and Statistical Modeling
Global Economics Group’s Data Analytics Team helps companies make informed, data-driven decisions and reduce litigation risk. Our team includes data scientists, economists and mathematicians, with deep expertise in predictive statistical modeling, machine learning, and other powerful data science methods. We work collaboratively with our clients to help them achieve their specific goals in analytics and compliance.
OUR OFFERINGS INCLUDE, BUT ARE NOT LIMITED TO:
• Conversion of large and complex data to an efficient business analytics dashboard.
• Econometric screening models to detect market manipulation in various markets, from commodities to cryptocurrencies.
• Predictive hiring models to improve hiring decisions and workforce outcomes related to punctuality, absences, disciplinary problems and retention to reduce labor costs.
• Analysis of diversity and fairness in the workforce to identify and reduce inadvertent discrimination and associated litigation risk related to HR decisions, such as hiring, firing, and reductions in force.
• Statistical models to proactively identify and reduce inadvertent discrimination and associated litigation risk in machine learning models used in marketing campaigns and financial institutions’ lending decisions.
• Diversity, equity, and inclusion (DEI) initiatives.
In addition, our team has deep expertise in analyzing and addressing fairness issues in artificial intelligence (“AI”) and machine learning (“ML”) models. Many companies use AI/ML models in their daily operations. For example, the largest lending institutions in the U.S. rely heavily on AI/ML algorithms and big data to make lending decisions. As reports of biased AI/ML become increasingly prevalent, the need to ensure these models do not inadvertently discriminate against protected classes is top of mind for legislators, regulators and the public. Global Economics Group, with decades of legal and regulatory experience and a battery of quantitative methods, works with a client’s internal data science team to evaluate their models and to ensure algorithmic fairness and compliance with anti-discrimination regulation. We offer tailored solutions for fairness in AI/ML, explainable AI/ML and model governance.