In recent years, advances in the standardization and statistical treatment of standard variables have allowed greater precision in the reporting of short- and long-term economic activity, including, among others, GDP, inflation, and the unemployment rate. But the application of the complex, technical methodologies required in arriving at those calculations has also delayed the … [Read more...] about How New Predictive Models and Timely Data Lead to Better Public Policy Decisions
When Big Data and Machine Learning Spur Development Efforts
In October 2016, Hurricane Matthew made landfall in Haiti, flooding coasts, destroying crops, killing livestock, washing away roads and bridges, and destroying around 200,000 homes. International organizations, including the Inter-American Development Bank (IDB) and the World Bank, rushed to supply immediate assistance. However, long-term recovery in the most affected regions … [Read more...] about When Big Data and Machine Learning Spur Development Efforts
Big Data in the Age of the Coronavirus
When and where will infection rates from the coronavirus surge? How are people responding to quarantine measures? And how is the pandemic affecting people's economic and social activity? The answers to these questions and the policy measures taken in response are critical to improving well-being and saving lives. The problem is that amidst the immensely complex and rapidly … [Read more...] about Big Data in the Age of the Coronavirus
Big Data: New Opportunities and Challenges for Urban Research
Fifteen years ago, researchers were restricted to using surveys, censuses and basic administrative data when they examined cities and local policies. But those methods have real limitations. Surveys can be prohibitively expensive. Censuses may be out of date and administrative data often fail to represent the population as a whole. Today, we live in a radically different … [Read more...] about Big Data: New Opportunities and Challenges for Urban Research
Can Latin America Ride the Wave of Artificial Intelligence?
Artificial intelligence (AI), with its self-teaching smart machines, will transform Latin America and the Caribbean. It will not happen immediately. But it is inevitable, and the region needs to ensure that legislation and regulations are in place so that AI increases productivity without harming privacy or abetting discrimination. There is no time to lose. AI in the region, … [Read more...] about Can Latin America Ride the Wave of Artificial Intelligence?