1. Recognize bias → Create better algorithmsCan we humans better recognize our biases before we turn the machines loose, fully automating them? Here’s a sample of recent caveats about decision-making fails: While improving some lives, we’re making others worse. Yikes. From HBR, Hiring algorithms are not neutral. If you set up your resume-screening algorithm to […]
Technology helps us discover meaningful patterns: Buying behavior, criminal activity, health effects. But when we succumb to pretty pictures and mindless measurement, shiny data fails to help answer important questions. Source: Tableau. This data visualization tool would be great for someone seeking crime stats – say, for law enforcement or house buying. But it doesn’t […]
1. Long view → Better financial performance.A McKinsey Global Institute team sought hard evidence supporting their observation that “Companies deliver superior results when executives manage for long-term value creation,” resisting pressure to focus on quarterly earnings (think Amazon or Unilever). So MGI developed the corporate horizon index, or CHI, to compare performance by firms exhibiting […]
Our founder, Tracy Allison Altman, will talk about cognitive bias and behavioral economics for software design @ Papers We Love – Denver. Tversky and Kahneman’s classic “Judgment under Uncertainty: Heuristics and Biases” challenged conventional thinking about bias in decision making, inspiring new approaches to cognitive science, choice architecture, public policy, and the underlying technology. Join […]