Artificial intelligence has the potential to transform nearly every aspect of our world, including the economy. In this year’s George Staller Lecture, economist Jens Ludwig will explore how “big data” and AI tools help us understand and improve human decision-making. His talk, “Economics and AI” will be on Thurs., Oct. 12 at 4:30 p.m. in Statler Hall, Room 185. The talk is free and the public is welcome.

 
Many important decisions hinge on predictions, such as doctors’ diagnoses, HR productivity assessments, lenders’ repayment forecasts and judges’ predictions of recidivism. The development of behavioral economics has helped economists see just how off people might be in their judgments, said Ludwig, the Edwin A. and Betty L. Bergman Distinguished Service Professor at the University of Chicago.
 
“Human intelligence is fallible,” Ludwig said. “But the growing availability of ‘big data’ and new tools from artificial intelligence now make it possible to better understand these human judgments, and even improve them – which, as we will see, can have potentially enormous consequences for the economy and society as a whole. Is economics on the verge of a whole new ‘machine learning revolution’?”
 
Read the full story on the College of Arts and Sciences website.