Role of AI and bio-inspired computing in decision making

Abstract

Decision making has been one of the challenging tasks in solving real-world problems. Decision making mimics human activity which in turn has noteworthy impacts. Several researches have proved that the quality of decisions has been improved by developing computer-based technologies that aid and extend the human capabilities. Decision support systems (DSS), which augment in making proper decisions, to an extent, do sometimes lack intelligence. The recent advances in the field of artificial intelligence (AI) have made this possible in a wide range of multifarious applications. AI has the capability of mimicking human decision making and has also shown that it is capable of assisting and improving human decision making in real-time complex environments. Embedding intelligence into the DSS using the AI capabilities has been progressing thus forming the Intelligent Support Systems for Decision Making (ISSDM). These support systems have been used in simplifying the decision-making process in several areas, namely, health care, cyber security, finance, marketing, and commerce. This chapter reviews the role of artificial intelligence tools such as artificial neural networks, fuzzy logic, and bio-inspired algorithms in the decision-making process. A brief introduction to the application of these algorithms to Industry 4.0 paradigm is also provided.