Enhancing Subjective Valuation using Artificial Intelligence
Author : Babu S and Parameswari P
Abstract :
Subjective valuation is the process of assessing the worth, desirability, or importance of something based on individual preferences, experiences, and personal judgment. It is a fundamental aspect of decision-making and plays a crucial role in various domains such as economics, psychology, marketing, and finance. However, subjective valuation is inherently complex and can be influenced by various biases and inconsistencies, leading to suboptimal decision-making outcomes. Large number of students attend subjective type exam. For evaluation of such large number of papers manually required hard efforts. Sometimes quality of evaluation may change according to mood of evaluator. The evaluation work is very lengthy and time consuming. Competitive and entrance exams typically contain objective or multiple-choice questions. These exams are evaluated on machine as they conducted on machine and therefore their evaluation is easy. It also saves multiple resources and human interaction and hence it is errorless. There is multiple system are available for evaluation objective (MCQ) type question but there is no provision for subjective (Descriptive) type question. It will be very helpful for educational institutions if the process of evaluation of descriptive answers is automated to capably assess student’s exam answer sheets.
Keywords :
Subjective answer, artificial intelligence, human intelligence, expert systems, machine learning, deep learning
