AniketKalidhar_Fundamentals of Business Analytics_Milestone 1.pptx

The project, submitted by Aniket Kalidhar, explores the evolving interplay between Artificial Intelligence (AI) and human expertise within the realm of business analytics. The presentation delves into AI's transformative journey from basic programmable machines to advanced self-learning systems, showcasing its significant impact across various sectors such as healthcare, finance, and customer service. Despite AI's impressive capabilities in data handling and pattern recognition, the analysis highlights the irreplaceable value of human intuition, experience, and ethical judgment in complex decision-making processes. The project advocates for a future where AI complements human intelligence, enhancing decision-making while preserving the nuanced understanding that only human experience can provide. This collaborative approach underscores the importance of leveraging AI as a tool to augment human capabilities, ensuring more effective and ethical outcomes in business analytics.

1. GOLDEN GATE UNIVERSITY, SAN FRANCISCO, CA, USA ACADEMIC YEAR: 2023-24 COURSE: Foundation of Business Analytics PROJECT: Final Presentation Submission – Milestone 1 SUBMITTED BY: ANIKET KALIDHAR 30 th November 2023

2. Reference Swap, W., & Leonard, D. (2014). Artificial Intelligence Can't Replace Hard-Earned Knowledge - Yet. Harvard Business Review. Summary In this pivotal article, Swap and Leonard scrutinize the advancements in AI and juxtapose them against the rich, nuanced understanding that comes from human experience. They argue that despite AI's impressive strides, it hasn't yet reached a point where it can substitute the deep, intuitive knowledge gained through years of human experience and learning.

3. The Evolution of AI AI's journey from basic programmable machines to self-learning systems using advanced machine learning. The broad application of AI in sectors like healthcare for disease prediction, finance for market analysis, and customer service for personalized interactions. AI's proficiency in handling and analyzing large volumes of data, identifying patterns, and making predictions based on statistical models.

4. Human Knowledge Beyond Data Human knowledge encompasses more than just information; it includes experiences, emotions, intuition, and ethical judgment. Real-world examples where human insight has proven critical, such as in medical diagnoses that require understanding of patient history and symptoms beyond what data alone can provide. The unique capacity of humans to understand context, interpret nuances, and make decisions based on a blend of logic, emotion, and ethical considerations.

5. AI and Human Intelligence: Complementing Strengths Analysis of how AI excels in data-driven tasks but lacks the capability to fully understand human emotions and context. Discussion on the unique strengths of human experience, such as the ability to navigate complex social situations and make ethically nuanced decisions. Highlighting scenarios where AI's lack of emotional intelligence and context understanding has led to limitations in decision-making, such as in nuanced ethical dilemmas or creative problem-solving.

6. Collaborative Future: AI and Human Expertise Exploring potential future developments in AI, especially in learning to interpret human emotions and context. The critical role of integrating AI with human knowledge to create more effective and ethical decision-making systems. Recommendations for future AI developments, emphasizing the importance of AI as a tool to augment human decision-making, not replace it.

7. Key Takeaway Recognition of AI's current limitations in replicating the nuanced understanding inherent in human experience. The importance of viewing AI as a complementary tool to human intelligence, enhancing rather than replacing it. The potential of AI as a supportive mechanism in human decision-making, enriching the process with its data-processing capabilities.

8. Link to the article Swap, W., & Leonard, D. (2014). Artificial Intelligence Can't Replace Hard-Earned Knowledge - Yet. Harvard Business Review. [ Source ]

9. Thank you