In this article from McKinsey, Controlling machine-learning algorithms and their biases, they make the point that while machine-learning is good to avoid human bias in decision making, the algorithms themselves are not free of bias. Let me say it in another way: “Garbage in – Garbage out!” McKinsey make the point that the designers of
At the RMIA Conference in Canberra a couple of weeks ago there were several speakers discussing very high-risk environments such as journalism from the front lines of Iraq. One of the keynotes was by Jerry Grayson, a helicopter pilot in the Royal Navy. As well as talk about high-risk environments, he also made a comment
Recently one of my readers recommended to me Team of Teams by General Stanley McChrystal et al. It is an excellent book. For those time poor, these four equations neatly summarise McChrystal’s views about complexity: 1. Complexity + Efficiency ≠ Success 2. More Factors + More Interdependency = More Uncertainty 3. Problem
Ex-CEO of CBA and founding Chair of the Australian Government Future Fund, David Murray, wrote a piece in Business Insider recently about the collapse of trust in Australian banks. He writes, “Some specific experiences have led me to believe that the solution is more about good systems, good controls, and consistent behaviour by top executives than
Lightspeed is fast. Really fast. If you followed The Hitchhiker’s Guide to the Galaxy series from the late 1970s and early 80s you would know how fast “really fast” is. A bit faster than when you travel in hyperspace. Because of my full appreciation of the speed of light I was immensely pleased to read