by Julie Beal, Activist Post
Daily news reports about how the markets have reacted to specific events are now commonplace. The fake tweet saying Obama had been hurt in an explosion shook the markets, as did the Boston bombing.
The reaction was instant: millions were lost. The trouble is, most trades on the stock market are now conducted by algorithms running on super-computers. It’s not human beings making the decisions any more; A.I. is being used to both read and write the news, which then feeds and directs the A.I. economy, over which we have little control.
The A.I. algorithms are constantly mining the Web, to analyse social media, blogs, and real-time news feeds, to predict the markets; in fact, they price the news.
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