Intellectualisation of decision-making or algorithmic illusion?

Abstract

In an era of comprehensive digital transformation of society, marked by the rapid development of intelligent technologies, artificial intelligence and machine learning, the paradigm of decision-making has changed radically. The classic methods, widely used since the heyday of automation in the last century, are based on rationality, probability, and optimization. Decision-making is based on simplified models that mimic knowledge about the unknowable – attempting to squeeze complex processes into clear numbers, assuming that complete information is available to calculate the best option. The illusion of control through modelling gives a false sense of accuracy and security. But in any complex system, information awareness is far from complete for the application of mathematical methods, especially in real-time systems, time-constrained conditions and so on.