by Francis G. Coleman, Executive Vice President, CBIS
“Sometimes data behaves unethically…an algorithm that draws its lessons from the present reality can’t be counted on to improve the course of the future on its own.” – Antonio Garcia-Martinez, a former Facebook employee
We have officially entered the twilight zone.
As we have been speeding quickly along the information highway, enjoying our newfound access to information at breakneck speed and sometime encountering some speed bumps, never was it anticipated that humanity would get in the way.
The increased use of algorithms in foreign-exchange trading is expected to be a long-term boon for pension fund executives seeking better execution and lower transaction costs, but in the short term the algorithms could cause market volatility that might affect investors' costs and returns.
Artificial intelligence (AI) has emerged in the public debate with Deep Mind’s recent win over a champion of the Chinese game GO. AI is all about computers getting better at solving problems formerly thought too difficult which should be left to humans. Since the 1970s, a small group of computer specialists and mathematicians based their hopes on teaching machines to follow the rule-based learning of human reasoning. They designed algorithms (coding these rules into software programs) which they hoped would enable computers to emulate human thought processes.
Bloomberg, we are committed to funding high-quality computer science research in areas that are critically shaping the computer science world and impacting our own research and business including machine learning, natural language processing, machine translation, statistics, and theory.