The influence of Artificial Intelligence Cognitive Biases in Making Financial Decisions: Examined Via Throughput Model

Monday 4th November 2024 - Monday 4th November 2024

18:30 – 19:30 GMT+2

Online

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About the talk

The influence of cognitive biases has increased with the adoption of artificial intelligence (AI) applications in organizations due to the rising demand for fair and free-of-bias systems capable of making intelligent judgments. AI opens many new opportunities for organizations, but decision-makers need to be aware of the potential risks of these technologies and the measures that can help reduce related cognitive biases. Therefore, this paper mainly aims to meta-analyze the literature on cognitive biases in AI to investigate their impact on the decision-making process using the Throughput Model (TM). This paper also proposes a TM model incorporating the relationship between cognitive bias, AI, and decision-making.

About the Speaker

Waymond Rodgers is a C.P.A. (inactive) and holds a Professorship in Accounting and Information Systems at the University of Texas, El Paso (USA), and is a Chair Professor in the School of Business at the University of Hull (UK). Previously, he was a professor at the University of California, Riverside, and Irvine. His degrees are from Michigan State University (B.A.), University of Detroit Mercy (M.B.A.), University of Southern California (Ph.D. in accounting information systems), and an experimental psychology post-doctorate from the University of Michigan. He has received numerous research grants, such as from the Department of Homeland Security, National Science Foundation, Ford Foundation, and Citibank. He is a Ford Foundation Fellow and received a Franklin Fellowship from the U.S. State Department for his work on artificial intelligence and knowledge transfer strategy systems. Professor Rodgers was recently awarded the American Accounting Association Ethics Research Symposium Best Research Paper Award for his paper “Artificial Intelligence Algorithmic Approach in Enhancing Auditors’ Fraud Risk.” His experiences include working as an auditor with Ernst & Young and PricewaterhouseCoopers, as well as a commercial loan officer with Union Bank. Professor Rodgers has published ten books, including artificial intelligence, decision-making, knowledge management, ethical and trust-based cybersecurity systems, and the use of biometric devices as a way of intensifying identification and authentication of cyber control systems. Finally, Professor Rodgers has published in leading journals such as Accounting, Auditing & Accountability Journal, Accounting Forum, Auditing: A Journal of Practice & Theory, European Accounting Review, Journal of Business Ethics, Journal of Business Research, Journal of the Association for Information Systems, Journal of World Business, Management Learning, Management Science, Organization Studies, Sustainability, and Technology Forecasting and Social Change, among other journals.