Ok, everybody who has read this blog for the last 2 years has had to learn this one word, algorithms. Now I even have it on the middle of the page so everyone can understand how it relates to many of the posts I have on the blog.
In the news today, the Governor of Pennsylvania was talking about algorithms helping them with lowering hospital acquired diseases, and yes he used the word. Also, on the air today, Dr. Phil was talking about healthcare algorithms. Again, the decisions made today in healthcare and finances all are determined by the algorithms. Perhaps will the President be the next to address the issue of algorithms, well those algorithms that cause havoc and not healthcare solutions but profit only?
First of all on Wall Street, we have Bank of America/Merrill Lynch enhancing their “algorithms”.
“NEW YORK, Sept. 10 /PRNewswire/ -- Bank of America Merrill Lynch today announced important new enhancements to the company's algorithmic tradingsuite, designed to deliver improved execution performance.
The changes are part of the team's ongoing efforts to optimize strategies forclients, and were powered by the quantitative data and skill sets created by the combined Bank of America Merrill Lynch algorithmic trading platform.
-- Improvements to limit order placement -- Expanded Implementation Shortfall algorithms -- Enhanced anti-gaming protection for all liquidity seeking algorithms -- Customized solutions to optimize execution for small-mid size flow”
The press release states they have made over 50 improvement to their trading algorithms this year, and of course they compete with the likes of Goldman and others. Automated code running makes a huge difference and add on some Xeon powered PCs and you have a real power racket going. I used to do training for Intel relative to processors and this makes a difference. We still have the ongoing stories about Goldman and their stolen code, which in my opinion is not enough to do enough damage from what I read as it appears to be a module or a portion.
You can read more here on how the formulas/algorithms nicknamed “algos” function on the trading market. Customers can use a screen to customize their selections as well as relying on trusted human advisors. Human advisors may reach the point of being the configuration point for their customer at some point in time too as many investors do not understand the concept, and again these are more or less individuals who have basic issues with technology and computers period. We have the same issue in healthcare too with individuals needing computer knowledge.
Algorithms are being used to evaluate human behavior as related to truck driving and keeping risk management down to a minimal level with in vehicle systems connected to web based applications, which means you are not alone in the cab any more, devices reporting data.
GreenRoad insurancepartners have reduced the frequency and severity of claims and have createdmarketing programs that attract and retain those customers most concerned withsafe driving behavior.
Dan challenged the team to build a comprehensive service to addressdriving behavior, with an in-vehicle system connected to a suite of Web-based applications. He also oversaw the development of a program that provides customers with a step-by-step road map for success and the creation of an open multi-vendor platform for partners, enabling them to create complete best-of-breed solutions and protect their investment. The team was driven by the understanding that human behavior is more than a computer algorithm: behaviorchange requires incentives, rewards and positive coaching, and there arepsychological needs and concerns that need to be taken into consideration as well.
We're trying to find a way to automate the process" of collecting data, he said.
Doctors can make educated guesses, but there are some things that "are hard to see when you're surrounded by patients," Leslie said. The algorithm can plug in variables such as day of the week, which has an impact on ER flow, and allergens, which can affect respiratory illnesses, Leslie and Erlinger said.
Based on sheer volume, officials at Dell Children's seemed to have every reason in April to set up cots.
The immediate next step is to add an algorithm to the device to automatically score hypnograms. After that, its future depends on what industrial partner IMEC -- a research company that does not manufacture or market its own products -- teams up with.
Fowler hopes to prove that using his algorithm, doctors will be able to determine the amount of antibiotics a specific patient will need, instead of the current system which he believes overprescribes the method to treat intravenous infections.
Although antibiotics have worked well in the past, their utility is diminishing because they are being used too often, Fowler added.