It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says
It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says
Garry Gensler told the Financial Times that AI could cause a financial crash as soon as the late 2020s or early 2030s.
It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says::undefined
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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?
- WTF
- He was the most powerful man in the world for 30 minutes according to them, lmao. Why can't my personal issues give me super powers?
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.
Being a mathematical genius actually has a rather strong correlation with certain forms of high-functioning autism