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Women Shaping Global Economic Governance

image of Women Shaping Global Economic Governance

Women Shaping Global Economic Governance brings together contributions from leading policymakers and thought leaders from all across the world on how to shape our economies. Written entirely by women, this book is not about women. It is written by women who want to encourage everyone, including the 50% of the global population that are women, to contribute to shaping economic governance at a time where the world is impacted by a digital, environmental and social revolution. The essays and observations show women analysing the challenges confronting economic governance and formulating concrete proposals for how to navigate this period of turbulence.

English

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Governance in the era of data-driven decision-making algorithms

Massive streams of human behavioural data, combined with increased technical and analytical capabilities (in particular, data-driven machine-learning methods), are enabling today’s companies, governments and other public sector actors to use datadriven machine learning-based algorithms to tackle complex policy problems (Willson 2016). Decisions with both individual and collective impact that were previously taken by humans – often experts – are nowadays taken by data-driven artificial intelligence systems (i.e. algorithms), including decisions regarding the hiring of people, the granting of credits and loans, judicial judgements, policing, resource allocation, medical diagnoses and treatments, and the purchase/sale of shares in the stock market. Data-driven algorithms have the potential to improve our decision making. History has shown that human decisions are not perfect – they are subject to conflicts of interest, corruption, selfishness/greed and cognitive biases, which result in unfair and/or inefficient processes and outcomes (Fiske 1998). The interest in the use of algorithms can therefore be seen as the result of a demand for greater objectivity in decision making and for a better understanding of our individual and collective behaviours and needs.

English

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