“A $%^* Sexist Program”: Detecting and Addressing AI Bias
A major issue facing companies that use AI, algorithmic bias can perpetuate social inequalities — as well as pose legal and reputational risks to the companies in question. New research at HEC Paris offers a statistical method of tracking down and eliminating unfairness.
How Can We Force Companies To Keep Our Data Safe?
With online shopping, loyalty programs, smart devices and many other aspects of business and daily lives, companies collect vast amounts of our personal data. The risk is that they may be leaked or misused. A team of researchers designs measures that regulators and companies can undertake to preserve consumer privacy.
How Big Data Gives Insight Into Investor Uncertainty
Investor uncertainty plays a key role in economics, affecting asset prices and investment decisions. Getting a useful measure can be important to financial professionals and also government actors, to establish monetary policy. An HEC Paris researcher and two economists of the US Federal Reserve’s Board of Governors found a new way to gauge uncertainty: using data on internet clicks related to specific news.
Big Data and Investment Returns: Insights by HEC Professor Hugues Langlois
Hugues Langlois, Assistant Professor of Finance at HEC Paris, shares the practical applications of his research about big data methodologies in finance, and how it provides a new tool to measure expected returns in international stock markets. A big step in the world of finance for asset managers and risk managers.
En Route For The “Sexiest Job Of The 21st Century"?
Big data has been a key challenge for many sectors or industries such as aeronautical, transport, consultancy, banking and insurance, energy, telecommunication and, of course, digital, e-commerce and media. 3 billion internet users generate 50 Trillion objects (To) of data per second, a figure which is set to increase forty-fold by 2020. Today, the development of analytical skills for business and management has become a necessity. To respond to this need, HEC Paris is investing with a new joint Master Big Data for Business in collaboration with l’Ecole Polytechnique, set to begin in September 2017. It will provide students with the tools necessary to transform the data into useful knowledge and strategic decisions. After all, even Harvard Business Review has dubbed the occupation of data scientist “The Sexiest Job of the 21st Century”…
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.
New Computer-Friendly Format Makes Financial Reports More Complex, Harder to Read
In a bid to make it easier for financial reports to be processed by computers, these must now be submitted to the U.S. Securities and Exchange Commission in a new language in addition to the traditional HTML format. In their recent study, Xitong Li, Hongwei Zhu and Luo Zuo explore how adopting the eXtensible Business Reporting Language (XBRL) is leading to more complex HTML-formatted financial reports. Instead of saving time and money, they find that submitting additional XBRL-formatted reports is costly to firms.
Can Algorithms Measure Creativity?
Creative breakthroughs in art, music, and science profoundly impact society, and yet our understanding of creativity and how it is valued remains limited. To better understand creativity and how creative output is valued in society, a researcher is using a computational model, based on big data approaches, to evaluate the creative merit of artworks.
Widening the scope of your CRM campaigns to take advantage of customer social networks
Marketing campaigns traditionally target individual customers, while ignoring their social connections. In a recent study, however, Eva Ascarza, Peter Ebbes, Oded Netzer, and Matt Danielson, had unique access to telecommunications data and a field experiment that enabled them to take a first-ever look into the effects of a traditional customer relationship marketing campaign on social connections.