Question

In: Economics

Artificial intelligence (AI) and data science are hailed as society’s answer to human bias in decision-making....

Artificial intelligence (AI) and data science are hailed as society’s answer to human bias in decision-making. Why not let the computer algorithms take over, make the decision-making process free of human interaction, and supposedly, free from human bias. Isn’t this rational decision-making? What could go wrong?

  • Apple new credit cards (issued by Goldman Sachs) reveal bias against women (lower limits to women, than men)
  • 2016 investigation by ProPublica revealed that data-driven AI used by judges to decide whether a convicted criminal will commit future crimes is biased against minorities and people of color.
  • Face recognition software make more mistakes in identifying women and people of color
  • Automated financial underwriting reveals gender and ethnic biases.

Why is this happening?

What is decision making going to look like in the future?

Solutions

Expert Solution

We should take artificial intelligence as prediction tool. Because it can't understand the full thinking process of human mind and situation. For example a consumer wants to buy something and AI starts its work on his decision making then what if he cancelled his plan due to Money problem.

Computer algorithms are already working on it with thieving our data by pre installed applications and softwares in mobiles and computers. But they don't work well. Suppose that you are searching about world's most expensive jet, then what can AI predict about you that your plan is buying it, highjack it or only search for information.

Human makes decision randomly. He is not an animal whose work is only finding food and then poop. What If a criminal wants to be gentle man and AI predict his next crime, what if a women can fly the president's plane better but AI predict a man can be better pilot.

So human mind is beyond AI's prediction and if we will follow it then it will be harmful for human society.


Related Solutions

The stream of Robotics and Artificial Intelligence (AI) has been becoming an integral part in human...
The stream of Robotics and Artificial Intelligence (AI) has been becoming an integral part in human life. Existing robots reveals a vast diversity in structural shapes, materials for developing variety of components and modes of mobility. However, most of the robots have one thing in common, they are passively balanced (a state of stable equilibrium). As we consider two-wheel robots, their system is unstable. These two-wheel robots are called as “Two-Wheels Self-Balancing Robots (TWSBR)” which describes a robot that can...
What is Artificial intelligence (AI)? What is the primary goalof AI? How AI is related...
What is Artificial intelligence (AI)? What is the primary goal of AI? How AI is related to Expert Systems?
A PEST analysis on artificial intelligence (AI) and its effects
A PEST analysis on artificial intelligence (AI) and its effects
A)What is Artificial intelligence (AI)? What is the primary goal of AI? How AI is related to Expert Systems?
A)What is Artificial intelligence (AI)? What is the primary goal of AI? How AI is related to Expert Systems?B)What is knowledge management (KM)? Explain the differences between the two fundamental approaches to knowledge management.
What is Artificial Intelligence (AI)? How is AI integrated into the manufacturing and service sectors?   How...
What is Artificial Intelligence (AI)? How is AI integrated into the manufacturing and service sectors?   How is the integration of AI influencing cost and efficiencies in production? How is the integration of AI affecting the introduction of new products and marketing them? How is United States positioned globally in AI? How are Trump Administration immigration and educational policies likely to impact the competitive position of United States in AI in international markets?
Artificial Intelligence (AI) is not a new phenomenon, but it is still a growing concern for...
Artificial Intelligence (AI) is not a new phenomenon, but it is still a growing concern for many industries. While the human element remains the most important factor in most businesses, the accounting industry is not exempt from the threat of new technologies. If you were the owner of a medium to a large company, how could you use new technologies such as AI to support your daily operations? Select and discuss one of the options below. Option B: More accurate...
Future of Artificial Intelligence(AI) in E-Commerce Businesses and the benefits of using AI?, Research paper.
Future of Artificial Intelligence(AI) in E-Commerce Businesses and the benefits of using AI?, Research paper.
Describe in detail two of the challenges faced by the use of Artificial Intelligence (AI) in...
Describe in detail two of the challenges faced by the use of Artificial Intelligence (AI) in human life. Your answers must use at least three reference materials such as books, articles or websites, and must be clearly stated in writing. The description must be based on scientific arguments and accurate facts. The answer should be in two pages.
“Decision-making is best left to machines (artificial intelligence, machine learning)” Take a position on the above...
“Decision-making is best left to machines (artificial intelligence, machine learning)” Take a position on the above statement (agree, disagree or it depends). Anticipate what someone holding the opposite position would say (if you chose it depends assume the opposing position is “agree”) Counter the opposition’s argument
Artificial Intelligence and Cognitive Psychology How can you engineer human emotion in artificial intelligence? Do not...
Artificial Intelligence and Cognitive Psychology How can you engineer human emotion in artificial intelligence? Do not copy and paste from other websites without giving credit or putting things in quotes. For example, don't say it is possible to engineer human emotion by using engineering principles. What kind of engineering principles? How does engineering even come into the picture?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT