If Applied #Econometrics Were Easy, #LLMs Could Do It! http://econometricsense.blogspot.com/2023/07/if-applied-econometrics-were-easy-llms.html
"All those things that #AI may be able to do are only the things regression needs, but to get where we need to go, to understand why, we need way more than what AI can currently provide. We need #thinking. So even for a basic regression, depending on our goals, the thinking required is currently and may always be beyond the capabilities of AI."
"Statisticians do not in general exactly agree on how to analyze anything but the simplest of problems. The fact that statistical inference uses mathematics does not imply that there is only one reasonable or useful way to conduct an analysis. Engineers use math as well, but there are many ways to build a bridge."
"… when you are not the one making the decision and it looks like the machine is doing it, there is someone who is actually making that decision for you...and I think that we have been complacent and we have allowed our technology to be faceless....how will we hold them accountable....for wisdom...thinking is our responsibility"
#accountability #statistics #decisionMaking