For some routine business decisions, human judgment and decision making have been fully replaced by algorithms. While the models and techniques needed to make this possible are complex, they are increasingly well understood. More difficult issues arise when algorithms must be designed to complement human judgment. For example, how can algorithms be used to aid attorneys in their decisions about what strategy to pursue in a particular litigation? Understanding when and how to combine human judgment and algorithms requires an understanding of both how humans think and the capabilities of algorithms. Mr. Bruegmann will talk about lessons TGG has learned from working with clients to develop better processes for complex business decisions.
Elias Bruegmann is a Managing Director at TGG Group. TGG is a unique firm that brings together some of the world's leading academics and business executives. TGG helps its clients by applying economics and behavioral science to tough business challenges. It specializes in finding causal insights in data and improving business decisions and customer interactions through improved choice architecture.
Supporting TGG partners like Steve Levitt, author of Freakonomics, and Nobel prize winner Daniel Kahneman, Mr. Bruegmann has led consulting engagements in an array of industries including finance, insurance, commodities, and manufacturing. Prior to joining TGG, he worked at Cornerstone Research where he performed market analysis for large antitrust and intellectual property cases. Mr. Bruegmann holds a Ph.D. in Economics from Harvard University and a B.A. in Economics from The University of Chicago.