Decision making needs both AI and a healthy dose of gut-feel

The case for AI 

The KIN Autumn Workshop on 6th December is on 'Data-driven decision making'. As Steve Dale, the workshop facilitator says...

"The world of data-driven intelligence is evolving. Big data is now moving from the sole care of data scientists and becoming accessible to employees throughout organisations. The mystique surrounding data analytics is falling away, with sophisticated data visualisation tools designed to let non-technically-minded people understand metrics. Information that supports “good” business or policy decisions is just a click away".

The implication is that decisions that are based upon empirical data through data are evidentially better. In fairness, Steve does point out that reliance on back-box algorithmic data must always be used with caution (although in many cases, it is impossible to validate or even understand how algorithms come up with results). As we have seen in a previous KIN workshop on 'Evidence-based decision making', AI algorithms and analytics may simply reflect innate biases, making them appear superficially 'trustworthy'.

If these caveats can be taken in to account, AI and machine learning is certainly going to make us smarter and our decisions more evidence-based. That's a good thing, no?

The case for Intuition

At KIN we are always looking for alternative perspectives that sometimes challenge orthodoxy or 'trends'. Julian Birkinshaw, our keynote speaker for the KIN Spring 2018 workshop 'Reimagining the Innovative Organisation' will certainly do that. In his new book 'Fast Forward', Julian proposes that over-reliance on IT, big-data and advanced analytics actually reduces competitive advantage.

"At corporate level, we end up with analysis paralysis, endless debate, and a bias toward rational, scientific evidence at the expense of intuition or gut feel."

There is a need for current management models to take into account the agility provided by ubiquitous data and upstart disintermediators. Similarly, managers' skills honed to support meritocracy will need to change to reflect adhocracy. These must draw on intuition as much as evidence if organisations are to constantly innovate.

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On balance of course, rapid decisions, based on sound data-driven evidence that influences experiential judgment are an ideal. The reality is that time-critical decisions, an inability to understand the source of algorithmic outputs, engrained biases and shouty bosses all conspire to make decisions less perfect. 

It will be fascinating to explore the balance of Intuition and Data-driven decisions over the course of the KIN Winter and KIN Spring workshops. In the meantime, if you are want to balance an AI dominated view, I recommend reading 'Fast/Forward'.

The Impact of Automation & AI In The Workplace

Warwick Business School’s Knowledge & Innovation Network (KIN) and Norton Rose Fulbright (NRF) will be facilitating a breakfast briefing during Workplace Week (13-17^th November) on the topic of 'Automation & AI in the workplace'.

Workplace automation is becoming more widespread, and today’s AI-enabled, information-rich tools are increasingly able to handle jobs that in the past have been exclusively done by people (including tax returns, language translations, accounting, even some types of surgery) – automation is destined to have profound implications for the future world of work.

McKinsey recently reported that 30 percent of activities for 60 percent of occupations are now technically automatable. We will look at some of the evidence that supports this claim; how this is likely to change the workplace environment; the jobs, roles and skills that are being (or will be) affected, and whether these changes are heralding new opportunities or fuelling a dystopian future.  It will be a lively discussion!

The breakfast briefing is scheduled for Wednesday 15^th November, from 8.30am to 10am, and is being hosted by Norton Rose Fulbright (NRF) at their futuristic offices at 3 More London Riverside London, SE1 2AQ. As part of the session, NRF will share valuable insight to a global productive search solution they have recently implemented within their own workplace in order to maximise efficiency.  Guests will also be invited to join a private tour of NRF’s impressive workplace, including their spectacular roof-top garden.

This event is one of many taking place during Workplace Week, which aims to raise funds for the BBC's Children In Need charity. Ticket price is £32, all of which goes to Children In Need . KIN and NRF are providing their services at zero cost.
More details and ticket purchase is available from the Workplace Week website.

Places are limited, so if the topic, breakfast, panoramic views of London from NRF's iconic rooftop garden and the opportunity to contribute to a worthwhile cause appeal to you, book your tickets now!