New statistical method eliminates AI estimation bias in econometrics

A new research paper describes a statistical framework that resolves significant calculation biases caused by artificial intelligence in econometric models. The method, two-step extraction, removes estimation bias when researchers measure the business or economic effects of varia

A new research paper describes a statistical framework that resolves significant calculation biases caused by artificial intelligence in econometric models. The method, two-step extraction, removes estimation bias when researchers measure the business or economic effects of variables extracted using machine learning algorithms from unstructured data such as photos and consumer text.