Short transcript excerpt from a YouTube video (Paul Barnhurst) arguing that data science and finance share important similarities: success requires empathy with the domain and customers rather than starting with techniques. The speaker uses fraud detection (Amex) as an example, noting teams must empathize with risk operations and even think like fraudsters to anticipate threat vectors.
I think data science and finance are actually very similar. To be a great data scientist, you have to empathize with the domain. You can't lead with a technique. You have to start with what does a business care about? What's a customer? You worked with Amex and thought about fraud detection. Well, how do you design fraud detection system? We actually have to empathize not just with your risk operations team, but you actually have to think in terms of a fraudster and think about all the threat vectors that are coming at you. So there are lots of things that are translatable about data science and becoming a founder, which is empathy with the domain and the customer.
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