Analytics

Are machines better than humans at making decisions?

01st Feb `14, 11:52 AM in Analytics

Are machines better than humans at making decisions? Andrew McAfee has formulated in the Harvard Business Review Blog…

BDMS
Guest Contributor
 

Are machines better than humans at making decisions? Andrew McAfee has formulated in the Harvard Business Review Blog yet another M-Law for the big data age: “As the amount of data goes up, the importance of human judgment should go down.”

McAfee reviews years of studies of algorithms vs. human judgment by various experts and concludes that we should not rely on experts anymore: “The practical conclusion is that we should turn many of our decisions, predictions, diagnoses, and judgments—both the trivial and the consequential—over to the algorithms. There’s just no controversy any more about whether doing so will give us better results.” (Italics mine; explanation below).

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