On Dec. 3, 2017 NPR’s Nathan Rott reported “Credit Rating Agency Issues Warning On Climate Change To Cities.” Moody’s “One of the largest credit rating agencies in the country is warning U.S. cities and states to prepare for the effects of climate change or risk being downgraded.” “In the Midwest, “impacts on agriculture are forecast to be among the most significant economic effects of climate change,” the report says. The Southwest is projected to become more vulnerable to extreme heat, drought, rising sea levels and wildfires. Rising sea levels and their effect on coastal infrastructure is the biggest forecast impact on the Northeast.”
Copyright 2017 DJ Cline All rights reserved.
Aug.Â 20, 2009 in Palo Alto at SAP, the Bay Area Future Salon hosted FreeRisk’s Jesper Andersen and Toby Segaran. Andersen is a statistician, computer scientist and entrepreneur. Segaran is the author of the “Programming Collective Intelligence” and frequently speaks on the subjects of machine learning, collective intelligence and freedom of data.
Why didn’t more people see the current economic downturn coming? There was lots of data flying around but no useful strategy to make sense of it. Andersen and Segaran gave their assessment of current polling and statistical research. Bias is unavoidable. The questions you ask inevitably reflect your perspective. Moody’s and Standard & Poor’s AAA ratings are not enough. If you combine enough information from enough perspectives you can start to get a less biased picture of a complex problem.
How can we avoid this from happening again? They believe the solution will be public-private partnership internet firms with more transparency and market competition. They want to supply corporate financial information that can be openly analyzed to avoid conflicts of interest. FreeRisk aggregates accurate, accredited risk data so users can generate crowd-sourced algorithms to analyze credit risk that will be visible to everyone. They use standardized Extensible Business Reporting Language (XBRL) data, public-domain financial data and user-generated content. They also use unstructured data released in financial reports right down to those pesky and suspicious footnotes. Credit evaluators can focus exclusively on creating and applying risk analytics and not worry about IT or database management. No more black-box credit ratings.
They want to create a community of developers so this economic mess never happens again.
Copyright 2009 DJ Cline All rights reserved.