4 ways AI is helping humans make informed decisions

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum.

Author: Douglas Broom, Senior Writer, Forum Agenda

• Artificial intelligence is helping humans make better informed decisions.
• From predicting wildfires to tailoring adverts, AI is playing a central role in modern life.
• Its ability to sift through a mass of data and make instant connections makes it a useful tool across industry sectors.
• But its usefulness also makes AI a potential threat, with experts warning about risks around privacy, bias, inequality, safety and security.

Artificial intelligence (AI) is often spoken about as a future technology. The reality is that it’s already very much part of our world and is helping humans make informed decisions every day.

The release of ChatGPT, an AI-based chatbot, in November 2022 was accompanied by both fanfare and controversy. But it was just the latest in a long line of AI-powered devices already in daily use.

From answering customer service queries to analyzing and predicting climate trends, AI is in use across industries and the public sector. Indeed, it is AI’s ability to analyze huge amounts of data at speed that is making it a useful decision making tool.

Yet its very usefulness also makes AI a potential threat. Cambridge University’s Centre for the Study of Existential Risk says that although AI has great potential, it creates risks around privacy, bias, inequality, safety and security.

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How is the World Economic Forum ensuring the ethical development of artificial intelligence?

The World Economic Forum’s Platform for Shaping the Future of Artificial Intelligence and Machine Learning brings together global stakeholders to accelerate the adoption of transparent and inclusive AI, so the technology can be deployed in a safe, ethical and responsible way.

• The Forum created a toolkit for human resources to promote positive and ethical human-centred use of AI for organizations, workers and society.
• From robotic toys and social media to the classroom and home, AI is part of life. By developing AI standards for children, the Forum is creating actionable guidelines to educate, empower and protect children and youth.
• The Forum is bringing together over 100 companies, governments, civil society organizations and academic institutions in the Global AI Action Alliance to accelerate the adoption of responsible AI in the global public interest.
• The Forum’s Empowering AI Leadership: AI C-Suite Toolkit provides practical tools to help companies better understand the ethical and business impact of their AI investment. The Model AI Governance Framework features responsible practices of leading companies from different sectors that organizations can adopt in a similar manner.
• In partnership with the UK government, the Forum created a set of procurement recommendations designed to unlock public-sector adoption of responsible AI.
• The Centre for the Fourth Industrial Revolution Rwanda is promoting the adoption of new technologies in the country, driving innovation on data policy and AI – particularly in healthcare.

Contact us for more information on how to get involved.

While that debate plays out, AI is busy sifting through a mass of data and making connections humans can’t – saving time, money, and even lives.

How artificial intelligence is helping make informed decisions

Here are four ways in which AI is currently helping humans make informed decisions.

1. Fighting wildfires

The World Meteorological Organization predicted that climate change will lead to a 30% increase in the number of extreme fires by 2050, rising to a 50% increase by the end of the century.

Launched by the World Economic Forum in 2022, the FireAld initiative aims to develop AI solutions which predict the location at which wildfires might break out, their likely severity and the best way to tackle them.

A major issue was inconsistencies in the way local weather data was reported and the Forum has urged public agencies to collaborate to ensure that AI tools have the best data from which to predict wildfires accurately.

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2. Targeting the right customers

In tough economic times, it’s critical that marketing efforts reach the people most likely to buy products if businesses are to survive. Getting it wrong can be an expensive mistake. Globally, businesses spent over $567 billion in 2022 on digital advertizing.

Research by Deloitte found that AI could make a big difference by working out which channels people prefer to be contacted through and creating tailored messaging for individual potential customers.

The American Marketing Association is putting its ideas into practice by using AI to create personalized newsletters for each of its 100,000 subscribers.

3. Helping firefighters see through smoke

When a fire crew arrives at a burning building, how do they decide where to go? Handheld thermal imaging cameras have their limitations, but in 2022 the Scottish Fire and Rescue Service trialled an AI-based system which helps firefighters find trapped people faster.

Using radar and movement sensors in addition to thermal imaging, the helmet-mounted device provides a clear image of the interior of burning buildings to enable firefighters to make rapid decisions about where to find victims and colleagues.

AI is also playing a role in helping people get back on their feet after fires and natural disasters like floods. Drone images of affected properties are analyzed by insurer SwissRe’s AI-powered Rapid Damage Assessment tool to speed up the processing of claims.

4. Detecting disease

In the health sector, AI is having a big impact. Indeed, by 2026, two-thirds of medical imaging processes are expected to use AI to detect diseases and guide treatment.

Microsoft is developing AI models that use a hospital’s own data to automatically highlight tumours and healthy organs on patient scans, helping oncologists decide on the most effective, individualized cancer treatments for their patients.