Suppose you earn a fortune and decide to do a business startup. You are excited about the idea, but some statistics change your mind. You know that many startups fail because the idea is poor, partners are not committed to the business, or the idea is conceived poorly. You know that 90% startups fail within the first year. If your startup wouldn’t last for a year, you feel like investing resources in a venture would be a mistake. You live in the age of technology, and you heard that a company has released an AI model that can predict your likelihood of failure. The model is trained on datasets comprising hobbies of individuals, social media activities, online search histories, spending habits, and history of startups and failure. Based on this information, the AI can predict if a startup will fail within the first year of operations with 95% accuracy. The only problem with the model is that it does not give reasons behind its results. It simply predicts whether you will fail or won’t fail without saying why. So, should you make a business decision based on this AI prediction? Suppose the model predicts that your startup won’t last for……
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