Though in essence still a prediction machine, as it basically consists of algorithms capable of (a) finding patterns in large datasets, and (b) training themselves to get “smarter” (increase their predictive accuracy), there are clear reasons to expect AI to also improve our ability to understand things, including ourselves. In fact, if there is one consistent finding in the history of psychology, it is that self-deception is far more common than self-knowledge.Įnter AI (artificial intelligence). And yet, self-knowledge is a hard skill to master, with research suggesting that only 10-15% of people are self-aware. Without it, we wouldn’t be able to construct a logical story of who we are, which would make our experience of life, and interactions with others, chaotic, irrational, and unbearable. Self-knowledge is the cornerstone of human identity. Importantly, brands will enhance their ethical reputation and trustworthiness if they share their insights with consumers persuading them that there is no conflict between knowing them well, and helping them know themselves well, when done in an ethical and transparent way. We must democratize the knowledge that algorithms have on us, at least by making sure that companies have to share the personal insights they’ve gathered with us. In an age where data has become commoditized, but the insights and profits from data are the rather exclusive belonging of a few enormous tech players, what better way to harness consumer trust and loyalty than by giving people back valuable insights that can turn them not just into smarter and better customers, but also more self-aware humans? After all, if our choices as consumers are becoming more and more data-driven, but that data does not actually increase consumer sophistication or rationality, that’s a huge missed opportunity. And many theorize that AI will soon know us better than we know ourselves. AI is already helping companies understand their customers better.
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