I have featured the good doctor over at the Algo Duping/Attack of the Killer Algorithm pages before and here we have an update since that lecture and guess what, he’s giving us the very same warning again. The algorithms are running the financial market and as I said not too long ago, that’s the problem with Obamacare too, same model algorithms not playing well together. We are still stuck with a Congress that can’t see this yet. They are still stuck on asking the FDA about emails and probably not in touch with what the FDA has going for us. Sure FDA is not perfect but they are miles ahead of most other HHS departments by far.
Those Damn “Killer Algorithms” Keep Screwing Up Obamacare, One more Delay Added for Small Businesses, Static Text Laws and Digital Technology Crossing Hairs, We Continue To Endure the Constant Rise And Fall Of The Machines…
61% of all Internet traffic is non human..it’s algorithmic. He describes all the algorithms that load when you land on a web page. This is where the FTC has lost control by their own admission.
We actually need algorithms to navigate the complex world we have today, but who’s are they and who are they serving and do they serve our best interest? Go to the Algo Duping page and watch the 4 videos in the footer of this blog to understand how tis works. Larry Ellison has been giving us warnings too and he knows it as he grew the business and creates software for efficiencies and not just mining and selling consumers by all means.
Larry Ellison, CEO Oracle, HCM Conference Keynote–”Be Careful About Virtual Relationships With Artificially Intelligent Pieces of Software That’s Smarter Than You“, It’s Really All About People”–Algo Duping and the Killer Algorithms Living Amongst Us…(Update) Video
It was also good to see the folks at Nanex finally validated from an unusual source, Goldman Sachs as they did the Flash Crash for the SEC and were right on the money and for years people have been ignoring the fact that the mathematical algorithms are ruling and more so those who have control over how they run. Keep in mind that health insurers are hiring quants like I’ve never seen before as well, the folks who create the models. Better come out in the front before someone wants to see your proprietary code I guess with Goldman.
He goes into the Algorithms reading the news, and watch Video #2 below, Quants of Wall Street for more on how this works. Eric from Nanex and I had this conversation too about the rise of the new “journobots” and Professor Charlie Siefe (Video #1 below) has a new book coming out, one chapter all about the “journobots”…and I have said this in previous posts and why do you think Bezos bought the Washington post. He wants to make sure he has some kind of say in what kind of news gets reported. Eric basically said if there’s an element that can be created to control, they will do it. So again with news integrity could that gamed? Sure it could without someone watching the shop.
60 minutes Blasts The Data Sellers, FTC Admits They Have Lost Control - Time To License and Excise Tax “ALL” Data Sellers, Banks, Companies, Etc. - Congress Needs to Act On This…
60 minutes Confirms the Super Attacks of the Killer Algorithms With Consumer Credit Information With Flawed Data and the Inability to Algorithmically Fix Errors Which Really Makes a Huge Case for Licensing and Taxing All Data Sellers in the US–Chapter 54
Mr. Gourley goes further into privacy and the algorithms holding part or a big chunk of your identity, which is also known as the “data selling epidemic”. Larry Page was dreaming a bit at TED last week with medical records you might say too.
Larry Page of Google Wants Anonymous Medical Records Available for All Researchers To Use, But What Would Be the Cost? Insurer Subsidiaries and Others are Already In the Game As Data Sellers To Provide Such..
Look at the image to the right, what are we? We’re the “free” product and servants to the Algorithms. At the end he says the same been said here is that we have to figure out what our relationship will be with the algorithms. There are those that will “dummy you down” as well and this is where inequality is modeled, with the algorithms, the system is rigged and the US is no longer the land of opportunity any longer as there’s some algorithm that going to deny you access to something, again still designed by humans. It’ no longer a fair playground so be aware and be a skeptic when you need to. That image again is pretty scary to see our value versus a bot. Watch out for the use of Quantitated Justifications to make money for things that are just not true as well. Watch both videos at the link below and see how bots can write news, books and make videos. This was what the whole Occupy Movement was about as I state when it began and even the protesters didn’t understand but knew something wasn’t right and this is it. BD