A.I.

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Robo-advisors gaining popularity

By Betty, July 01 2017

The majority of affluent and high-net-worth individuals recognize the potential of robo-advisors and automated investment services to add value to their wealth management services.

[According to a study of 600 investors in the UK and US] more than 70% of overall respondents think that such tools can positively influence their wealth manager’s advice and decision-making process and that automated advice potentially speeds up onboarding processes such as registration and account opening, making these processes more efficient and convenient. This underlines how the young and the wealthy are especially showing a great openness, awareness and knowledge about robo advice.

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Robo advisors are gaining popularity with high-net-worth investors
Fintech
A.I.
Finance

Singularity will occur by 2047

By Betty, June 26 2017

Singularity—the point when machine intelligence surpasses our own and goes on to improve itself at an exponential rate—will happen by 2050, according to Masayoshi Son, the Japanese tech mogul leading SoftBank.

In 2017 he said: "I totally believe this concept. In the next 30 years, this will become a reality."

Son went on to say that our world will fundamentally change as a result of so-called superintelligences that will be able to learn and think for themselves, TechCrunch reports.

Son added that he expects one computer chip to have the equivalent of a 10,000 IQ within the next 30 years, Bloomberg reported.

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Softbank thinks singularity will occur within 30 years
Technology
A.I.
Future trends

When robots collude

By Betty, May 16 2017

Algorithms can learn to collude. 

Two law professors, Ariel Ezrachi of Oxford and Maurice E. Stucke of the University of Tennessee, have a working paper on how when computers get involved in pricing for goods and services (say, at Amazon or Uber), the potential for collusion is even greater than when humans are making the prices. 

Computers can't have a back-room conversation to fix prices, but they can predict the way that other computers are going to behave. And with that information, they can effectively cooperate with each other in advancing their own profit-maximizing interests.

Sometimes, a computer is just a tool used to help humans collude, which theoretically can be prosecuted. But sometimes, the authors find, the computer learns to collude on its own. Can a machine be prosecuted?

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When robots collude
Technology
A.I.
Commerce