Mark Purdy - economist and thought leader on AI in decision-making

Feb 20, 2025

Mark Purdy, co-founder of Beacon Thought Leadership and an economist, dives into AI's transformative role in decision-making. He raises thought-provoking questions about our reliance on technology—like whether we should be polite to our AI assistants. Purdy discusses the balance between machine precision and human judgment, stressing that ethical considerations must remain in our hands. He highlights the potential risks of job displacement and biases in AI, urging a mindful approach as we embrace advancements in technology.

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Intro

00:00 • 2min

Exploring the Economic and Societal Impact of AI

01:41 • 2min

The Human Touch in Decision-Making

03:30 • 10min

Navigating the Intersection of AI and Human Judgment

13:10 • 4min

The Ethics of Algorithms in Decision-Making

17:40 • 7min

Politeness in the Age of AI

24:40 • 3min

Have you stopped remembering routes because you’ve got Google maps? Would you rely on Chat GPT for advice on how to split up with your partner? Should you say ‘please’ and ‘thank you’ to Alexa? We have some suggestions. Mark Purdy, co-founder and director of Beacon Thought Leadership is also an economist and tech enthusiast. He shares his ideas on the impact of artificial intelligence on decision-making - in industry, in society and in our individual lives.

Chapters:

[00:00] Introduction: The rise of AI and its global influence
[02:15] Mark Purdy’s Journey: From economics to AI research
[06:45] AI as a Decision-Making Tool: Advantages and limitations
[12:10] Human Judgment vs. Machine Precision: Why judgment still matters
[16:20] The Future of Work: How AI may impact jobs and skill-building
[21:00] Ethics, Bias, and the Risks of Automation: What we must watch out for
[25:10] Final Thoughts: The future of AI and maintaining human control

Key Quotes:

“Human judgment must always be part of the equation. The machine can process data, but only we can make ethical decisions.”
“Generative AI is a liberator of time—if we use it the right way.”
“The greatest danger with AI is putting too much trust in it. We must stay in control.”
“You can’t learn a skill by letting technology do it for you.”

Key Takeaways:

AI can improve decision-making by offering data-driven insights and removing mundane tasks, but human judgment and ethics are still critical.
Bias in AI algorithms remains a risk because they learn from historical data, which can reflect existing inequalities.
AI is transforming industries like legal analysis and recruitment but raises concerns about job displacement and the loss of entry-level roles that help build expertise.
Maintaining expertise currency is essential. Relying too heavily on automation may erode critical skills over time.

Links & Resources:

Learn more about Mark Purdy’s work in economics and AI https://markpurdy.co.uk/

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The Art of Deciding has been featured in The Guardian Podcast Newsletter, Podnews, The List, and the Podbible newsletter, amongst others.

The Art of Deciding is produced by Podcart - https://www.podcart.co.uk/

Series Producer: Jayne Morgan

Bruce Whitfield is an award winning journalist, best-selling author and speaker https://www.brucewhitfield.com/

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