However, Leicester still have reason to believe their dream run on their first appearance in the Champions League can continue when the sides meet again on April 18.
"It was one of the major decisions in the game", he said.
"Maybe [it can provide motivation, but] we have a game at the weekend so we need to put it out of our minds as soon as possible and move on".
Shakespeare said: "I've just told Wes in there that when we get back to the hotel, he's getting his kit on, going to the gym and making sure he does a session".
Leicester City boss Craig Shakespeare says he is not surprised by Crystal Palace's revival under Sam Allardyce.
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Albrighton also admitted he would welcome video replays in the Champions League to avoid mistakes after Eriksson's blunder.
Robert Huth - who will be banned for the second leg after being booked - saw a shot blocked and Shinji Okazaki narrowly failed to make contact with a low cross in the best of Leicester's rare raids forward.
It was the France international's more obvious quality that earned Atletico the opener as his searing pace spread panic in the Leicester defence and Albrighton bundled him over.
Leicester's task would have been much easier if the referee hadn't awarded Atletico the controversial penalty kick that led to Antoine Griezmann's winning goal in the first half.
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Andy King's introduction at the halftime interval did seem to spark some life into Leicester's attack, but they still didn't create too many clear-cut chances. "They bet everything on the second leg".
One witness speaking to BBC 5 Live said: "There were a couple of people who probably antagonised the police, but then they took it out all these people here. It's a free-kick, it's a definite free-kick, but it's outside the box".
"We still have a challenge ahead against a very good team, but we are aware of what we need to do for the second-leg". We have a very good record at the King Power, our fans enjoy these Champions League nights.
Leicester's official fan allocation was around 2,800 for the match at the Vicente Calderon, which ended 1-0 to the hosts, thanks to a disputed penalty.
Palace have won five of their last six matches to haul themselves six points clear of the relegation zone.
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Ben Affleck arrives at the European Premiere of Live by Night at the British Film Institute in London, Britain January 11, 2017. The production team are searching for a director for the new stand-alone Batman movie, after Ben Affleck pulls out.