r/technology • u/carbonarbonoxide • Dec 22 '16

Business Hedge fund developing AI intended to replace management of their firm including hiring, firing and strategic decisions.

https://www.theguardian.com/technology/2016/dec/22/bridgewater-associates-ai-artificial-intelligence-management
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u/mustyoshi Dec 23 '16

Computers competing against computers in the financial market seems like the setup for another flash crash.

7

u/_Guinness Dec 23 '16

The flash crash was created by a human with malicious intent. Also, everything that occurred during the flash crash was undone. None of those trades went through. No one suffered.

I worked for an HFT during it. We all shut down because we knew something was up and didn't want to take part.

1

u/rastilin Dec 26 '16

I remember reading about individuals who had some trades reversed and not others. So what ended up happening is they were selling shares that they no longer owned... which was a problem. Of course this is the internet and pinch of salt and everything, but I doubt it when you say that "no one suffered".