ST⛔P assuming all #AI methods, techniques, and algorithms are applicable and suitable to decision-making use cases in organizations.

AI is a broad field that contains many different methods and techniques. Depending on why you want to use AI in organizations and what the use cases are, you have to choose between multiple options.

💢Before selecting the techniques and methods, it is crucial to understand the holistic view of the use case, what initiatives it will support, and what KPIs it will influence.

If 🫵you are looking for AI to improve decision-making, that's where #DecisionIntelligence comes into the picture. In fact, I'd like to define Decision Intelligence as AI for decision-making. It means the choices of options that are relevant for decision-making are:
🔹Rules and heuristics
🔹Nongenerative Machine Learning
🔹Optimization
🔹Graphs
(credit to Leinar Ramos from Gartner https://lnkd.in/gxUKcR5E)

✨AI for Decision-Making requires #decisioncentric, a unifying approach called Decision-Centric Approach® that brings people, rules, data, and processes together in a synergic and collaborative manner that involves all stakeholders. It requires shifting the view from data, analytics, algorithms, and technologies to business decisions that create business values.

🤔How to get AI for Decision-Making started?
1️⃣ Understand what we are trying to achieve (e.g., business values & objectives).
2️⃣ Determine what business decisions will influence those objectives (influences the KPI of those objectives)
3️⃣ Model the Decision Graph representing the business decisions in relation to those objectives and their KPIs
4️⃣ Decompose the business decisions into smaller, more understandable decision units
5️⃣ Establish the relation and dependencies between decision units

⛳Once we've done this, we can select the proper techniques for every decision unit, such as #rules, #optimization, #machinelearning #graphs, etc. The decision graph is the holistic view of the business decision related to specific objectives. It combines outcomes of multiple techniques (for each decision unit) to create the final business decisions.

🚀Decision-Centric Approach® empowers teams to put AI for Decision-Making into practice. It guarantees your AI efforts will deliver business value. Additionally, it ensures that the correct set of AI techniques is selected and working in orchestration to solve decision-making problems in organizations.

#insurance #banking #financialindustry #bfsi #health #government

Posted here.

Published April 9th, 2024 at 07:30 am