Excerpts from an exclusive interview to ET after his address at the Summit:Statistics profession is extremely skeptical about big data. You are not adding information by adding data. You can see that in a lot of things. In finance, we had half a billion correlations before the crisis. In finance we had big data, but it did not allow us to predict the crisis. As a matter of fact, it confused and gave you confidence. Statistics profession is careful about big data. It allows you to know what is wrong, but has very limited application. However, consultants and others go because it looks sexy. A lot of people want to work on big data. But a lot of people in the profession are very skeptical. We call it the tsunami of data. It is not good to have a lot of variables.Whenever you meet Arab leaders, they talk about geopolitics. I attended prime minister Modi’s talk, not one word of geopolitics. You are not wasting time. You are trying to get business done. I would urge him to be a little more careful about agriculture technologies. They are untested, there would be risks. I would urge him to be careful about GMOs (genetically-modified foods). You don’t want to be sorry. If you look at the numbers, there are no big savings. If I were an Indian, I would have voted for him.These banks are in a much better shape than before. We must have smaller number of large banks. We lost a lot of small banks. Ideally, you should have a lot of smaller banks. Maybe, the banks are on paper a little healthier. Maybe we have deleveraged quite a bit in the United States. But we still haven’t killed the problem, nor realised the core of the problem.