The following paper will assess whether or not an individual can trust an algorithm or their gut instincts. Within the case study the VP is faced with a dilemma to use an algorithm put in place by HR or go with her gut instinct. Firstly, can an individual in a decision-making role trust an algorithm will be assessed and assessing whether may it be worthwhile trusting her gut instinct. A brief conclusion is provided which encapsulates all within the piece.
Algorithms are systems which are put in place to make decision-making processes more efficient. Algorithms improve a process by 10% to 15% compared to a human undertaking the same task but if any imperfections are found within the algorithm the human is more inclined not to use the algorithm even though the algorithm will still perform better than the human. Algorithmic systems are narrowminded and only undertake the specific task at hand and will not differ.
A famous example of an everyday algorithm is the random number generation. Similar to the case study the HR system is picking the candidate which best fits the role and not taking into consideration the other aspects such as the interview and interpersonal skills. “Algorithms tend to be myopic. They focus on the data at hand – and that data often pertains to short-term outcomes. There can be a tension between short-term success and long-term profits and broader corporate goals. Humans implicitly understand this; algorithms don’t unless you tell them to.”
VP Jones has a personal connection with Molly this being a soft goal which may have success currently but in the long run may not have the success which was initially thought. “Everyone has objectives and directives, but we also know that the end doesn’t always justify the means. We understand that there are soft (often unspoken) goals and trade-offs. We may turn down a little profit today for a gain in reputation tomorrow. We may strive for equality – even if it causes organizational pain in the short term.” The judgement of character is an essential part of the hiring process in this case as VP Jones needs and wants the individual who will be a part of the continued growth of the company. The algorithm in place has indicated such issues with VP Jones needing to take all aspects of the results into consideration as it will benefit the company.
For BBI is to have the best people in the most enhancing roles to gain a competitive advantage over the competition by applying algorithmic systems would enhance their position in the cosmetic industry. From all within the piece, the gain from using algorithms is quite superior rather than going with the gut instinct. The reason behind such a conclusion is that the way we are moving as society is towards artificial intelligence and robotic systems. By using such systems companies are gaining competitive advantage over their rivals as they are performing better than ever due to algorithms which they have in place.