Posted by Jim Guszcza on October 31, 2016
The relationship between human and artificial intelligence (AI) is becoming one of the major issues of the day. A recent World Economic Forum report predicted that more than five million jobs will be lost to AI-fueled automation and robotics over the next four years1. It’s interesting to consider the relative abilities of human and machine intelligence in a specific arena: making predictions and forecasts. When is AI better at predicting outcomes, and when are humans? What happens when you combine forces? And what role–if any–will human judgment play as algorithms continue to evolve? It turns out that algorithmic forecasting has limits that machine learning-based AI methods cannot surpass; human judgment will not be automated away anytime soon.