Posted on 04/19/2024 6:21:43 AM PDT by ShadowAce
High-tech Tower of Babel
I bet you get some sweet frame rates on Call of Duty.
Never want either...
concentrations of capital.
I heard Jamie Dimon speaking the other day and he was saying how AI is going to fully integrated into every aspect of Chase’s business and currently AI was handling a large part of their equity trading.
If I were in a Wall Street research, trading or strategy business I would have an exit plan because in 3-5 years places like Wall Street will be getting rid of a bunch of highly paid people who can easily be replaced by AI.
If you have not seen it, check out the AI videos at the link below from Microsoft.
They use a single still image from a real person to make a realistic animation.
https://www.microsoft.com/en-us/research/project/vasa-1/
99% of people would ever guess these videos are AI. And this technology will be used for evil purposes.
They will name it Colossus and Forbes will report on it.
Friends at Microsoft got no pay raise this year (a functional pay cut, under Bidenflation) to fund this AI supercomputer.
They’re pissed.
Tear down a dam.
Plug in a Supercomputer.
What could possibly go wrong?
And then there are the considerations about robots trading against robots and the volatility that is likely to introduce.
We build multiple hay barns so that if one goes all the supply doesn’t go at once. It is a very old idea but probably still a good one. But what do us old guys know?
Volatility? More like collusion.
That’s probably very true, where this leads not even the AI experts know that.
In some respects these High Speed Computerized trading companies are already competing in the robots trading robots game, that’s one of the reasons why over the years the volume on Wall Street has exploded, without the automation humans simply could not keep up.
Even the CME in Chicago is subject to the same things, instead of the people going crazy on the floor of the CME a lot of the commodity trades are automated.
That is correct.
Soon, maybe less than a decade, there won’t be any jobs that AI can’t handle. Massive unemployment on a scale unheard of including the Great Depression......................
AI is going to fix my leaky faucet?
Cool!
Just a bit more insight into the changing voter characteristics in Iowa.
The Forbes reporters hiked in through the portal in Laredo.
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