Does Human cognitive bias impact the outcome of Business Solutions?
There are many human-driven biases, which occur while doing data analysis and/or making inferences. These biases can be minimized using AI. The efforts from AI experts are to reduce such biases instead of emulating human intelligence mistakes in Artificial Intelligence.
Will AI bring benefits from timely, comprehensive, cost-effective insights?
With the evolution of AI, key functions like human resources, budgeting, marketing, capital allocation and even corporate strategy can be supported for complex decisions. It needs to be seen how these functions will be benefited from AI.
Will it reduce the dependence on external consultants?
Today, a lack of adequate data and variety of data creates dependence on external consultants. Will AI help internal consultants/CXO to get suggested strategies? A great deal of what is paid for consulting services is data analysis and presentation. Consultants gather, clean, process, and interpret data from disparate parts of organizations. Will this change in the next few years?