Making decisions and overcoming failures in the digital age, as defined by behavioral economics
In the digital age, the left brains of organizations will be replaced gradually with AI. There are high expectations that AI-assisted decisions will not only be more reasonable and rational than human decisions but also highly likely to lead to successful results. In the digital age, neither the business of a company nor policy of the government can be successful unless it generates value added such as personalization, diversification, and segmentation. Whether government or business, economic players will strive to enhance predictability regarding business management and policy environments by quantifying consumer behavior to the maximum extent possible. This is why the role of AI is getting bigger.
Paradoxically, however, the more AI application is expanded, the more confusion it may bring. Human decision-making is made through balance and coordination between rational, logical and reasonable areas and emotional, experiential, and intuitive areas. AI can reinforce the rational areas but may not be properly applicable in the emotional area. Therefore, when humans or organizations use AI in their decision-making process, it may bring about unexpected results. AI may fail to resolve a given issue or cause more confusion as it cannot read emotions, experiences, and intuition, that is, unreasonable judgments and actions.
For this reason, K.E.Y. PLATFORM 2018 intends to delve deep into the emotional, experiential, and intuitive areas of the human and organizational decision-making process, the capabilities or problems of which it is hard even for AI to reinforce or resolve. Failures are inevitable in these areas, but we plan to propose a specific methodology by which you can accept such failures with wisdom and take off higher.