Here’s “something researchers have known for decades: that mathematical models generally make more accurate predictions than humans do. Studies have shown that models can better predict, for example, the success or failure of a business start-up, the likelihood of recidivism and parole violation, and future performance in graduate school. They also trump humans at making various medical diagnoses, picking the winning dogs at the racetrack and competing in online auctions. Computer-based decision-making has also grown increasingly popular in credit scoring, the insurance industry and some corners of Wall Street.”