Tag Archives: american university

What Are the Odds? A computational neuroscientist and Kogod adjunct scores a career as a data scientist with the NBA.

So much of our everyday life involves making predictions—from picking the best route for our morning commute to bringing an umbrella to choosing a partner. “We predict all the time, so the process is natural,” says Grant Fiddyment, adjunct professor of predictive analytics at Kogod and data scientist for the NBA’s Philadelphia 76ers. “In a lot of ways, it’s the same way we interact with technology and the world. For instance, how can I phrase my web search so that the site will match what I’m looking for? How can I pronounce a word so that a virtual assistant will understand what I’m saying? Without knowing the technical details, we implicitly learn how these technologies work.”

What is predictive analytics, and how does it offer us a glimpse into the future?

At its most fundamental level, the discipline calculates the likelihood of future events by simply (although many would cry foul at this characterization) counting the possible outcomes. Its foundations were laid in a 1654 letter exchange between French mathematicians Pierre de Fermat and Blaise Pascal discussing how the winnings of a coin-flipping gambling game should be split. And while we all know that the house always wins in Vegas, few would know to credit Jacob Bernoulli’s Law of Large Numbers from 1713 as the reason why.

Despite predictive analytics’ old roots, it is responsible for many facets of modern-day life we give little thought to—things like credit card fraud detection, virtual chess partners, and, of most interest to Fiddyment, creating professional sports super teams.

Grant Fiddyment's headshot.

As a data scientist on the research and development team for the 76ers, Fiddyment helps frame and analyze the predictive questions that arise in sports—for example, how will signing a new player impact a team’s title odds, or how well will a tall lineup play against a smaller, quicker one?

Predictive analytics has long been used in sports, going back to the analog days of yore. Baseball has historically led the movement. One of the most famous success stories is told in the movie Moneyball, which follows 2002 Oakland Athletics general manager Billy Beane as he uses predictive analytics to hire under-valued players and send his team on a crowd-wowing 20-game winning streak. But the methods developed in Oakland have application across all sports.

“Most teams were asking, ‘How often does a batter get a hit when they go to bat?’ Instead, the A’s asked, ‘How many bases does a player get when they go to bat?’ Looking at total bases turns out to be more predictive of how many runs a team will score,” explains Fiddyment. “Similarly, in the NBA, teams used to ask how often a player will make a shot. But this overlooks the fact that all shots are not equal. So now teams are asking, ‘How many points will a player get when they take a shot?’”

In the past decade the number of three-point shots in the NBA has increased. Is the rise just due to random luck or is it part of a well-crafted strategy? Fiddyment and other fellow data scientists employed full-time by sports teams work to answer new questions like these. He credits the invention of video tracking as the proverbial game changer. “Chip or camera-based systems will follow players as they actively play a sport, and the data we get is much more nuanced than a single-number summary,” says Fiddyment. “For example, we can answer how many pick-and-rolls the team ran last game or how open were the shots they generated. We can analyze the individual and team as a whole.”

At the moment, this kind of data collection is limited to professional teams, making it difficult to spot up-and-coming superstars. “College and international teams typically don’t have the same camera systems, so projecting which players will become successful remains a very challenging problem,” Fiddyment says.

Despite rapid advancements in technology, however, not all data is created equal—or, perhaps, equally useful. The limitations of data translate to limitations in predictive accuracy (as meteorologists can confirm). “We need to be aware of computers’ strengths and weaknesses,” Fiddyment advises. “Computers can process vast amounts of data much more quickly than humans ever could. But they are restricted to the data they have and operate very literally, so we should never expect them to behave exactly like a human, even if they can match our performance at a given task.”

From the glitz of Vegas to the life-saving powers of storm forecasts to the way opinion polls affect voters, predictive analytics is ever-present in our lives. Advances in machine learning and big data models are improving our ability to look into the future, but they are also raising some thorny issues, one of the most notable being the boundaries of data privacy. For now, however, Fiddyment has scored a slam dunk for the NBA.

From Veteran to Venture: Kogod alum-turned-professor helps veteran entrepreneurs launch their businesses

My story for Kogod School of Business

Each year, roughly 200,000 US service members transition from the military to the private sector. Although veterans are twice as likely as non-veterans to be self-employed, their rate of business ownership has dropped precipitously from the entrepreneurial high of their predecessors in the last century.

Half of World War II veterans went on to own or operate a business—a similar rate to the 40% of Korean War vets who did the same almost a decade later. Of the more than 3.6 million people who have served in the military since September 11, 2001, only 4.5% have started a business. What has led to such an enormous gap in veteran entrepreneurship?

In short, more challenges—and fewer resources to overcome them.

Although 25% of veterans say they want to start their own businesses, they face more obstacles securing the capital needed to get their ideas off the ground than in the past. Unlike the GI Bill of 1944, the updated 2008 version does not include access to low-interest loans to start a business. The financing needs of veteran and non-veteran businesses are similar, research shows, but even though would-be veteran business owners submitted more loan applications and reached out to a wider variety of lenders, they typically obtained less financing and got lower approval rates.

Because of frequent travel and work abroad, some veterans are also struggling with building a credit history and amassing collateral. And while previous military drafts drew from all segments of society, this century’s all-volunteer armed forces are more likely to come from military families, making them increasingly isolated from the non-military community and the networks that facilitate business success.

Seda Goff—a Kogod adjunct professor and MBA alumna—is helping veteran entrepreneurs overcome these challenges in her role as the director of veteran entrepreneurship at the PenFed Foundation. Through the foundation’s Veteran Entrepreneur Investment Program (VEIP), veterans can get the seed capital and mentorship they need to build and grow their ventures.

“Veterans have given a lot to serve and protect us, and the skill sets that they gained in the process lend themselves perfectly to entrepreneurship,” Goff says. “This new generation of entrepreneurs feel that same desire to serve and to make a difference and be bigger than themselves.”

After graduating from Kogod, Goff worked for the US Department of Veterans Affairs before moving to PenFed, where she was able to build the nonprofit investment program from the ground up. Her passion for helping veterans stems from growing up in close contact with service members.

“My father was in the Turkish Navy. He worked for the navy for almost 30 years after we came to the US,” Goff recalls. “I loved being around service members and their families. Everybody is very mission- and service-oriented.”

Since launching in March 2018, the Veteran Entrepreneur Investment Program has invested in and offered resources to veteran entrepreneurs. And because veterans are 30% more likely to hire other veterans, the program’s benefits extend to the entire veteran community.

VEIP is funded by outside donors, with PenFed Credit Union matching up to $1 million in contributions. Returns on all investments go back into the program to support future veteran-owned ventures. “The success of veteran entrepreneurs allows the program to exist,” Goff explains. “The dividends go right back into investing in more entrepreneurs. The multiplier effect translates to growth for businesses that are ready to launch, established businesses that want to grow, and those that are still in the exploratory stages.”

In the future, the PenFed Foundation aims to develop new resources for veteran entrepreneurs in all stages of the business cycle, with a focus on women veteran entrepreneurs—who have grown from owning 2.5% of veteran-owned businesses in 2008 to 4.4% in 2012.

Goff, who works with the American University Entrepreneurship Incubator, hopes to one day launch an incubator for veteran entrepreneurs at Kogod, too.

“I feel like the majority of entrepreneurs are just problem solvers. And if you point them in a direction, they’re going to solve problems,” Goff says. “In my work, I have seen how a military career is not something that you need to transition away from to be successful. Serving already has given vets the tools for success.”

Islamic Finance—A Centuries-Old Approach Providing Modern Solutions

Published here

Could a system of finance dating back to the seventh century offer modern solutions to problems like college debt and crumbling infrastructure? Dr. Ghiyath Nakshbendi, chair and founder of the graduate certificate in Islamic finance at the Kogod School of Business, believes so.

“In America, millennials are growing tired of the system of interest, especially when it comes to student loans. They are looking for something that is different,” Dr. Nakshbendi explains. “We also have big problems with infrastructure. More than 54,000 bridges need repairing, for example. Islamic finance could be a way to fund these projects.”

Kogod’s graduate certificate in Islamic finance is the first of its kind in the US. Although Islamic finance has been practiced for over a millennium in Muslim countries, it is relatively new to the US, with the Office of the Comptroller of Currency approving its use for home lending in 1997. It  has taken strong root in Europe, with nations like the United Kingdom, Germany, and Luxembourg at the forefront. In 2018, the UK’s largest Islamic bank, Al Rayan Bank, said about one-third of its customers were non-Muslim, up from one-eighth in 2010. So what is driving Western interest in this ancient approach?

“Islamic finance is not for Muslims only,” Dr. Nakshbendi states. “It is for humanity.”

Islamic finance is an alternative to conventional finance. Sharia law—Islamic law based on the religious principles of the Quran and the Hadith—forbids the charging of interest. Because money is only a way of defining value, making money from money is not permissible, rendering financial products like options, futures, and derivatives moot. In Islamic finance, lending can only occur in the context of a sale or exchange of some sort, meaning investments must result in something tangible.

If interest is forbidden, how do Islamic institutions interact with conventional financial markets? Profit-and-loss sharing contracts are one way, where an Islamic bank pools investors’ money and assumes a share of the profits and losses. Another way is renting or leasing products and services. Or a bank can form a partnership with the company it is sponsoring, reaping some of the benefits once the company produces its product. There are also sukuk—Islamic bonds.

Malaysia, a leader in Islamic banking, has been at the forefront of using Islamic finance to fund environmental sustainability projects. In 2018, Malaysia’s Securities Commission debuted the world’s first green sukuk, an Islamic bond used to fund environmentally sustainable infrastructure projects. Two Malaysian investment companies have already issued green sukuk to fund the construction of large-scale solar power plants in multiple districts.

Islamic finance is even finding its way into cryptocurrency. Rain, a Bahrain-based cryptocurrency exchange, announced in February that it had passed a Sharia compliance certification and bills itself as “the most regulated and secure digital currency exchange in the Middle East.”

“Malaysia and Bahrain are setting global best practice standards of Islamic finance. Business juggernauts like Kuwait and Saudi Arabia have been relying on this system, and they are at the forefront of all sorts of innovations,” says Dr. Nakshbendi.

The Islamic finance program attracts a wide variety of students who are eager to learn an alternative way of doing business, from creating community-minded, sustainable development to avoiding predatory lending and promoting inclusive growth.

Recent graduate Bianca Tardio sees Islamic finance as an avenue for positive societal change. “A lot of conventional finance funding provides more of a debt problem, which people obviously have trouble getting out of,” Tardio says. “Islamic finance would be an alternative to benefit not just companies or corporations but actually the people.”

Many students see Islamic finance gaining traction in the world economy and want to make sure they’re prepared to be a part of this growing global branch of finance. For them, the certificate opens up a world of career prospects.

“If one of the regular banking institutions wants to open an Islamic finance branch, someone with this certificate will be the first they will ask to get involved,” Dr. Nakshbendi says. “Even though the figure is from 2016, a study found that there are more than 50,000 jobs in Islamic finance worldwide.”

In 2017, total worldwide Islamic finance assets were estimated at $2 trillion. By 2021, they are expected to grow to $3.5 trillion. In the US, banks like Standard Chartered and JP Morgan—alongside several smaller banking institutions—are already offering Islamic personal and business banking services.

Students graduating from the certificate program are positioned to be at the forefront of Islamic finance’s growth in the US and around the world. From infrastructure development to climate-friendly investments to cryptocurrency, Islamic finance’s inherent innovation invites further exploring.

Though it has ancient roots, Islamic finance is far from irrelevant or antiquated; it offers solutions to some of the world’s most entrenched modern problems. Rather than focusing on wealth generation, Islamic finance offers an avenue to community-focused development and socially responsible investing.

Childhood Deployed: Remaking Child Soldiers in Sierra Leone

My article on Susan Shepler’s book Childhood Deployed:

Shepler’s recent book, Childhood Deployed: Remaking Child Soldiers in Sierra Leone, examines the difficult reintegration of former child soldiers in Sierra Leone. Sierra Leone’s devastating civil war lasted from 1991-2002, leavingmore than 50,000 dead and over two million displaced as refugees. UNICEF estimates 10,000 children were involved in the hostilities.

Shepler was a Peace Corps volunteer in Sierra Leone in the 1980s, where she worked as a teacher. She returned ten years later, while the war was ongoing and again after the war was over, to study the process of former child soldiers’ reintegration into their communities. She conducted ethnographic research in Interim Care Centres for demobilized child soldiers. She followed the children in their everyday lives, in the centres, in school, in the community, and at play. Shepler jokingly referred to participant observation as “deep hanging out” and this description seemed especially apropos in her interaction with the children, which allowed her to gain a view accessible to her as a member of their community rather than an outsider.

The Paris Principles define a child soldier as any child associated with an armed force or group, regardless of whether she/he was involved in actual combat. All the factions in Sierra Leone’s war recruited children (boys and girls) from all parts of the country. The children carried guns, commanded battle, and worked as porters, spies, cooks, or “wives.” Some of the children were abducted and some joined willingly. Shepler’s book brings up the fact that the Western view of a child is actually quite different from the Sierra Leonean—this is relevant in the sense that child labor and child agency are much more heavily emphasized there than they would be in the West.

Shepler’s work examines how the “standard narrative” of the child soldier: “I was abducted; it was not my wish, and now all I want is to continue my education,” is something that was not universally told by the children. Children had different ways of talking about the experience, depending on who they talked to. In other words, it is not as though that narrative was not authentic, but rather that “child soldier” as an identity is created in social practice across a range of settings. In a sense, the process of using that term and applying that term is intensely political and we must examine what is lost and gained by deploying ideas of modern childhood.

“Reintegration works best when it works with local culture,” she said. Child fosterage, for example, would have been a preferable alternative to institutionalization in interim care centres. Apprenticeship, which is an integral part of the child-rearing experience in Sierra Leone, would have been better than the “skills training” provided in the centres.

Shepler advocated for the need to develop better models that capture the complexity behind the term “youth.” She also suggested that policy makers be cognizant of the political consequences of their distinction making. She advocated for the design of programs for benefit all war-affected youth and not just those children who were deemed to fall under the “child soldier” category.

Associate Professor Susan Shepler’s research is a powerful testament to why ethnography matters and why anthropologists have a lot to share with international development organizations.

 

 

News Stories for American University’s School of International Service

Internship Awards Allow Students to Broaden Their Horizons
Professor’s Book Examines Terror Authorization Act
Professor Investigates Conflict and Stabilization in Afghanistan

Urban Peripheries and Politics of the Slum

My article: Urban Peripheries and Politics of the Slum
The world is over half urban. In 1990, less than 40% of the global population lived in a city, but as of 2010, more than half of all people live in an urban area. By 2050, this proportion will increase to a staggering 70%.

The bulk of new urban population growth will be in the so-called Global South: Sub Saharan Africa, South Asia, and Latin America, with an increasing number of people across the class spectrum settling in peripheral and suburban areas in both megacities and smaller towns. The nature of that growth, however, will not follow a familiar pattern. Dr. Malini Ranganathan, an Associate Professor at American University’s School of International Service and an expert on urban geography, says informality is the “new normal” of urbanization. This new kind of growth defies binary terms like “slum” and brings questions of equality to the forefront of the discussion on city planning and development, making the very concept of citizenship incredibly malleable and negotiable.
Ranganathan’s recent research focused on Bangalore, a city of over ten million people, where much of the growth is occurring in the so-called urban peripheries—the outskirts of town, where people are securing their claim to urban land through a series of negotiations and adaptions that while informal in nature are reshaping the very notion of “right to the city.” The discourse of the slum, Ranganathan explains, is incredibly limiting and doesn’t recognize informal land tenure. “We are referring to something akin to occupancy urbanism, where the people first occupy the space and then start to put in place the mechanisms of livelihood and the infrastructure. Many of these occupants might purchase what is initially considered farm land and then through negotiations and forming a relationship with bureaucrats are able to create a sort of an ambiguous ownership, which is in a sense advantageous to both the state and the inhabitants.” Much more noteworthy, however, is that while home owners associations in the United States are usually preoccupied (or rather, obsessed) with safeguarding property values, the ad-hoc neighborhood welfare associations she observed in Bangalore formed to make demands on the state. By banding together in groups, occupants gain the power to advocate for critical services such as water access and sanitation. As one of the residents described it, “The ‘we’ feeling has to be there.”
While informal urban growth seems to be especially prevalent in the developing world, it is certainly not foreign to the United States. Every day in American cities street vendors spread out their wares on sidewalks, food trucks serve lunch from the curb, and homeowners hold sales in their front yards. “Squatting” or adverse possession, as it is referred to legally, is becoming a little bit more prevalent, especially in cities like Baltimore and Detroit. “Baltimore is full of buildings artists have used over time to solve their problems,” says Fred Lazarus, president of the Maryland Institute, College of Art. “Many of them live illegally in buildings where they rent studio space.” All of these ground realities would require urban planning to be less top-down and more responsive. “The question remains about the extent these lofty goals can stir political action—how can the right to the city be institutionalized and to not rely so heavily on tech fixes. This issue is not just an environmental or technical issue but also a heavily political and social one. It is about social dynamics such as making public transit more accessible, new sustainability initiatives, and providing more affordable housing,” says Ranganathan.
Ranganathan also discussed a recent shift in the discussion on urban inequity. ”Urban inequity is now front and center on the urban policy agenda. Inequality is proving to be bad for development, period.” At the most recent World Urban Forum, the theme was Urban Equity in Development—Cities for Life. The concept paper of the forum argues that, “unequal cities are all-around inefficient, politically volatile, unsafe, and unsustainable, and just plain bad for human development.” The recognition that inequality is detrimental to overall human well-being is a notable shift away from decades of mainstream development policy guided by trickle-down economics and top-down ideas meant to simply offer band-aid solutions to the have-nots while simultaneously focusing on them as the problem. More importantly, the notion that growth and equity are antithetical is fast losing ground: “The OECD dismissed the assumption that the benefits of economic growth automatically filtered down to the poorest in society. The Economist has just affirmed that inequality has reached a level which makes it inefficient and bad for growth. By the same token, the IMF has recognized that inequality slows down economic growth, weakens the demand and contributes to financial crises. When Henry Lefebvre wrote about the “right to the city” in 1968, he was referring to far more than the individual liberty to access urban resources. Right to the city is a common rather than an individual right; it relies on collective power to reshape the processes of urbanization. It is the right to inhabit the city, the right to produce urban life, and to right of inhabitants to remain unalienated from the urban life. Yet, on a practical level, making these lofty ideals a reality requires political commitment. Until the time the powers in place wake up to the trenchant realities on the ground, informal settlements and their safety issues and environmental hazards will continue to exist and workers who build glitzy skyscrapers in global cities will still only be able to live in them while working on their construction.