Modern Wisdom #144 - Martin Schmalz - Artificial Intelligence, Big Data & China
Feb 20, 2020
Martin Schmalz, a Finance Professor at Oxford and author of "The Business of Big Data," dives into the intricate web of AI, big data, and their global implications. He reveals how the speed of completing online forms can affect your credit score and discusses ethical dilemmas in flight pricing and insurance risk evaluation. Schmalz contrasts data privacy laws in Europe and the U.S. and explores the societal impacts of technological advancement, emphasizing the need for human insight in decision-making within a rapidly evolving digital landscape.
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Episode notes
Form Filling and Risk
- The speed of filling online forms and typos are now used to predict loan defaults and insurance risks.
- These seemingly insignificant data points reveal information about a person's character and behavior.
Skyscanner Dynamic Pricing
- Chris witnessed a flight price on Skyscanner surge by £300 while he was looking.
- He suspects dynamic pricing based on his interest, demonstrating how companies exploit user data.
Email Addresses and Demographics
- Car insurers use email addresses like AOL or Yahoo to infer age and target specific demographics.
- This isn't about the email provider itself, but its correlation with other characteristics.
