Credentials: Professor, Risk and Insurance, Wisconsin School of Business; Hickman-Larson Chair in Actuarial Science; Faculty Director, M.S. in Business Analytics
Position title: Wisconsin School of Business
Daniel Bauer says he has the best job in the world. His appointment in the Wisconsin School of Business combines the excitement of entrepreneurship with the challenge of building academic programs on the cutting edge of quantitative research. Daniel uses machine learning and natural language processing to parse complex contracts for variable annuities, and to build models for understanding if they can present beneficial choices for retirement savings. His work informs policy decisions, such as decisions about tax incentives for this retirement product. His research also supports retirement planners and the insurance industry.
Bias and fairness in artificial intelligence are another avenue of inquiry for Daniel. While the benefits of data science are plentiful, he believes the biggest challenge over the next fifty years will be keeping its minuses in check.
“Understanding when and whether algorithms are unbiased or ‘fair’ is one of many issues data science will need to wrestle with. This will require interdisciplinary work including expertise in data science, philosophy and ethics, as well as business and economics.”