Human and artifi cial intelligence in the discourse of behavioral economics

Abstract

In the context of exponential growth of technological capabilities and increasing data volumes, artificial intelligence (AI) can not only improve the accuracy of forecasting, but also neutralize the influence of cognitive biases, which significantly simplifies the decision-making process. AI separates forecasting from judgment, complementing a person in the decisionmaking process, most accurately calculating probabilities, thereby repeating the work of human System-1 which also automatically calculates probabilities, but due to the heuristics of judgments makes predictable systematic errors. The article reveals the advantages of using AI algorithms: first, a decrease in cognitive load when considering alternatives, second, a more accurate forecast that is not amenable to framing, third, the ability to build a choice architecture within the framework of a nudge policy. It is argued that automation and AI algorithms are beginning to influence individual decisions, raising questions about the nature of autonomous choice and rationality in the digital age. In practice, the symbiosis of humans and AI, widely used in marketing, retail, etc., allows us to build simulation models of realistic multi-agent behavior, conduct dynamic segmentation and create personalized content based on a large array of consumer preference data, adapt innovative products and customize individual offers. The study uses an interdisciplinary methodological approach based on a synthesis of approaches from behavioral economics, marketing and AI sciences. The authors conclude that the dynamic partnership of AI and humans has a powerful transformative potential in various areas of life, from optimizing business processes to improving the quality of our lives.