This week, we will be hearing Vasant Dhar from New York University present, “Big Data and Innovation: When Should We Trust Robots with Decisions?” based on his paper “Should You Trust Your Money to a Robot?”, and related research “Data Science and Prediction” and “Big Data Predictive Analytics in Healthcare.” Below is the abstract:
Should you trust your money to a robot? Should you trust your child’s education to a robot? Your health? Big data has pushed machine learning to new frontiers, with machines increasingly training themselves on data to make good decisions. We seem to be at a point where we will increasingly trust machines with transportation, so it is natural to ask the question more broadly about the role of machines in other major decisions in our lives. I discuss data driven machine learning in finance, education and health, highlighting their differences in terms of predictability and cost-benefit tradeoffs, and the implications of these differences for the design and evolution of man machine systems.
Kindly note that November 11th is a holiday, so we will meet at 11am on November 10th, in the Coleman Fung Institute (between Soda and Sutardja Dai Halls).
In our reading seminar, we will be discussing Galasso and Schankerman’s recent Quarterly Journal of Economics article, “Patents and Cumulative Innovation: Causal Evidence from the Courts.” Alberto will be Skyping in.
Last week, we heard from Sabrina Howell, also from NYU, share her preliminary analyses of accelerator data. She has discovered that competition results and judges’ scores are predictive of funding and success, but that in kind resources have negligible impact.