How Artificial Intelligence Can Improve Public Policy

Profile photo Sharyn O'Halloran

Speaker: Sharyn O’Halloran

Chair: Fabio Franchino (University of Milan)

10 March 2023, h. 14.30
Room B – NASP Graduate School
Via Pace 10, Milan (45.45890283075112, 9.202280923485093)

Democratic governments face increasingly uncertain political and economic environments when enacting public policy. Traditional approaches to evaluating policy options rely on observational methods, which are prone to selection and measurement bias and fail to capture the underlying complexities of confounding variables. To address these challenges, artificial intelligence (AI) advances offer policymakers new tools to analyze large datasets and identify patterns to make informed decisions. Professor O’Halloran’s work demonstrates how AI can enhance financial market regulation to help decision-makers identify potential risks and prevent financial crises. While AI can potentially improve public policymaking by predicting and evaluating the impact of policy choices, its ethical and transparent use is crucial to ensure overall economic efficiency and social welfare.