AI and Calculating Risk

Apparently, we dread making work decisions the most. 

Popsci published interesting findings from a psychological study on the life decisions we fear the most. We fear the ones we think are the riskiest. Here’s the top 5:

1. Accept a new job
2. Quit one’s job without an alternative
3. Invest money
4. Drive a car
5. Become self-employed

Three of the top 5 relate to our work. To be honest, I’m a little surprised by a lot of this. First, how is quitting without an alternative riskier than accepting a sure thing? And don’t get me started on “drive a car.” I can only assume that the (in)famous “Mechanized Death” video has been reinserted into High School driver’s education training.

If we acknowledge the connection between our work and our finances, then we see that 4 of the top 5 have a financial component. 

My current daily life requires me to make decisions around all of these top 5. Not that I’m offered a job, quitting a job, or becoming self-employed each day, but that I’ve made these decisions recently, and have to live with their outcomes each day. I roll them around. Question them. Often want to change them. And yes, investing as well, because my previous investments are now funding those decisions. 

How does one accurately calculate these risks? Is there such a thing, or are these risks a feeling?

AI can help us with the math part of this, if that exists (it does).

But it can’t help with the feeling. That’s all you.