Since behavioural economics arrived on the scene, demonstrating that people are likely to consult gut feeling as well as hard facts when making decisions, it’s been clear that business decisions might not necessarily be the rational choice. Decision-making quality is now further clouded by the escalating volumes of information to consider. Despite their best efforts, organizations are increasingly stymied by their inability to process all the of relevant data available. Between cognitive bias and insufficient processing power, we humans could probably use all the decision-making help we can get. What role can artificial intelligence play?
Evolutionary AI makes it possible to simulate the outcome of every possible choice, making us better able to pick the right course of action. These sophisticated systems can learn and adapt their models to changes in the environment, without having to be retrained. With Evolutionary AI, you have a team member who can predict the future, telling you instantly what impact a potential decision will have.
Create a model of your business
AI is used to build an adaptable model of your business, complete with performance data and past decisions. Essentially, it is an ultra-powerful, self-learning version of a traditional spreadsheet tool. Alter the variables – demographic shifts, say, or legislation, or the advent of a new competitor – and the model will reflect the change, compute the possible responses and identify which are most viable. In medical research, for example, Evolutionary AI can strip complexity out of trials by evaluating the effect of any number of different compounds on a whole range of genomic variations. As a result, the most effective treatments can be identified before the compounds go into clinical trials.
Biological evolution was also the inspiration for Cognizant’s Learning Evolutionary Algorithm Framework (LEAF™). By exploring millions of avenues and mapping billions of outcomes, it enables organizations to identify solutions to complex challenges that would otherwise be impossible to research fully. Like in biology, LEAF evolves many different agents (genes) as likely approaches, and compares how well they perform at resolving the problem in question. It then presents robust recommendations that are based on analysis of huge volumes of data – of course also unclouded by bias, emotion or personal involvement.
This powerful new Evolutionary AI framework from Cognizant creates opportunities for artificial intelligence to move beyond human limits To find how Cognizant LEAF can help you make better business decisions, download the full description here.