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DataFramed#168 Causal AI in Business with Paul Hünermund, Assistant Professor, Copenhagen Business SchoolThere are a few caveats to using generative AI tools, those caveats have led to a few tips that have quickly become second nature to those that use LLMs like ChatGPT. The main one being: have the domain knowledge to validate the output in order to avoid hallucinations. Hallucinations are one of the weak spots for LLMs due to the nature of the way they are built, as they are trained to correlate data in order to predict what might come next in an incomplete sequence. Does this mean that we’ll always have to be wary of the ou...2023-12-1850 min
EU UntangledCan the EU engineer innovation?
Innovation is at the heart of human progress. The printing press, the steam engine, the automobile, and now AI have led to industrial and social revolutions. In modern history, Europe has been the cradle of countless technological innovations, but more recently, it seems to be playing catch-up with other regions. The EU is aware of this, and it has ambitious plans in store to ramp up innovation in the digital age. The million-dollar question is: can the EU succeed?
In today’s episode, we discuss what innovation is, why it matters, and what the EU is doing to...2023-09-211h 00
Changelog Master FeedCausal inference (Practical AI #220)With all the LLM hype, it’s worth remembering that enterprise stakeholders want answers to “why” questions. Enter causal inference. Paul Hünermund has been doing research and writing on this topic for some time and joins us to introduce the topic. He also shares some relevant trends and some tips for getting started with methods including double machine learning, experimentation, difference-in-difference, and more.
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Practical AICausal inferenceWith all the LLM hype, it’s worth remembering that enterprise stakeholders want answers to “why” questions. Enter causal inference. Paul Hünermund has been doing research and writing on this topic for some time and joins us to introduce the topic. He also shares some relevant trends and some tips for getting started with methods including double machine learning, experimentation, difference-in-difference, and more.Join the discussionChangelog++ members save 3 minutes on this episode because they made the ads disappear. Join today!Sponsors:Fastly – Our bandwidth partner. Fastly powers fast, secure, and scalable...2023-04-2542 min
REvaluation PodcastFolge 4 - Do storks bring babies? Keynote on causality by Paul HünermundThis episode is on experimentation as a tool to understand causality in statistics. The moderators take this as an occasion to do an "experiment" in the common sense themselves and produce a complete episode in English.Paul Hünermund of Copenhagen Business School held this keynote speech during the REvaluation Conference '22. Presentation slides to his speech [PDF]Resources:The Experimental Research Funder’s Handbook by RoRIEconometrics for R&I Funders - 2021 event documentationMentioned contributions on experimentation to the REvaluation conference proceedings:Landon, Tess und Hochreiter, Harald (2022) Randomised controlled trials and oth...2023-01-2939 min
Product Quest PodcastEpisode 32: The Art and Science of Causality with Paul HuenermundDecisions shape the future. Making better decisions is critical for people and for society.
Businesses make strategic decisions all the time about where to invest, who to partner with, where to
advertise and much more. Customers make decisions about what products to buy and to use. Innovators, designers and engineers make decisions about what to build so that customers purchase and use what they make
Businesses have become more and more data-driven, with data science becoming ubiquitous, but
conventional data science has its limitations.
In this episode we discuss why understanding causality is...2023-01-231h 24
הרס יצירתיפרק 24: איתמר כספי על אינפלציה ומאשין לרנינגאיתי ואריאל מראיינים את ד"ר איתמר כספי מחטיבת המחקר בבנק ישראל. מאיפה פתאום חזרה האינפלציה לחיינו? מה זה בכלל אינפלציה? האם המענקים שאריאל קיבל ייקרו את חיינו? בנוסף שוחחנו על הקשר בין למידת מכונה ודאטה סיינס לכלכלה ועוד.
הוקלט בתאריך: 09.06.2022
מקורות:
Itamar Caspi Twitter
אסופת שרשורי טוויטר נבחרים של איתמר.
הרס יצירתי פרק 3: דרור גולדברג על כסף ותאוריה מוניטארית
Mercatus Center - Macro Musings Podcast
Oren Barkan, Jonathan Benchimol, Itamar Caspi, Eliya Cohen, Allon Hammer, Noam Koenigstein (2022) - Forecasting CPI Inflation Components with Hierarchical Recurrent Neural Networks
Paul Hünermund, Beyers Louw, Itamar Caspi (2022) - Double Machine Learning and Automated Confounder Selection -- A Cautionary Tale
2022-06-161h 11
New Things Under the SunInnovation (mostly) gets harderOne of the most influential economics of innovation papers from the last decade is “Are Ideas Getting Harder to Find” by Bloom, Jones, Van Reenen, and Webb, ultimately published in 2020 but in earlier draft circulation for years. While the paper is ostensibly concerned with testing a prediction of some economic growth models, it’s broader fame is attributable to it’s documentation of a striking fact: across varied domains, the R&D efforts necessary to eke out technological improvement keep getting higher. Let’s take a look at their evidence, as well as some complementary evidence from other papers.T...2022-01-2021 min
Game Changer - the game theory podcastCause and effect – or why the 2021 Nobel Prize is nothing less than an empirical revolution | with Paul HünermundIn this episode Paul Hünermund explains why the Nobel prize in Economics this year was given to the three researchers David Card, Joshua Angrist and Guido Imbens and what companies can learn from their research. We talk about how natural experiments sparked an empirical revolution and how machine learning can help us establish causal links to find the answer to everyday questions. Paul Hünermund is assistant professor of Strategy and Innovation at Copenhagen Business School. In his research he focuses on how firms can leverage new technologies in the space of machine learning and...2021-11-2323 min