Premise: Intuition is only of any use if it’s right more often than wrong.
Defining intuition is “an ability to understand something instinctively, without the need for conscious reasoning”. Or “something that one knows or considers likely from instinctive feeling rather than conscious reasoning”.
The science is more definitive. Modern day thinking is a definition that makes sense. That is “intuition can encompass the ability to know valid solutions to problems” This means ability to make relatively fast decisions without having to compare options.
Scientists now define intuition as “under time pressure, high stakes, and changing parameters, experts used their base of experience to identify similar situations and intuitively choose feasible solutions”, or a mixture of analysis and intuition, which is “pattern-matching process that quickly suggests feasible courses of action”.
That sounds very familiar.
In other words, intuition is making use of information, understanding it, deriving decisions from it and storing it away for future reference. A bit like watching a movie again after 10 years or learning multiplication tables, we know the outcome but not the details. We know that 9x8=72 so we know 8x9 is the same. Similarly, the more we experience, the more we know.
As the scientists say “Intuition is an immediate form of knowledge in which the knower is directly acquainted with the object of knowledge”.
Market Modelling and Intuition
This is an alternative definition of Market Modelling. Construe means ‘to interpret in a particular way’ or ‘to give the meaning or intention of; explain; interpret’.
Market Modelling does this and more. It holds information and the more of it the better and uses associations to derive results.
Results are used when conditions are met and we need to know an answer to current questions, fast. This is the Artificial Intelligence equivalent of intuition.
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