes due to bias. Even though we’re aware, at some level, of our own bias, we’re still incapable of subtracting it from the decision making process no matter how hard we try. AI doesn’t suffer from that problem. Whereas humans have the tendency to discount any information that doesn’t confirm their already-held assumptions or pursue short-term gains despite potential long-term losses, AI can objectively analyze all the relevant data and arrive at the decision that makes the most sense.
It’s already happening
Believe it or not, many corporations are already relying on artificial intelligence machines for some of their decision making. Smaller decisions may be made without any input from humans (this happens on the stock market every day). Larger decisions are still made by humans but are often informed by a vast amount of analysis performed by AI. As AI’s decision-making becomes better, we may see AI taking over more and more of the decision-making responsibilities though it’s safe to say that humans will still need to be involved for many years to come.
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Source: forbes .com/sites/sap/2016/08/24/how-to-make-better-bias-free-decisions-with-artificial-intelligence/#32b2b74523c2