Critical Thinking (Ct) Skills Gap in Data-Driven Decision (Ddd) Making: An Exploration in the Banking, Financial Services, and Insurance (Bfsi) Industry


In the era of AI-supported business operations, the underutilisation of critical thinking by employees poses a significant challenge. By relying on AI systems for decision-making, organisations risk overlooking the invaluable insights and creative problem-solving abilities that critical thinking brings. Harnessing the power of critical thinking in conjunction with AI technologies holds the key to unlocking untapped potential and achieving optimal outcomes in today's complex business landscape. Banking, financial services and insurance companies are leading employers for business graduates. With heavy usage of data in the BFSI companies' departments, graduate employees make data-driven decisions that impact businesses. Hence, decision quality is crucial for graduate employability and business success. Critical thinking for decision-making is proven to be an effective way for quality decisions. Nevertheless, critical thinking usage in data-driven decision-making in banking, financial services and insurance companies remains unexplored. A skill gap analysis shall throw light on the employer expectation vs satisfaction on graduate data-driven decision quality using critical thinking. This research explores the perception/expectation and satisfaction of the Banking, financial services and insurance employers on graduate employees' data-driven decision outcomes, and the critical thinking skill usage by data-driven decision makers is analysed to find out if there is an evident gap in the same. This article highlights the significance of critical thinking and data-driven decision-making in AI-driven businesses. The research indicates that while critical thinking is crucial, it is currently lacking among employees. The findings emphasise the importance of incorporating critical thinking in business studies.

Author Information
Anu Jossan, Al Rayyan International University College - University of Derby, Qatar

Paper Information
Conference: ERI2023
Stream: Instructional Design and Learning Sciences

This paper is part of the ERI2023 Conference Proceedings (View)
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To cite this article:
Jossan A. (2023) Critical Thinking (Ct) Skills Gap in Data-Driven Decision (Ddd) Making: An Exploration in the Banking, Financial Services, and Insurance (Bfsi) Industry ISSN: 2435-1202 – The IAFOR Conference on Educational Research & Innovation: 2023 Official Conference Proceedings
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Posted by James Alexander Gordon