Article in WIRED, July 2011. Our brains and our behavior are driven by feedback loops.
In factory automation, feedback loops are used to control machines tools, robots, transportation and handling systems, assembly, ... to go-to mechanisms need to know where-they are. Machine behavior is the result of constant instantiation, calibration and recalibration of models, say geometric, kinematic, dynamic, elasto-plastic, thermal, ... in feedback loops.
Dangerous biases can creep into decisions even in fields that are assessed as strictly technical. Questions that decision makers in investment and risk management should ask themselves beyond the usual risk - managing model & method risk. Measuring model uncertainties special teams will have delved more deeply into the analysis than the decision maker has time to. Questions, like the following might help
I just returned from the London and Paris events. Wolfram, NVIDIA, Supermicro and us presented in-time results that were impossible before.