Analytics in the Era of Big Data: Opportunities and Challenges
This special issue of Knowledge@HEC highlights several research projects and teaching initiatives at HEC Paris in the context of big data and business analytics. Nowadays it does not take much to convince students or managers alike of the importance of data for businesses. As Wedel and Kannan (2016) put it, “data is the oil of the digital economy”. Indeed, data is completely transforming organizations, and data-driven decision making is becoming more and more a part of a company’s core. In an increasing digital world, all of us are walking data generators, leaving long data trails: we have more data on everything.
Learning algorithms: lawmakers or law-breakers?
In everyday technologies, learning algorithms are becoming ubiquitous. They are even changing the way laws and regulations are produced and enforced, with law increasingly determined by data and enforced automatically. In his study, David Restrepo Amariles investigates how learning algorithms are developing SMART Law to improve the quality of regulations and their enforcement, and how this can be achieved without infringing on our civil liberties and the rule of law.
CSR and Legal Liability: How to Foster global Standards and Enforcement?
Can standards and other regulatory devices established by corporate social responsibility (CSR) practices be likened to legal rules and standards? Yes, according to David Restrepo Amariles and Arnaud Van Waeyenberge, who have demonstrated that CSR increasingly operates as a genuine normative system and can even stand in for the law. This is an important development in a time when, as illustrated by the 2017 list of the 100 Most Sustainable Corporations in the World, corporations, especially in France, are increasingly proactive when it comes to CSR practices.
Smart Law: Regulating by Big Data and Algorithms
The idea of a law that is Scientific, Mathematical, Algorithmic, Risk and Technology (SMART) driven is becoming a reality that deserves all our attention. SMART Law raises at least two complementary questions. The first concerns issues related to data protection and privacy. The second, which is discussed here, concerns changes in the law entailed by Big Data.
The global enforcement of U.S. law and its implication for European corporate governance
The jurisdiction of US economic sanctions is far greater than many businesses realise. French banking corporation BNP Paribas recently agreed to pay the US government the astronomic amount of 8.9 billion dollars, for doing business in sanctioned countries such as Sudan, Iran and Cuba. In their study, David Restrepo Amariles and Matteo Winkler investigate what this means for the future of European corporate structure.
Will the TTIP lead to a “race to the bottom” in environmental and health protection?
The trade deal currently being negotiated between the US and the EU is one of the most ambitious ever conceived, with a chapter dedicated to promote the convergence of the respective policies across the Atlantic. While this has triggered fears of a “race to the bottom”, i.e. to lower health and safety standards, a new paper argues that the treaty could actually be a chance to “level up” instead of down.
Power to the people: Citizens should soon have more voice to sway policy
HEC Paris professor Alberto Alemanno says civic movements like ‘Nuit Debout’ are good for democracy but, in order to have their voice truly heard, need a professional leg-up in the form of citizen lobbying. An organization he is involved in and a book he is writing aim to pair up experts with NGOs to help them act as a counterweight to big business lobbying.
Indicators, indexes and rankings: when numbers challenge legal analysis
The legal field has experienced rapid increases in the use of indicators, which give quantitative measures of aspects such as the extent of the rule of law. A new paper takes a closer look at why and how these legal metrics have emerged and what it means for governance.