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AI & Decision-Making with Derek Gibson

Dive deep into the world of AI with Derek Gibson, a veteran in banking and data governance. Discover how AI is reshaping decision-making, sparking creativity, and challenging our notions of data privacy. This conversation is a must-watch for anyone eager to understand the evolving landscape of data science and the critical role of continuous learning. Don't miss out on these insights that could redefine your approach to technology and innovation! Read his book "Data Duped" https://dataduped.org/ for examples of many stories where data wasn't used to make decisions. One is the story of Elizabeth Holmes and her now infamous startup company Theranos. All the data about Theranos and their medical testing machine pointed to impossibilities. Yet, many accomplished people joined her board, and venture capitalists poured in billions of dollars. They were all convinced by a small amount of data and their own confirmation bias. This story, to a lesser degree, repeats often in the corporate world. Another relatable example of over-reliance on averages is an anecdote about a company designing a product for families and children. U.S. Census data tells us the 'average' family has 2.4 children. In response, retailers design a product for 2-child families (rounding down). However, the number of families with exactly 2 children is 53%. The takeaway is if they only focus on the average customer they will miss nearly half of the market. Chapters: 00:00:00 Introduction to Derek Gibson 00:03:00 The Role of Data in Decision-Making 00:09:00 AI's Impact on Creativity and Society 00:15:00 Data Privacy in the Digital Age 00:21:00 The Future of Data Science and Learning Keywords: #ai #dataanalytics #decisionmaking #dataprivacy #decision #creativity #datascience #datascientist #learning