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Exploring the Potentials and Pitfalls of Artificial Intelligence-Driven Decision-Making

In: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Hybrid Conference, Dubrovnik, Croatia, 4-6 September, 2023

Author

Listed:
  • Zakota, Zoltan

Abstract

As artificial intelligence (AI) becomes more deeply implied in everyday life, it takes a more prominent role in decision-making in every industry. As Joseph Fuller, a professor of management practice at Harvard Business School, said: "Virtually every big company now has multiple AI systems and counts the deployment of AI as integral to their strategy." Implicitly, decision-making capabilities are incorporated into their products; consequently, ethical concerns also gain importance. This paper presents some of the most critical issues of using AI in everyday decision-making. Starting from the three main concepts of AI, decision-making and ethics, it is a philosophical approach to the issues and biases raised by AI's overwhelming spread in everyday life.

Suggested Citation

  • Zakota, Zoltan, 2023. "Exploring the Potentials and Pitfalls of Artificial Intelligence-Driven Decision-Making," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2023), Hybrid Conference, Dubrovnik, Croatia, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Hybrid Conference, Dubrovnik, Croatia, 4-6 September, 2023, pages 93-100, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    • Handle: RePEc:zbw:entr23:302072
    DOI: 10.54820/entrenova-2023-0009
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    More about this item

    Keywords

    artificial intelligence; decision-making; ethics of decision-making;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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