AIDA is Manulife’s Artificial Intelligence Design Algorithm. She’s fast, consistent and reliable. And she’s closing the protection gap for Canadians. Laura Yost, National Director of Retail Accounts sits down with Karen Cutler, Manulife’s Head of Underwriting and Claims, to discuss how artificial intelligence and Manulife’s culture of curiosity are re-shaping the insurance industry and helping more Canadians get the protection they need. Visit Manulife.ca/TheManulifeExchange to learn more
AIDA is Manulife’s Artificial Intelligence Design Algorithm. She’s fast, consistent and reliable. And she’s closing the protection gap for Canadians. Laura Yost, National Director of Retail Accounts sits down with Karen Cutler, Manulife’s Head of Underwriting and Claims, to discuss how artificial intelligence and Manulife’s culture of curiosity are re-shaping the insurance industry and helping more Canadians get the protection they need.
Visit Manulife.ca/TheManulifeExchange to learn more
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Daniel Kahneman’s Thinking Fast and Slow
Two systems drive the way we think and make choices, Daniel Kahneman explains: System One is fast, intuitive, and emotional; System Two is slower, more deliberative, and more logical. Examining how both systems function within the mind, Kahneman exposes the extraordinary capabilities as well as the biases of fast thinking and the pervasive influence of intuitive impressions on our thoughts and our choices. Engaging the reader in a lively conversation about how we think, he shows where we can trust our intuitions and how we can tap into the benefits of slow thinking, contrasting the two-system view of the mind with the standard model of the rational economic agent.
Kahneman's singularly influential work has transformed cognitive psychology and launched the new fields of behavioral economics and happiness studies. In this path-breaking book, Kahneman shows how the mind works, and offers practical and enlightening insights into how choices are made in both our business and personal lives--and how we can guard against the mental glitches that often get us into trouble.
Daniel Kahneman’s article in Harvard Business Review
Noise: How to Overcome the High, Hidden Cost of Inconsistent Decision Making
In Noise, Daniel Kahneman, Olivier Sibony, and Cass R. Sunstein show the detrimental effects of noise in many fields, including medicine, law, economic forecasting, forensic science, bail, child protection, strategy, performance reviews, and personnel selection. Wherever there is judgment, there is noise. Yet, most of the time, individuals and organizations alike are unaware of it. They neglect noise. With a few simple remedies, people can reduce both noise and bias, and so make far better decisions.
Packed with original ideas, and offering the same kinds of research-based insights that made Thinking, Fast and Slow and Nudge groundbreaking New York Times bestsellers, Noise explains how and why humans are so susceptible to noise in judgment—and what we can do about it.
Daniel Kahneman: Four Keys to Better Decision Making | CFA Institute Enterprising Investor
Even in testable domains where causal relationships are readily discernible, noise can distort the results. Kahneman described a study of underwriters at a well-run insurance company. While not an exact science, underwriting is a domain with learnable rules where expertise can be developed. The underwriters all read the same file and determined a premium. That there would be divergence in the premium set by each was understood. The question was how large a divergence. “What percentage would you expect?” Kahneman asked. “The number that comes to mind most often is 10%. It’s fairly high and a conservative judgment.” Yet when the average was computed, there was 56% divergence. “Which really means that those underwriters are wasting their time,” he said. “How can it be that people have that amount of noise in judgment and not be aware of it?”