226
It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says
(www.businessinsider.com)
this post was submitted on 16 Oct 2023
226 points (91.2% liked)
Technology
59578 readers
3208 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
They've been fucking with automated trading for decades though, unless you're going to try to convince me that there's a human investing in a trillionth of a company for a hundredth of a second at a time.
It's already caused "flash crashes" before. https://en.wikipedia.org/wiki/2010_flash_crash
The idea of investing in companies because you believe in them and want a share of their profits is sound enough I guess, but what it's morphed into is nonsense. The result is a system where you have trillion dollar companies that never actually turn a profit in favour of "growth".
Wow, they tried to blamed it on one autistic dude trading from his parent's apartment in London?
I love how they always mention the autism, as if being a mathematical genius is a common symptom, rather than just being able to remember every episode of Naruto.
Hey did you know the specific heat of water is 4.184 j/g°c because i learned that once in a physics class more than a decade ago and i still remember.
I am not a physicist and the memorization of that fact does not help me. Thanks brain.