On this episode of "After Hours, in partnership with Tanqueray Africa," we speak with Nimara Newa, a clinical psychologist and creative writer, about cognitive biases and their impact on decision-making in the tech ecosystem. Hosted by Alice Kanjejo, this special International Women's Month edition explores how our subconscious thought patterns influence business decisions and team leadership.Nimara explains that while our brains process millions of bits of information subconsciously, we consciously focus on only 50-60 bits. To manage this gap, our minds create shortcuts (cognitive biases) that prioritize efficiency over accuracy. These biases can be both beneficial and detrimental to business success.The conversation explores five key cognitive biases:1. Confirmation Bias: We tend to seek information that confirms what we already believe rather than looking for contradictory evidence.2. Anchoring Bias: The first piece of information we receive heavily influences how we process everything else—something marketers and negotiators use strategically.3. Bandwagon Effect: Jumping on trends because they're popular without thoroughly researching them—like the NFT boom.4. Sunk Cost Fallacy: Continuing to invest in failing projects because of previous investments rather than cutting losses.5. Dunning-Kruger Effect: Newcomers overestimating their abilities while experienced professionals recognize complexity and approach challenges with appropriate caution.Alice and Nimara emphasize the importance of awareness and team diversity to combat these biases. They note that 60% of businesses fail due to poor decision-making, often stemming from unchecked biases. The conversation underscores the value of including different perspectives, creating safe spaces for dissenting opinions, and implementing strategies like designated "devil's advocates" in meetings.The conversation reminds tech founders and ecosystem players to balance conviction with awareness of their cognitive biases, creating more holistic approaches to business challenges.The episode concludes with reflections on what it means to be "unmistakably her" during International Women's Month. Nimara shares that for her, it means embracing both traditionally feminine and masculine traits, pushing boundaries, and helping others explore beyond societal expectations._________________________________________________________________Join Alice as she explores the world of tech and shares impactful stories with guests on My Tech Story Africa!Subscribe to our podcast, drop a like, comment, and hit the notification bell to stay updated with our latest content.Don't forget to spread the word! Sharing is caring! 🌟Follow us on social media:📸 Instagram: / mytechstoryafrica 💼 LinkedIn: / my-tech-story-africa ♪ TikTok: / mytechstoryafrica Join our community: [https://www.mtsafrica.co/join]Interested in being a guest on the podcast? Apply here: https://forms.gle/ffAniezzFHoEvhPY7Interested in partnering with us? Drop us an email: mytechstory.ea@gmail.com 📧