Shared decision-making is a process where patients and healthcare professionals share the best evidences, information, and the patient’s values and preferences to collaborate and make decisions together. The concept of shared decision-making is also applied to the practice of medicine as well as the field of psychiatry. This paper provides a narrative review on shared decision-making in a field of general medicine and psychiatry, respectively. Several decision-making models that can be used in the practice of medicine are discussed and specific barriers and limitations that hinder shared decision-making to be applied in psychiatric practice is also overviewed. In addition, the authors take a deeper look into the application of artificial intelligence technology to develop or support shared decision-making in the field of medicine, and the concept of psychiatric advance directives, which is a legal document that allows an individual to specify the preferred treatments in the event of a mental health crisis. Development of proper models for application of shared decision-making in the field of general medicine or that of psychiatry is still in its infancy and future studies with various clinical circumstances and appropriate cutting-edge technologies such as artificial intelligence are warranted.