Bias and Noise: Daniel Kahneman on Errors in Decision-Making

Prof. Daniel Kahneman was awarded a Nobel Prize for his work on the psychology of judgment and decision-making. Read this interview with him about human/machine collaboration. Here is only one quote: At an insurance company, we measured what is technically called noise, and we did that in the following way: We constructed a series of six completely realistic cases that were given to 50 of their underwriters. We wanted to determine how much variability there was in their funding decisions. We expected differences between 10% and 15%, but in fact, they disagreed about 56% of the time. That’s a lot of noise… If you allow people to override algorithms, you lose validity because they override on the basis of their impressions, which are biased, inaccurate, and noisy. Decisions may depend on someone’s mood at the moment. For a job like underwriters, a simple algorithm can do just as well. Link1 Link2

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CUI – Conversational User Interface

Here are a few quotes from an interesting article “State of the conversation” written by Paul Campillo:  Eight trillion. That’s the number of text messages sent every year. For the record, that’s 23 billion texts sent every day. Or almost 16 million per minute. Talking computers. Conversational machines. “Smart” phones with virtual assistants. How did we get here? Where is all this heading? Today, there’s another fascinating technology trend propagated by film and literature. As it gains serious traction, it’s redefining how humans interact with technology forever—the conversational user interface (CUI). Will not Rules&Decisions play a key role in building intelligent CUIs?

Posted in Customer service, Natural Language Processing, Trends | Leave a comment

June-2018 Challenge “Credit Card Application”

More than 4 years ago on Jan 8, 2014 Nick Broom published one of the first real-world decision model “Credit Card Application” with an objective to demonstrate the newly introduced DMN standard version 1.0. Now, when many vendors announced their support for DMN, we want to use this simple model as June-2018 Challenge to compare different implementations using the best DMN practices and the latest versions of your favorite BR&DM tools.

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Better Rules Hackathon

The Better Rules Hackathon is happening on May 19-20 in New Zealand with the aim of exploring the ideas and practice of making legislation into machine consumable ‘digital rules’ that can be reused and integrated across domains for the benefit of businesses, individuals and communities. The hack challenges have a strong focus on the technical side of things and teams should be aiming for working prototypes.

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Intelligent Agent Cocoon in Forrester’s 2018 Predictions

IntelligentAgentCocoonForrester’s 2018 Predictions examine 13 market dynamics that will have the greatest impact on your business this year and beyond.  “Customer experience (CX) became the centerpiece of business strategy. In 2017 CX quality plateaued. In 2018, 30% of companies will see further declines in CX performance… Power has shifted away from institutions to customers.  Individuals will use intelligent agents to filter away the noise of the day… Platforms and associated intelligent agents will collect preferences, behaviors, transactions, and emotions, creating a rich view of an individual… Intelligent agents will use that data to increasingly influence consumer options and decisions.” No doubts DM will play a key role in creating those intelligent agents.

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Custom R charts coming to Excel

This week at the BUILD conference, Microsoft announced that Power BI custom visuals will soon be available as charts with Excel. You’ll be able to choose a range of data within an Excel workbook, and pass those data to one of the built-in Power BI custom visuals, or one you’ve created yourself using the API. Link

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Enterprise Ethereum Client Specification 1.0

Announced today, the Enterprise Ethereum Alliance has released the Enterprise Ethereum Client Specification 1.0. Until today, organizations had to create proprietary versions of a permissioned corporate Ethereum implementation. Thanks to the EEA’s new client spec, the global development community can now design their Ethereum solutions via a coordinated, interoperable foundation. Link

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