Artificial intelligence has revolutionized the way of doing business, and it has the ability to permit organizations to enhance their decision-making, provided individuals are ready to use algorithms in decision-making contexts.
A new study published in Managerial and Decision Economics shows that cognitive perceptions play a vital role in such readiness.
As part of the web-based study, 310 participants were subjected to a decision situation where they had to make a personal strategic career choice—choosing a new job. They were informed that they were in the job market seeking their next career step, and that they were successful in a specific number of job applications. They were requested to select one of these job offers.
A list of merits and demerits was given for every job offer, and the participants were given an option to assign decision to select a new job to an algorithm that will have the potential to select the objectively best solution for them. Participants had to select if they would be intended to assign their decision to this algorithm.
Researchers discovered that participants with decreased levels of situational awareness were more likely to delegate. Therefore, the study outcomes highlight the importance of cognitive perceptions in determining the suitability of decision-delegation options.