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Judgments: Data, Discernment, and Diversity
Rapid advances in data storage and computer processing power, matched with growing innovations in machine learning and more broadly in artificial intelligence (AI) have created new boundless opportunities in improving decision making under uncertainty.

However, in many instances, especially in socio-economic domains despite the presence of much data, there often exist severe limits to predicting the future. Examples abound in judgments related to policy, investments, business, health, or even personal pursuits such as happiness. We continue to look for shelter in “engineered models” to accurately predict future outcomes. In doing so, we frequently go too far and often end up underestimating the role of chance and what we don’t control, we overestimate our ability to predict the future, underestimate risk and uncertainty, and hence fall prey to Illusion of Control with all its potential costs.

The talk will discuss the role of data analytics, human judgment, and the role of diversity, among other things, in improving the quality of our judgments.

This session is specially run in conjunction with the INSEAD Digital Alumni Reunion, on special request from the classes of MBA'95J&D, MBA'00J&D, MBA'05J&D.

Nov 7, 2020 11:00 AM in Paris

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