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the latest source of comment and analysis from the Institute for Security & Resilience Studies at UCL.


Archive for the 'Artificial Intelligence' Category

Artificial Intelligence

Jas Mahrra10 July 2015


Dr JP MacIntosh, Director ISRS recently spoke at FT’s Camp Alphaville panel on When Markets Become Self-Aware – The Rise of AI. Here is a bit more about what he has to say on the subject.

AI can and has been oversold, over packaged, over expensive & doesn’t do the job. That’s been a recurring pattern since cybernetics morphed into AI after WW II. AI investment waves have come and gone. As the recipient of a recent PhD in the field put it, today’s machine learning is “statistics on steroids”. Yes, that’ll doubtless provide a financial engineering competitive advantage for a narrow window of time but we’re some way from the singularity and each competitive advantage snatched at and lost probably doesn’t amount to a singularity let alone the singularity that those suffering narrow inductive rational rapture have long fantasised. Uncertainty still wins through as the Flash Crash perhaps demonstrated.