Fast thinking? Slow thinking? What’s the difference? And when should you use one vs the other?
More than just pithy twists of phrase, these two types of thinking were defined in the best-selling 2011 book Thinking Fast and Slow by the late Nobel Prize winning psychologist Daniel Kahneman. The phrases quickly found a home in business vocabulary as two primary ways people consider and make decisions.
There’s a number of important reasons why they have become so prevelant
- Consider the sheer volume of information that rains down on us every day, usually delivered quickly, loudly and alarmingly
- Think about how much time of any given day we make instantaneous decisions, often because …
- There’s always more and more work to do, more goals to achieve with better outcomes than before, with …
- less and less time to get all of it done.
It’s no wonder in a life of speed and complexity that to keep us from going insane from the chase, our brains have found new ways to think.
Common Thinking in Two Ways
In his book, Kahneman divides our common thinking into System 1 (the intuitive system) and System 2 (analytical system).
System 1 (“Intuitive”) is … | System 2 (“Analytical”) is … |
|---|---|
Quick | Slow |
Shallow | Thorough |
Automatic: We’re unaware of it starting | Conscious: Must be intentionally activated |
Effortless | Deliberate |
Logical | Emotional |
Prone to bias and heuristics * | Considered |
Best for routine or familiar situations or quick decisions, often based on the past or patterns. | Best for complex or nuanced situations or conscious thought, and/or when self-control is necessary. |
Kahneman explains people jump between these two types of thinking all day long, and when necessary, one system will help the other system. For example:
When Intuitive/Fast Thinking encounters a complex or unfamiliar situation – which typically requires focus, attention or additional thought – Analytical/Slow Thinking will kick in to help people make a better decision.
Or,
If there are errors in Intuitive/Fast Thinking – using bias for example – Analytical Thinking can and will override or correct the situation or decision.
* If you don’t know much about heuristics, check out this post for definitions and examples.
When You Could/Should Make a FAST Decision
Like every decision we make in life, the choice to use either Fast or Slow Thinking has both advantages and disadvantages.
Here’s the list I’ve been compiling on Fast and Slow Thinking to aid someone in deciding which mode of thinking may be most productive.
That said, always consider the context of the situation.
Fast Thinking is ideal when ...
The risk or impact is low
It’s imperative to move fast, as the decision or next steps (are) …
- time sensitive
- urgent
- ensures momentum
- leads to gathering more information or detail
It’s a familiar situation (“business as usual”), or it’s a similar situation where past experience and intuituion are instructive
The decision is obvious, or two options are generally the same, or they’d create the same outcome
The context requires a decision be made, but the risk of inaction is higher than the risk of action
Any decision can be changed or reversed if necessary without damage
Fast Thinking is less effective when ...
There’s a risk of irreversible or unnecessary errors
The decision maker relies too heavily on heuristics or bias, or simply doesn’t have the time to delve more deeply into critical information
(Click here to read an article on bias, or click here to download a PDF chart of common bias in decision making)
There’s a chance someone chooses to act impulsively, particularly if they do not consider the consequences or have not brainstormed other, better options
The situation is complex or unfamiliar, or there are many “moving parts” (many people involved, each with their own agenda and actions for example)
The decision maker’s ego becomes the most dominant issue
The situation is fraught with emotions
The decision requires looking at the bigger picture, or planning long-term goals, or facing future challenges or opportunities
When You Could/Should Make a SLOW Decision
Slow Thinking is ideal when ...
There are long-term implications
The situation, background, key people or question is complex
Multiple people, departments, teams or stakeholders are involved, or must be engaged or consulted
The decision has significant consequences
The process needs to be grounded in empathy
Any decision has considerable risk, or would be difficult to reverse
The decision maker lacks experience with a particular decision, situation or a specific stakeholder (working with the CEO, for example)
Intuition isn’t forthcoming
More time is needed for collaboration, creativity or innovation, to explore additional solutions or outcomes
There are several worthy – but competing – ideas to consider
There is a lot of time before a decision is necessary
Key information isn’t available, or hasn’t been effectively reviewed
You need to HALT
The impact or consequence is significant (“the stakes are high”)
Slow Thinking is less effective when ...
The decision, best result or conclusion is obvious, practical
Speed or decisiveness is vital
There’s a chance of missed opportunities, especially in a fast-paced industry or environment where immediate decision are necessary
Prolonged deliberation causes overthinking, analysis paralysis or decision fatigue (Again, see HALT)
True creativity is essential
Collaboration feels lacking of cooperation or collaboration
Biases are rampant – or worse, encouraged!
Some Key Lessons to Consider
First and foremost, learn about yourself: how do you think and make decisions now? As a mentor once asked me (stopping me up short): Do you feel like you’re making good decisions today?
Do you default to one style of thinking or decision-making? Do you find yourself adjusting to suit the environment or by others’ demands and reactions, but not listening to your own?
How often or how much do you rely upon emotions or your intuition (‘gut reaction’) to make decisions? Fast thinking is often based on impulsive emotions. Do you know what emotions tend to influence your thinking and decisions?
How often do you find yourself swamped with information? How do you work past analysis paralysis?
By recognizing how these two different systems work, you also begin to realise there may be other methods or ways to improve decision, learn more quickly, and become a more effective decision maker.
One last point: a great post and accompanying chart on how Fast Thinking evolved into Slow Thinking.
Any thoughts or comments on Fast vs Slow Thinking? Please add your comments or thoughts below.
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