We don't let a car company just throw out a car and start driving it around without checking that the wheels are fastened on. We know that would result in death; but for some reason we have no hesitation at throwing out some algorithms untested and unmonitored even when they're making very important life-and-death decisions.
Cathy O'NeilThe disconnect I was experiencing was that people hated Wall Street, but they loved tech.
Cathy O'NeilEspecially from my experience as a quant in a hedge fund - I naively went in there thinking that I would be making the market more efficient and then was like, oh my God, I'm part of this terrible system that is blowing up the world's economy, and I don't want to be a part of that.
Cathy O'NeilI think there's inherently an issue that models will literally never be able to handle, which is that when somebody comes along with a new way of doing something that's really excellent, the models will not recognize it. They only know how to recognize excellence when they can measure it somehow.
Cathy O'Neil